Maryland Department of Housing and Community Development Announces $1.75 Million in Community Investment Tax Credit Awards

By MEDA Admin | Jan 7, 2025

NEW CARROLLTON, MD (January 6, 2025) – The Maryland Department of Housing and Community Development announced it has awarded $1.75 million in tax credits to projects across the state as part of the Fiscal Year 2025 Community Investment Tax Credit program.

The Community Investment Tax Credit program supports nonprofit organizations involved in community and economic revitalization activities. Nonprofit organizations use the tax credits as incentives for individuals and businesses to donate money, goods or real property to support operational and programmatic costs associated with projects that serve communities across Maryland.

“The Community Investment Tax Credit program is an important tool for nonprofit organizations to build connections with the communities they serve on an everyday basis,” said Maryland Department of Housing and Community Development Secretary Jake Day. “This tax credit encourages residents and business owners to directly invest with local nonprofit partners to improve the places where they live and work.”

Businesses and individuals that donate to a qualified organization’s approved project can earn tax credits equal to 50% of the value of the money, goods or real property contribution. These tax credits are in addition to the deductions on both Federal and State taxes as a result of the charitable contribution. The program has leveraged nearly $31 million in charitable contributions to approximately 770 projects across the state since its inception.

77 awards were made in the Fiscal Year 2025 round, including:

  • Capital support to Robotics and Engineering in Allegany County–Together, Inc. for renovations including HVAC replacement and ADA compliant bathroom to create a safe and effective learning environment to build STEM skills and concepts (Allegany County);
  • Operating support to Baltimore SquashWise to increase the number of PE squash clinics accessible through youth development programs, as well as school and community squash programs delivered in Baltimore City Public Schools (Baltimore City);
  • Operating support to Project Echo, Inc. for their trauma program, targeted on bringing structure to its participants’ lives by teaching them how to develop lifestyle routines that foster independence (Calvert County);
  • Operating support to Housing Unlimited, Inc. to provide housing and comprehensive housing support to enhance the quality of life for formerly homeless adults in high opportunity areas throughout Montgomery County (Montgomery County);
  • Operating support to Diakonia, Inc. for Emergency Shelter, Rapid Rehousing with a Housing First Model, and Rapid Response Outreach Team for those on the street or tent encampments, to offset costs from a proposed facility for new case management offices and Food Pantry (Worcester County)

More information about the Community Investment Tax Credit program can be found on the Department’s website.

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CONTACT:
Allison Foster, Director of Communications – allison.foster@maryland.gov

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