The CITC and NOAH: High Impact InvestingWhere else can you make an investment and get half of it back? With NOAH and the new CITC!

INVEST IN NOAH!

YOUR INVESTMENT WILL SAVE THE

WORLD!

2014 Annual Tax Savings Example(Illustration at 35% tax bracket. Situations vary.

Please consult your tax advisor.)

Minimum Donation$1,000

$500

$175

$675

$325

Maximum Donation$110,000

$55,000

$19,250

$74,250

$35,750

Tax Credit

Federal Tax Deduction (at 35%)

Total Tax Savings

Final 2014 Out-of-Pocket Donation

Community Garden in East Boston

Historic Affordable Housing Youth Programs

• CITC Background: On March 4, NOAH was selected by the Department of Housing and Community Development to receive the State’s new Community Investment Tax Credits! We will receive $110,000 in CITC for 2014 and $150,000 for 2015. With investors, these credits will leverage $220,000 and $300,000 in donations to NOAH.

• The credit is equal to 50% of a “qualified investment” in a nonprofit organization, or “community partner,” selected by the Department of Housing and Community Development. Taxpayers must give at least $1,000 to be eligible. The “qualified investment” must be in the form of a cash donation. MA taxpayers may also obtain a federal tax deduction for their donation. Taxpayers can claim the full credit in the year of their investment and those credits can be rolled over for up to five years.

• For example, if a corporation or business wanted to donate $25,000, they could double that investment to NOAH at $50,000 and still get $25,000 in return. If an individual wanted to make a $1,000 donation, they could donate $2,000 to NOAH and then receive $1,000 as a credit on their taxes. In effect, a donation can be doubled. There is nothing else like this in philanthropy!

Groundbreaking at Sitkowski School Apartments in Webster, with local, State and Federal officials. This project will provide 66 units of affordable housing.

For more information, or to make an investment, please contact:

Philip Giffee, Executive DirectorNeighborhood of Affordable Housing, Inc.143 Border StreetEast Boston, MA617-418-8240pgiffee@noahcdc.orgwww.noahcdc.org

Homes, Families, Neighborhoods, and Communities in Eastern Massachusetts

Use Massachusetts’ extraordinary new Community Investment

Tax Credit tool

NOAH installation showing the flood level if a superstorm like “Sandy” hits Maverick Square (MBTA station) in East Boston. NOAH is helping to develop community mitigation plans.

Why Invest in NOAH?

NOAH (Neighborhood of Affordable Housing) is a 27 year old, resident-governed, non-profit, tax-exempt organization. We grew out of an ecumenical church basement which rooted our values in a diverse, passionate and collaborative approach. We are governed by a strong and insightful Board of Directors. Our staff is talented, skillful, and creative. Our audits are strong, our record is substantial, and our reputation is solid. With CITC, we have a unique opportunity to solidify and grow our multi-pronged community development programs. Can you join with us in this work?

Our work makes a difference. Through CITC, you can too. Here are some examples of what NOAH does:

• Saved 1,600 families from foreclosure in 90 Greater Boston communities.• Created more than 1,000 new first time homebuyers, including 185 last year alone.• Counseled 8,000 individual and families on homebuying in the past 20 years.• Performed 9,000 minor and safety-related repairs to the homes of elder homeowners in Boston.

• Rebuilt and sold 45 properties to first time homebuyers in East Boston.• Totally rebuilt and restored 17 multi-family rental properties for affordable rentals in East Boston. The quality of our rehabs set the standard for later private sector investment.• Recently worked with towns to create three ‘friendly-40b’ housing developments for families and seniors. There are currently another 156 rental units in the pipeline in three other towns.• Rebuilt or are currently rebuilding a historic school, factory and 1847 Greek-Revival residence.

• Totally renovated seven dilapidated schoolyards throughout East Boston.• Worked with residents and the City to clean up a toxic site in order to build a 4.5 acre passive park overlooking the Chelsea River.• Operate and manage 23 Community Building/youth/environmental justice/ESOL/citizenship programs in our neighborhood.• We are creating a neighborhood based Climate Change adaption and mitigation plan with our diverse neighborhood. The plan is a collaborative model which can be shared with other coastal cities and towns.

• Our investment dollars total over $282 million with another $50 million in the works.

“We have known NOAH’s good work for many years now. They have assisted thousands of individuals and families in East Boston and elsewhere. They fixed up housing when no one else was investing in our community. Their housing looks terrific. They have been fixing up the homes of our vulnerable senior citizens for decades. They have stopped hundreds of needless foreclosures. Schoolyards all over the neighborhood are now safe and beautiful because they worked with us and the City to fix them up. Chelsea Creek is no longer a dumping ground because NOAH is working with neighborhood residents to stop polluters. They have trained hundreds and hundreds of families to become homeowners. Their environmental youth program teaches young people civic responsibility and about the dangers of climate change. They work respectfully with long-time residents and newcomers alike. They are working with suburban communities now to build affordable housing where it was not welcome before. They are also promising to build more great looking rental and ownership housing which will help restore our waterfront area. They know how to partner with residents and officials to get things done. We congratulate NOAH on 25 years of service and we urge them to keep up the good work! We are also happy to endorse NOAH for the new State sponsored tax credit investment program (CITC) that we all supported. Good luck on raising those funds to keep your great programs going!”Senator Anthony PetruccelliState Representative Carlo BasileCity Councilor Sal LaMattina

What is the CITC?

The CITC (Community Investment Tax Credit) is a Massachusetts tax credit especially for CDCs (Community Development Corporations). The purpose of the CITC is to “enable local residents and stakeholders to work with and through CDCs to partner with nonprofit, public and private entities to improve economic opportunities for low and moderate income households and other residents in urban, rural and suburban communities across the state.” State tax credits leverage private investment in high performing community development organizations.

The Future

Going forward, CITC investments will be used to underwrite NOAH’s multiple community development programs, with an emphasis on creating more homebuyer families in East Boston, Greater Boston communities and selected Gateway Cities. These super-charged CITC funds will grow and preserve our work with residents, local officials, Mayors, Town Managers and investors in the region as we increase affordable housing opportunities for renters, owners and first time homebuyers alike. The funds will also help preserve and expand NOAH’s wonderful Homebuyer Services programs which build family financial awareness, preserve and grow household capital and everyday budgets, and create wealth for families and communities to build our Commonwealth. CITC funds will greatly increase NOAH’s capacity and reach. Thank you!

Homebuyer classes Homeowner counseling

Benfield Farms, new affordable housing in Carlisle