Sandwich Children's Center has been awarded a Community Development Finance Authority Tax Credit Grant for the 2016-2017 and 2017-2018 tax years. Seventeen New Hampshire nonprofit organizations around the state were selected to participate in the grant program.
Any New Hampshire business can support Sandwich Children’s Center’s renovation project and receive a 75% state tax credit for that contribution through the Community Development Finance Authority's Tax Credit Program.
The tax credit can be applied against the NH business profits, business enterprise, and/or insurance premium taxes. Any business paying any of these three taxes in the state of New Hampshire is eligible to participate. The contribution may be treated as a charitable deduction to the extent federal law allows and tax credits may be used at any time during a period of five consecutive years.
Combining the state tax credit and federal deduction means that a NH business can offer critical support to Sandwich Children’s Center for as little as 11 cents on the dollar. This program gives NH businesses control over where their tax dollars are spent and helps provide local employment and economic development.
Sandwich Children’s Center operates in a circa-1855 building that was built as a schoolhouse and served as a hardware store from the early 1950s through the mid 1980s. The Children’s Center was established in 1985 and has used the building since then.
The CDFA funds will be applied to a full renovation of the school-age classrooms which were formerly used as storage rooms for the hardware store. Local businesses and architects agree that the rooms need to be removed, a new foundation established, drainage improved and a new, light filled, open classroom built!
New Hampshire businesses have a unique opportunity to contribute to worthwhile nonprofit community, housing, and economic development projects and receive a 75% state tax credit for that contribution through the Community Development Finance Authority's Tax Credit Program.
The tax credit can be applied against the NH business profits, business enterprise, and/or insurance premium taxes. In addition, the contribution may be treated as a charitable deduction to the extent federal law allows. Tax credits may be used at any time during a period of five consecutive years.
A contributing business that takes a $10,000 cash investment in one of CDFA's approved projects, for example, will receive a state tax credit in the amount of $7,500. After federal tax benefits are accounted for, the contribution actually only costs the company about 11% of the $10,000 or $1,100.
The program is a great way for a business to impact a community by leveraging tax dollars that normally would go to the state and federal government. For more details, please visit www.nhcdfa.org.
Sandwich Children’s Center has been awarded $125,000 in tax credits over the state’s fiscal years 2016 and 2017. You can help us to fully renovate our after school classrooms, support early childhood education, help young families with critical child care, and support economic development in the region, and get a tax break too!
If you are interested, please let us know and we will send you a link with information about our project and a way to pledge online 24/7. We look forward to working with you.
The Importance of SCC
Sandwich Children’s Center is dedicated to providing children with a foundation for future learning by creating an environment in which children can discover themselves, the natural world, and the communities around them.
Sandwich Children’s Center is an exemplary early education program that strengthens Lakes Region communities through providing a critical resource to young working families and energizing young learners by connecting them with nature through its Explore, Play, Learn programs. (see enclosed brochure)
An anchor institution in Center Sandwich, NH, the Center is a modern adaptation of the classic one-room schoolhouse where teachers, families, volunteers, and local organizations all pitch in to help children be creative, curious, productive, and kind. Local artists, scientists, farmers, and chefs provide experiential activities and workshops and also serve as role models of personal fulfillment through learning, sharing, and working together.
Children at the Center participate regularly in community service through such activities as offering flowers from the Center’s gardens to nearby homes on May Day, snowshoeing each winter through the woods to a nearby senior center for lunch and songs with seniors there, and helping pick up trash on Earth Day.
The Project:
Sandwich Children’s Center operates in a circa-1855 building that was built as a schoolhouse and more recently served as a hardware store. The Center was established in 1985 and has used the building since then. The CDFA funds will be applied to the full renovation of the school-age classrooms which were formally the storage rooms for the hardware store. Local builders and architects agree that the rooms need to be removed, a new foundation established, drainage improved, and new light filled open classrooms built. A new bathroom and sink area are also desperately needed as the current bathroom is not usable in the winter. It is estimated that this project will cost approximately $150,000.
Completion of the renovation project will provide economic benefit to the Community by:
Ensuring the safe and efficient operation of the Center,
Lowering heating and maintenance costs (reducing pressure on tuition),
Providing local employment for builders and construction workers,
Ensuring ongoing employment opportunities for caring and talented teachers, and
Purchasing program supplies from local businesses and farms.
Most importantly, high quality early childhood education and after-school programs such as those provided by Sandwich Children’s Center make it possible for young families to live and work in the area, which is a source of community vitality, taxes, shopping, and home construction and renovation. There is no better way to keep the tide from going out on small towns in rural New Hampshire than by providing employment, education, and support for young working families.