CITC credits are limited. If you are interested in making a Community Investment Tax Credit Gift, please contact vhartlove@caroline-center.org prior to making your gift.

HOW CITC WORKS

With your qualifying contribution to Caroline Center, you will receive a 50% state tax credit for your contribution. You may even qualify for a federal tax deduction (for taxpayers who choose to itemize; check with your tax advisor).

Please consult your tax advisor regarding questions specific to tax filing and to determining final out of pocket cost.

WHO IS ELIGIBLE

Businesses: Any entity that conducts a trade or business in the State and is subject to: the State income tax on individuals or corporations; the public service company franchise tax or the insurance premiums tax. These types of entities generally include corporations, public utility companies, insurance companies, financial institutions, S corporations, partnerships, sole proprietorships, and limited liability corporations.

Individuals: An individual is a natural person or fiduciary having personal tax liability in the State of Maryland.

To qualify, donations to Caroline Center must:

· Be paid by cash, check, or credit card. Gifts of stock or in-kind goods or services do not qualify (please contact Valerie Bailey vhartlove@caroline-center.org for credit availability)

· Minimum of $500

· Received by Caroline Center by 12/31 of current year.

· Made in one gift or installments throughout the year (all donations must be received prior to 12/31; and no goods or services have been received in exchange).

· Qualified donations are claimed in the tax reporting year for which the donation is received by Caroline Center

· CITC is available to individuals and businesses regardless of state residency, who make a qualified donation.

· NOTE: Contribution is encouraged to be in excess of your previous year’s donation. To maximize the full advantage of this CITC program, we encourage doubling the amount of your previous annual gift

WHY YOU SHOULD DONATE WITH A CITC GIFT:

Individuals and businesses that make charitable contributions benefit by:

· Reducing their Maryland tax liability

· Help a local nonprofit organization achieve an essential community goal.

· Make a targeted community impact.

· Improve community relations and increase their visibility.

*For Additional information please go to dhcd.maryland.gov.