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New Markets Tax Credits for Nonprofit Organizations

 
The New Markets Tax Credits (NMTC) program has become a key financing tool for economic development and neighborhood revitalization, enabling organizations to bring low-cost sources of capital into distressed communities. Nonprofit organizations are uniquely situated to take advantage of the NMTC program to fund their business and real estate development. As such, NTMCs have been used by nonprofit organizations as diverse as hospitals, charter schools, health centers, theaters, municipalities and community development corporations. This OnDemand Webinar will introduce nonprofit organizations to the NMTC program beginning with a brief overview of the program requirements and typical transaction structures. This program will explore what types of businesses/projects will qualify for NMTCs and how to find an allocation of NMTCs from a community development entity. In addition, we will focus on issues specific to nonprofit organizations, including discussions of the risks and rewards of using the NMTC program for a nonprofit, educating a board of directors about the NMTC program, and combining the NMTC program with other grants and capital sources. Throughout the program we will include recent real world examples of nonprofit organizations that have used NMTCs to meet their capital needs and create significant community and economic impact in distressed areas.

Faculty

Daniel J. Kolodner

Daniel J. Kolodner

Klein Hornig LLP

Agenda

Faculty

Daniel J. Kolodner

Daniel J. Kolodner

Klein Hornig LLP

  • Partner in Klein Hornig LLP’s Boston, Massachusetts office
  • Concentrates his practice on community development finance, specifically the use of tax incentives as means for financing community revitalization projects, with a focus on new markets tax credits and historic tax credits
  • Extensive experience in structuring transactions involving the use of new markets tax credits, historic tax credits and low income housing tax credits, as well as associated state tax credits
  • Practice focuses on assisting developers and tax-exempt entities, such as health centers, charter schools and theatres, in taking advantage of new markets tax credits and historic tax credits
  • Frequently speaks at national and local conferences on the topic of historic tax credits and new market tax credits, as well as other federal, state and local tax incentives
  • Recent guest lecturer on new markets tax credits and historic tax credits at the MIT Center for Real Estate in Cambridge, Massachusetts
  • Can be contacted at 617-224-0617 or [email protected]

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