09.14.21
Electronic Imaging Materials, Inc. (EIM) and four other local businesses have jointly pledged $442,000 in New Hampshire tax credits to Hundred Nights, Inc. to fund the development of a new emergency shelter and resource center.
“Safe and healthy shelter for all is a basic human need and Hundred Nights is part of the solution to this widespread problem,” says Mark Bodin, president of Savings Bank of Walpole, one of the five donors. “We are fortunate to have Hundred Nights and their committed staff and volunteers in our community.”
The New Hampshire Community Development Finance Authority (NH CDFA) awarded $750,000 in tax credit equity to Hundred Nights in June 2021. The NH CDFA awards approximately $5 million in tax credits every year to support economic development across the state. Hundred Nights, a year-round emergency shelter and resource center, received the largest award in the state in 2021. Fundraising began on July 1.
Businesses with New Hampshire tax liability can support awarded projects by purchasing tax credits resulting in the project receiving a donation and the company receiving a 75 percent New Hampshire state tax credit against that contribution. The credit can be applied against the Business Profits Tax, Business Enterprise Tax, or Insurance Premium Tax. The donation may also be eligible for treatment as a state and federal charitable contribution.
“Supporting our local community is near and dear to our heart. It's one of our core company values,” says EIM’s Marketing & Engagement Manager Jillian Bishop. “But as a small business, our yearly giving has a budget. Thanks to these tax credits, we have the flexibility to donate four times as much as we normally could. We're delighted to help fund this huge step forward for Hundred Nights and our community.”
Although Hundred Nights quickly sold out of 2022 tax credits, 2023 tax credits are still available and can be purchased online by making a pledge at www.nhcdfa.org.
“Safe and healthy shelter for all is a basic human need and Hundred Nights is part of the solution to this widespread problem,” says Mark Bodin, president of Savings Bank of Walpole, one of the five donors. “We are fortunate to have Hundred Nights and their committed staff and volunteers in our community.”
The New Hampshire Community Development Finance Authority (NH CDFA) awarded $750,000 in tax credit equity to Hundred Nights in June 2021. The NH CDFA awards approximately $5 million in tax credits every year to support economic development across the state. Hundred Nights, a year-round emergency shelter and resource center, received the largest award in the state in 2021. Fundraising began on July 1.
Businesses with New Hampshire tax liability can support awarded projects by purchasing tax credits resulting in the project receiving a donation and the company receiving a 75 percent New Hampshire state tax credit against that contribution. The credit can be applied against the Business Profits Tax, Business Enterprise Tax, or Insurance Premium Tax. The donation may also be eligible for treatment as a state and federal charitable contribution.
“Supporting our local community is near and dear to our heart. It's one of our core company values,” says EIM’s Marketing & Engagement Manager Jillian Bishop. “But as a small business, our yearly giving has a budget. Thanks to these tax credits, we have the flexibility to donate four times as much as we normally could. We're delighted to help fund this huge step forward for Hundred Nights and our community.”
Although Hundred Nights quickly sold out of 2022 tax credits, 2023 tax credits are still available and can be purchased online by making a pledge at www.nhcdfa.org.
