BMPCS has received $25,000 in Community Investment Tax Credits (CITC) from the Maryland Department of Housing and Community Development’s for 2015-16 to be used in the resurfacing of our backyard field. This is not a grant in cash, but rather a pot of money available to donors who give $500 or more to BMPCS. Donors receive half of their donation back in MD state tax credits in addition to their regular state and federal tax deductions. A sample calculation of this benefit is illustrated below.  

The Backyard Committee is still finalizing plans to ensure we maintain a safe outdoor environment to learn and play and will share them as they become available. The project will be funded through grants and private donations, and the CITC provides an incredible opportunity for donors to reap huge tax benefits by donating to the project. 

The 2015 HANDS ON! Gala on March 28th will be our kickoff event to raise funds for the Backyard Project. Due to the increased visibility of the Gala through our Honorary Chair, Thibault Manekin, we are anticipating the CITC going quickly. While they technically expire December 31, 2016, they are first come first serve, and once the $25,000 is spent – they are gone!

Donations can be made via check to BMPCS or credit card on the “Donate” button below. Please provide contact information so we can provide you the essential tax papers. Contact Jenny Smolen at jenny@bmpcs.org or 410-528-5393 with questions.  

 

 SAMPLE CONTRIBUTION SUMMARY:       

Donation Amount

$   1,000



MD Tax Credit

       (500)

50%

Credit

Federal Tax Savings (Itemized Deduction)

       (150)

15%

Federal Marginal Rate

MD Tax Savings (Itemized Deduction)

        (70)

7%

Maryland Rate

Net Cost to Donor

$      280

28%

Net Cost/Donation Amount









Donation Amount

$ 10,000



MD Tax Credit

    (5,000)

50%

Credit

Federal Tax Savings  (Itemized Deduction)

    (2,800)

28%

Federal Marginal Rate

MD Tax Savings (Itemized Deduction)

       (700)

7%

Maryland Rate

Net Cost to Donor

$   1,500

15%

Net Cost/Donation Amount


* The actual net cost of a contribution depends on the company’s/individual’s tax bracket. Please consult your tax advisor.
 
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