Creating Vibrant and Equitable Communities
The New Hampshire Community Development Finance Authority (CDFA) is an expert in community economic development. In more than 35 years and over $250 million in investments, CDFA has impacted nearly every community in New Hampshire by partnering with local organizations to increase access to affordable childcare, help strengthen Main Streets, develop healthy and safe affordable housing, improve community facilities, create new jobs and support clean energy initiatives. Last year alone, CDFA infused almost $30 million into New Hampshire communities, funding 97 community-based projects, and engaging 122 business donors.
It is a combination of innovative community economic development ideas, strong nonprofits to implement them, and public-private partnership investments that bring strength and resiliency to our New Hampshire communities. How do we honor our commitment to the development of communities with tremendous need and potential for rich opportunities that have not traditionally had access to resources to achieve their visions?
Small Investment. Big Impact
To answer this question, CDFA launched its Community Economic Development Capacity Building Program to deepen its ability to resource communities that are both vibrant and equitable. The program awards tax credits to strengthen organizations in New Hampshire committed to community economic development and advancing initiatives that will support the needs of vulnerable community members. The program prioritizes projects that increase collaboration and resource organizations led by and supportive of priority populations and areas, including historically vulnerable community members.
For many of these organizations, a smaller investment in planning, assessments, or pilot projects now will generate a big impact later. To support their success, CDFA connects with the New Hampshire business community to raise tax credits on their behalf for the first year of the award. As projects transition into their second year in the program, CDFA provides training and access to a professional consultant the second year as they deepen their connections with New Hampshire businesses and raise their remaining allocation of tax credits.
When the tax credits are raised and the funding received, nonprofits gain another foothold to advance their vision and improved network in the New Hampshire business community – funding and networks they will leverage as they grow.
This year’s Community Economic Development Capacity Building Program awardees are generating impact across New Hampshire by building strong communities through art, empowering immigrant and refugee families to thrive, increasing access to locally sourced fresh food, and advocating for the unhoused and supporting the leadership development of those with lived experience. These creative, accessible programs – deeply rooted in their communities – will use the funding to get to the next step in their programming and growth. You can help them do so.
To support CDFA’s Community Economic Development Capacity Building Program, go to the Electronic Pledge Form and select “Community Economic Development Capacity Building Program FY2024” from the dropdown menu of projects.
For more information please check out the FAQ sheet, the application and program guide, or contact Maureen Quinn, CDFA’s Tax Credit Manager at mquinn@nhcdfa.org or 603-717-9124.
Source: Maureen Quinn, CDFA's Tax Credit Program Manager
