Nectar Community Investments receives $375,000 in community investments tax credits
Nectar Community Investments, a community development financial institution (CDFI) and community development corporation (CDC), has received $375,000 in tax credits from the Massachusetts Executive Office of Housing and Livable Communities Community Investment Tax Credit (CITC) program. Nectar received the maximum award, which incentivizes donors with a 50 percent refundable state tax credit to support the organization’s work of providing capital, advisory services and other assistance to small business owners and homeowners. “We’re grateful to the Healey-Driscoll Administration for this impactful award, which recognizes the integral role that CDCs like Nectar play in building generational wealth in Massachusetts,” said Nectar Executive Director Glynn Lloyd. “As we continue in our mission to grow the assets and wealth of underserved communities, we encourage donors across the Commonwealth to take advantage of this win-win opportunity: earning state tax credits while investing in economic mobility, climate resilience and more.” Since its launch in 2012, the CITC program has been a flexible, unrestricted and integral source of funding for CDCs and civil society organizations (CSO), promoting local innovation and long-term impact. At Nectar, CITC contributions seed new programs and drive innovations, support ongoing programs and operations, fill funding gaps, and leverage other resources. Donors receive a 50 percent …
