July 15, 2025 — Last week, the State of Massachusetts awarded Housing Nantucket the ability to issue state tax credits—meaning when donors contribute $1,000 or more to our organization, they receive 50% of their gift back as a state tax credit or refund, on top of the federal tax deduction for their charitable donation.

The Community Investment Tax Credit Program, established by the Legislature in 2012, supports Community Development Corporations (CDCs) like Housing Nantucket in advancing economic opportunities for low- and moderate-income residents. Donors who contribute to an approved CDC’s Community Investment Plan receive a 50% state tax credit—refundable for donors without tax liability—and help provide flexible capital that can be used to seed programs, leverage funding, and close financing gaps.

Governor Maura Healey and Lieutenant Governor Kim Driscoll, through the Executive Office of Housing and Livable Communities, have awarded $13.2 million in CITC statewide—an increase of $1.2 million over last year—to support high-impact community development efforts across Massachusetts.

“With this expanded and permanent funding for the CITC program, we’re ensuring that every corner of the state has resources to build housing and drive economic development,” said Lieutenant Governor Kim Driscoll. “This is a smart, community-driven approach to building economic security and housing opportunities.”

“This full award demonstrates the Commonwealth’s continued commitment to Housing Nantucket and the strength of our track record,” said Anne Kuszpa, Executive Director of Housing Nantucket. “Each dollar invested through our CITC program directly supports the creation and preservation of year-round housing. This past year, it helped us complete 23 new workforce rental homes—22 apartments at Wiggles Way and an additional single-family dwelling through our House Recycling Program.”

Funds raised through the CITC program are a key driver in Housing Nantucket’s strategy to expand the island’s parallel real estate market—a permanent network of deed-restricted housing that exists alongside the open market but is accessible to Nantucket’s essential workers and year-round residents.

“Our goal is to raise $750,000 in charitable support this year through the CITC program,” Kuszpa added. “Last year, we fully allocated our tax credits by September. We encourage interested donors to secure their allocation early to ensure availability.”

CITCs are available to individuals, corporations, and foundations for contributions of $1,000 or more. For more information about Housing Nantucket or to reserve tax credits, visit www.housingnantucket.org.