This year, a gift of over $500, in addition to impacting the lives of thousands, is eligible to receive a 50% state tax credit through the Community Investment Tax Credit (CITC) program. In other words, with the tax credit you can DOUBLE your gift without any additional cost!  For example, with the tax credit, a gift of $1,000 will mean only $500 out of your pocket. A gift of $500 will ultimately cost you only $250 with the tax credit. To qualify, submit the application and donate a minimum of $500 by cash, check, or credit card by December 31.  You can either add to your previous donation from this year or make a one-time gift. 

HOW CITC WORKS 

With your qualifying contribution to the Pro Bono Resource Center of Maryland (PBRC), you will receive a 50% state tax credit for your contribution. You may even qualify for a federal tax deduction (for taxpayers who choose to itemize; check with your tax advisor). 

Please consult your tax advisor regarding questions specific to tax filing and to determining final out of pocket cost. 

WHO IS ELIGIBLE 

Individuals: An individual is a natural person or fiduciary having personal tax liability in the State of Maryland. 

Businesses: Any entity that conducts a trade or business in the State and is subject to the State income tax on individuals or corporations, 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, partnerships, sole proprietorships, and limited liability corporations. 

TO QUALIFY, DONATIONS TO PBRC MUST: 

• Be paid by cash, check, or credit card. Gifts of stock or in-kind goods or services do not qualify.
• Be a minimum of $500. 
• Be made in one gift or installments throughout the year (all donations must be received prior to 12/31; and no goods or services can be received in exchange). 
• Be claimed in the tax reporting year for which the donation is received.
• Include one submission of the Donor Acknowledgement Form. The CITC Donor Acknowledgement Form is required to be submitted within 10 days of the initial donation.
  • Download the required form here or email egrove@probonomd.org)
• NOTE: Contribution is encouraged to be in excess of your previous year’s donation. To maximize the full advantage of this CITC program, we encourage doubling the amount of your previous annual gift. 
• If making multiple gifts to total $500 or more, indicate so on the donation form.
  • Contact Elizabeth Grove at egrove@probonomd.org for credit availability.

WHY YOU SHOULD DONATE WITH A CITC GIFT: 

Individuals and businesses that make charitable contributions benefit by: 

• Reducing your Maryland tax liability.
• Helping us as a vital local nonprofit organization achieve an essential mission:
  • Each gift enables senior homeowners to save their homes from foreclosure, and/or secure advance planning documents to transfer their homes to their family members and preserve intergenerational wealth.
• Making a targeted community impact.
• Improving community relations and increasing your visibility.

*For additional information please click here to visit the DHCD’s CITC page.