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 tax credit on donations of $1,000 or more; for example, a $1,000 gift is only $500 out of pocket with the tax credit applied. 

To support Nectar and take advantage of these state tax credits, click here to contact us. 

About Nectar Community Investments 

Nectar Community Investments is a certified CDFI and CDC that provides flexible growth capital, technical assistance and strategic advisory services to small business owners and homeowners in historically disinvested communities. Our purpose is to build generational wealth to close the racial wealth gap. With our robust advice, resourced networks and capital investment, we aim to grow sustainable, thriving and diverse communities driven by equal access and opportunity. Established in 2022 through the merger of Mill Cities Community Investments and the Foundation for Business Equity, Nectar has provided $33.5 million in small business and residential loans, supporting more than 500 businesses and nearly 1,000 homeowners.