What is the NRTC?
The Neighborhood Revitalization Tax Credit (NRTC) Program is designed for companies that pay state tax in New Jersey. It provides these businesses with an opportunity to support non-profit organizations in lieu of paying a portion of their tax bill. Specifically, the NRTC program provides companies with a $1 for $1 tax credit, within certain constraints. Statewide, through 2014, every $1 of NRTC investments was leveraged into an additional $7.73 of project support.
Read our 2017 NRTC Project: Home Safe Home 2
Why it works:
- The NRTC program provides participating non-profits with a pool of capital to strategically invest in key projects that would have been otherwise out of reach.
- For corporations, there's an easy one-page form to complete—that's all!
- Keep in mind that the pool of available projects and participating non-profits changes from year to year. Please contact us for more information on the program and our participation.
To learn more or to discuss designating your tax dollars to build homes and better communities in Paterson:
Dave Juliana, CFO/COO