Community Investment Tax Credits
Thank you for your interest in supporting RTMC! Are you a resident of Maryland or a business that pays Maryland state taxes? If so, RTMC can help you boost your contribution by reducing your tax liability, using Maryland’s Community Investment Tax Credits. Most years, RTMC receives an annual allocation of Community Investment Tax Credits from the Maryland Department of Housing and Community Development. After the allocation, RTMC finds individuals and businesses who wish to donate $500 – $500,000 in money or real property to RTMC, and in the process, earn 50% of the value of the contribution in state tax credits. Community Investment Tax Credits are usable in addition to the Federal and State tax deductions for charitable donations.
The combination of the tax credits and tax deductions significantly reduces the actual out of pocket spent per dollar donated…which allows for larger donations! The following table shows how RTMC and businesses at different tax rates can benefit from the Community Investment Tax Credits:
||17% (10% Fed, 7% State)
||30% (23% Fed, 7% State)
||43% (36% Fed, 7% State)
|Donation to RTMC
|Combined tax deduction
|Tax credit on state tax return
(50% of donation)
|Total tax benefit
|Net out-of-pocket cost
Eligible businesses include any entity that conducts a trade or business in Maryland and is subject to the state income tax, the public service company franchise tax, or the insurance premiums tax. These types of entities generally include corporations, public utility companies, insurance companies, financial institutions, S corporations, sole proprietors, and limited liability corporations.
Eligible individuals include residents of Maryland. Residents are defined as individuals who are living in Maryland on the last day of the taxable year, or individuals that live in Maryland for more than 6 months of the taxable year and are physically present in the state for 183 or more days during the taxable year.
For more information about making a donation and using Community Investment Tax Credits, please contact Elisa Hermes at 301-947-9400.
The following information may be useful to both individuals and businesses making contributions, as well as nonprofit participants in the Community Investment Tax Credit program. This information is for reference only and any individual or business contemplating making a contribution, that has questions about their specific tax advantages, is encouraged to consult with their accountant or tax professional.
On Saturday, April 29, 2017, Rebuilding Together Montgomery County’s kicked off its inaugural She Builds event with a talented crew of female volunteers that worked tirelessly to repair the home of Ms. Belay, a mom, 1st generation American and an engaged community member.
“She Builds” is part of Rebuilding Together’s national effort to bring together female business leaders and volunteers to support the most vulnerable populations of female homeowners in our nation. According to USAID, programs that provide women opportunities to better their family’s health, education and shelter, have effects far beyond a single individual. In fact, USAID reports a woman multiplies the impact of an investment made in her future by extending the benefits to her community 3-fold.
Through She Builds, RTMCs work with our partners and volunteers to provide critical home repairs to women-owned households and facility improvements for nonprofits that provides services to low income women in need. She Builds events are organized by women, executed by women and benefit the entire community. Designed to highlight the unique strengths that women in our communities bring to ensuring fair and affordable housing for all, She Builds
In order to cover the costs of repairs made to Ms. Belay’s home, She Builds volunteers contacted friends, neighbors, social media network, etc. in a peer-to-peer fundraising campaign. Through their efforts, the team raised $4,505 with donations still coming in!
On project day, House Captain, Ms. Jodi Longo, was instrumental in ensuring that tasks were properly executed. Jodi, owner of the full-service construction company Renovation Studio, was a perfect fit for the job. House Ambassador, Tara Murayama, helped make sure everything went smoothly and Ms. Belay’s needs were met to the best of our abilities, while crew leaders Sherry Kissal, Marion Coleman, Susan Prather, and Kathy Narva led groups of volunteers in providing hands-on “how to” information for each task. These women leaders proved invaluable to the project which simply could not have been completed without their help.
Students from the Woods Academy worked on landscaping the front and back yards. Attorneys and friends from Birchstone Moore helped sand the deck to prepare it for staining, while another group ov volunteers removed broken, rotted lattice from underneath the deck. Inside, women painted Ms. Belay’s living room.
The afternoon volunteers demolished a rotting and unsafe backyard shed, continued landscaping, finished sanding the deck and completed interior painting. Carolina Menor, Colleen Lee, Janet Demas and several others provided delicious breakfast, snacks, and lunch to nourish everyone throughout the day.
The day ended with lots of hugs and group photos of tired but satisfied volunteers, as well as tea and cake provided by a very appreciative homeowner! Already, Jodi Longo and RTMC staff are excited to plan for next year’s She Builds!
A heartfelt THANK YOU to the amazing volunteers who came out to lend a hand to a neighbor in need — your work is invaluable, appreciated and something to be proud of.
For information on how to get involved in a future She Builds event, please contact Melissa Erickson, Development and Communications Manager at 301-947-9400, x105 or at email@example.com.
June 2017 (Gaithersburg)-One of the things that we love about Citrin Cooperman, a national accounting and tax services firm, is that they always take the “team effort approach”. And on June 5th, their team effort was obvious as they worked in dreary weather to repair and beautify the home of Ms. Wade.
“I can’t thank Rebuilding Together and these volunteers enough. I’ve managed to live with multiple disabilities and in all my years I’ve never had anyone do so much for me. It really is a blessing and I am grateful that you’ve been able to fix up my ‘forever home’,” said Ms. Wade.
Because of Citrin’s investments of money and employees’ time, we were able to make significant improvements to the home of Ms. Wade – installing new perimeter fencing,* resurfacing the wrap-around deck, installing the new dishwasher, re-wiring of the well pump to restore pluming and water to the home, updating landscaping and installing new light fixtures for safe entry into and out of the home. Thanks to the firms commitment to the community, Ms. Wade now will be able to reside in a safer, healthier, and happier home for years to come.
*A special thanks also goes to Commercial Restorations of Germantown who donated in-kind power washing services to prep Ms. Wade’s deck for refinishing.
“The best antidote I know for worry is work. The best cure for weariness is the challenge of helping someone who is even more tired. One of the great ironies of life is this: He or she who serves almost always benefits more than he or she who is served.“
Throughout the year, Rebuilding Together Montgomery County (RTMC) has the great fortune of employing the help of ten amazing volunteer handymen. These gentlemen offer up their time to do recurring projects for RTMC. According to Pete Baum, a participant in the Hawk Handyman program, “I just love coming out to help other people. It’s rewarding work. Finishing the day, knowing that I’ve been able to make someone’s life easier and better is a good thing. My friend Marty brought me into this work and I’m so glad that he did.” That friend he’s referring to is Marty Severe who has worked with RTMC for more than a decade!
“Giving and getting is part of volunteerism. With RTMC, I’m able to give back to my community in a meaningful way while working alongside my old friends. It’s a way to have fun and invest my time in a meaningful act of service,” says Marty Severe.
On Wednesday, June 28th, Hawk Handymen Pete Baum, Marty Severe, Larry Cole, and John Vilgos worked alongside Lowe’s ProServices team members to address health and safety concerns in the home of one of our clients.
Together, they completed a roof patch, replaced the home’s gutters, connected a new fridge and stove, installed smoke and carbon monoxide detectors, made electrical repairs, placed new and larger house members on the front of the home, and attached new railings to help our client navigate his stairs in a safer and more stable way.
Many thanks to Lowe’s for their continued partnership with Rebuilding Together, for the homeowner who entrusted us to his home, and to the committed Hawk Handymen who are there for our community when it counts!
July 2017 (Gaithersburg, MD)- Thanks to the generous financial support and volunteer service of a group of Wells Fargo employees, RTMC clients, Ed and Diane, have a safer and healthier home they can depend on for years to come.
When Ed and Diane first came to Rebuilding Together, they had experienced significant water damage in their home, caused by both a roof leak and a lingering plumbing leak on their main level. These leaks presented not only an eyesore in cracked ceilings and water stains, but they also caused health hazards with mold having grown behind their drywall and across their basement carpeting.
The Wells Fargo funding enabled us to hire subcontractors to address the roof leaks and chimney repair. They also cleared their plumbing drain lines and replaced their electrical panel, GFCI’s in the kitchen and bathroom, and drywall replacement throughout the basement.
Committed Wells Fargo volunteers, representing their Maryland business units, completed the painting work throughout the first level and basement, cleared their overgrown patio area, removed carpet throughout the basement, and re-painted their entire fence.
Homeowners Ed and Diane were engaged throughout the project, assisting where they could, getting to know the volunteers and humbly thanking everyone at every turn.
It was a beautiful day of service and we cannot thank Wells Fargo enough for supporting RTMC and those we serve.
“We make a living by what we get, but we make a life by what we give.” Winston Churchill.
WHO/WHAT: For National Rebuilding Month, Rebuilding Together Montgomery County (RTMC) will be participating in 18 home rehabilitation projects across the county thanks to the help of 27 generous volunteer groups and more than 700 volunteers.
WHEN: Saturday, April 29 and Sunday, April 30, 2017 (Media invited from 9 am to 2 pm)
WHERE: Rebuild projects are taking place across the county.
Rebuilding Together Montgomery County focuses on providing home repair services to low-income homeowners throughout the county in an effort to preserve the affordable housing stock. The repairs that we provide are designed to make homes safer and healthier for homeowners allowing them to remain in their homes and reducing the risk of homeowner displacement. At RTMC, we know that displacement destabilizes entire communities and it is far more cost effective to simply preserve the current supply of affordable housing.
That’s where we come in. Our largest volunteer event of the year, National Rebuilding Day, deploys groups of volunteers to homes throughout the county to provide revitalization services that allow our most vulnerable neighbors including senior citizens, veterans, children and families, and individuals with disabilities to remain in homes they can depend on for years to come. This year, we are participating in 18 home rehabilitation projects across the county and engaging 27 volunteer groups from all walks of life. We hope you will join us for this life-changing event.
MEDIA CONTACT: Melissa Erickson, Development and Communications Manager, Rebuilding Together Montgomery County, 240-274-7441, firstname.lastname@example.org
NATIONAL REBUILDING WEEKEND VOLUNTEER GROUPS:
Good Shepherd Lutheran Church ∙ GCAAR ∙ Donohoe ∙ St. Francis of Assisi Catholic Church ∙ Gaithersburg Presbyterian Church ∙ St. Mark Presbyterian Church ∙ Bethesda United Church of Christ ∙ Holy Cross Catholic Church ∙ Faith United Methodist Church ∙ Ecobeco ∙ DeVere Insulation ∙ Tuckers Air Conditioning, Heating & Plumbing ∙ United Rentals ∙ Grace United Methodist Church ∙ Sandy Spring Bank ∙ D.G. Liu Contractor ∙ Cedar Lane Unitarian Universalist Church ∙ Ashton United Methodist Church ∙ RBC Wealth Management ∙ Temple Beth Ami ∙ Shaare Torah ∙ Christ Church Parish Kensington ∙ Revere Bank ∙ NCCoE ∙ B’nai Israel ∙ Helping Hands Poolesville ∙ Neelsville Presbyterian Church
(Gaithersburg, MD – April 24, 2017) – Rebuilding Together Montgomery County (RTMC), in partnership with The Friedson Group of Long & Foster Real Estate, is launching the Safe Homes, Happy Residents Program aimed at reducing the risk of home fires and carbon monoxide poisoning amongst Montgomery County’s low-income residents. Through this partnership, The Friedson Group will donate a portion of its commission (for each transaction in which it acts as an agent) to RTMC to be used to purchase smoke detectors, CO detectors, and fire extinguishers for installation in the homes of RTMC’s clients.
To kick-off the launch of this program, volunteers from The Friedson Group, together with a crew from Montgomery County Fire and Rescue, will install smoke/CO detectors and fire extinguishers in the home of one of RTMC’s clients during National Rebuilding Day.
WHAT: Safe Homes, Happy Residents Volunteer Event & New Program Launch
WHEN: Saturday, April 29, 2017 | 10:30 AM –11:30 AM
WHERE: 8103 Fallow Drive, Gaithersburg, MD 20877
INVITED GUESTS: Chief Scott Goldstein, Montgomery County Fire and Rescue and Councilmember Sydney Katz, Montgomery County Council
The Friedson Group’s partnership with RTMC is rooted in their organizational commitment to community and the safety and health of those living throughout Montgomery County.
Throughout the year, RTMC is able to provide repairs to 2-5 nonprofits that support our community. We do this through the Facility Facelifts program, which operates year-round and is contingent upon both volunteer engagement and funding.
How to qualify for Facility Facelifts:
- Any applying organization must be a registered 501c3 organization in Montgomery County, MD.
- The organization must primarily serve low-income clients.
- The organization must either own a property or have, at a minimum, a 3-year lease on the facility.
How to apply for Facility Facelifts:
Complete the 2018 FF Application, collect the required support documents, and submit by email, mail or fax to Rebuilding Together Montgomery County.
RTMC is always in need of volunteers interested in contributing their energy and talents to help our office associates. If you would like to help us with data entry, donor outreach or even our newsletter and other media projects, we want to know!
Held every April at Rebuilding Together affiliates across the nation. Volunteers from each region will join together to provide life-saving and critical home repairs for vulnerable families in need. The work is done at no cost to recipient families, and funds are raised through sponsorships, donations, and in-kind gifts of materials and labor. National Rebuilding Day comes to life when caring individuals like you join the effort!