"[L]argest infusion of private philanthropy into community development that I can recall": MA officials happy with adoption rate of new, "complicated" tax credit.
"The tally is in on a new Massachusetts tax credit designed to promote a specific type of charitable giving, and state officials say they’re pleased with the outcome. Called the Community Investment Tax Credit and available for the first time in 2014, it offers a 50 percent credit to anyone who donates money to a community development corporation, or CDC, which is a nonprofit that tries to improve low- and moderate-income neighborhoods. It’s a complicated program in which CDCs receive allocations of credits that they use to entice donors.... The goal is to use government money to attract private dollars." -- Sacha Pfeiffer, the Boston Globe