The Community Investment Tax Credit was highly successful in its first year. Check out the financials that highlight how CDCs dramatically increased and recognized donations from individuals, businesses and foundations.
Increasing an organization's financial support is critical, but how these funds impact the organization, how they develop new programs and expand upon their existing programs and services is equally important to understanding how the Community Investment Tax Credit performed in its first year. Don't forget to check out the table highlighting how CDCs applied these funds to stabilize and grow their organization.
Taxpayer Type |
Instances |
Donation Amount |
% of Total Raised |
Average (Mean) |
Construction |
47 | $220,240 | 5% | $4,685.96 |
Accounting Services |
23 |
$61,200 | 1% | $2,660.87 |
Transportation/ Communications/Utilities |
3 | $19,000 | 0% | $6,333.33 |
Wholesale/Retail Trade |
20 | $99,500 | 2% | $4,975.00 |
Finance Institution |
89 | $1,092,650 | 23% | $12,276.97 |
Insurance/Real Estate |
41 | $158,000 | 3% | $3,853.66 |
Business Services |
22 | $40,190 | 1% | $1,826.82 |
Health Services |
8 | $24,741 | 1% | $3,092.63 |
Legal Services |
24 | $64,950 | 1% | $2,706.25 |
Education Services |
3 | $8,000 | 0% | $2,666.67 |
Individuals |
610 |
$1,945,518 | 41% | $3,189.37 |
Other |
124 | $976,009 |
21% |
$7,871.04 |
Total |
1014 |
4,709,998 | 100% |
2014 CITC GOALs Numbers |
||
CATEGORIES | YES | NO |
Organizational Goals | ||
CDC Expanded Goals | 64% | 36% |
CITC Impact on Organizational Community Engagement | ||
Organization expanded community engagement | 89% | 11% |
Increased Volunteerism | 58% | 42% |
Increased Board of Directors engagement | 67% | 33% |
Increased Board of Directors diversity | 19% | 81% |
New Committee | 50% | 50% |
Increased Attendance at events | 58% | 42% |
Other | 42% | 58% |
CITC Impact on Organizational Activities | ||
Organization expanded activities | 81% | 19% |
Real Estate Development | 56% | 44% |
Housing Services | 33% | 67% |
Small Business Assistance | 22% | 78% |
Job Training/Workforce Development | 25% | 75% |
Financial Stability Services | 33% | 67% |
ESOL or Adult Basic Education | 6% | 94% |
Youth or Elder Programs | 25% | 75% |
Arts, Cultural Programs, or Community Festivals | 25% | 75% |
Leaders/Community Organizing | 50% | 50% |
Other Activities | 25% | 75% |
CITC Impact on Organizational Funding | ||
Leverage non-CITC funding | 75% | 25% |
Expect Operating Budget Increase | 89% | 11% |
CITC Impact on Organizational Capacity | ||
Operational Capacity Increased | 83% | 17% |
Program Staffing | 61% | 39% |
Fundraising Staffing | 36% | 64% |
Other Staffing | 17% | 83% |
Staff Training/ Prof Dev | 28% | 72% |
Information Systems | 28% | 72% |
Communication Systems | 33% | 67% |
Space or Equipment | 19% | 81% |