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‘New Markets’ Present Not-For-Profits with Opportunities for New Development
Posted by Steve Dunavant on Thu, Jun 23, 2016 @ 10:18 AM

By Steve Dunavant, Managing Director at CBIZ, Inc. and Jim Lang, Managing Partner at Baynard, McLeod and Lang, P.A.

Not-for-profit organizations that are looking to expand or build programs to support underserved communities may be missing a significant benefit -the New Markets Tax Credit (NMTC).

Designed to stimulate growth and economic development in low-income communities, the NMTC Program provides federal tax credits to encourage capital investment for projects and businesses into these underserved areas. For not-for-profit organizations working in these communities and wishing to expand their mission, the NMTC Program may be useful in leveraging and subsidizing fundraising efforts. The NMTC program often results in 20 to 25 percent net benefit that could be used for an organization’s capital improvements, operating capital or other costs.

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Topics: NMTC, New Market Tax Credit, NFP, not-for-profit, nonprofit

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