One of the significant milestones that enabled G.A.L.A. to purchase and renovate a building for the makerspace, was the $275,000 in tax credits from the NH Community Development Finance Authority. Once combined with other grants and donations, the Makers Mill dream was well on its way to becoming reality.
The NH CDFA Tax Credit Program allows businesses to direct their taxes to rigorously vetted nonprofit development organizations for innovative projects that show a high degree of community support, build partnerships and leverage other funds.
Participating in the CDFA tax credit program is a unique and attractive way for a business to contribute to a charitable cause for three main reasons:
CDFA has done the vetting for you
through a competitive grant application process, verifying G.A.L.A.'s 501(c)3 status and identifying the project’s viability and alignment with NH economic development goals.
Stretch the impact of your donation.
For example, after federal deduction, a $1,000 out-of-pocket donation translates to approximately $11,000 toward the selected project.
You can direct where your tax money goes.
This unique program allows a business to direct its state tax liability to a local project they care about as opposed to the state general fund.
The Community Development Finance Authority (CDFA) Tax Credit Program is actually very simple, so we'll try not to overcomplicate it for you: Businesses that donate to a CDFA-approved project can get at least 75% of that contribution back in the form of a state business tax credit.
A big THANK YOU to these companies for investing in Carroll County’s future. These far-sighted and community-minded investors understand that a driving goal of Makers Mill is to help close the workforce skills-gap, allowing for business growth, job creation, and regional economic development.
Branch & Bloom Florist
Carroll County Landscape
Green Mountain Communications
Keller Williams Lakes & Mountains Realty
Made on Earth
Meredith Village Savings Bank
Mill Street Meat Market
Spider Web Gardens
The Hearing Aid Shop
Wolfeboro Family Dental