Zoom
Monday night’s aldermanic virtual meeting.
Alders voted Monday night to certify a list of thirty local nonprofits that for-profit businesses can donate to and receive state tax credits in exchange for their philanthropy.
The full Board of Alders unanimously approved that nonprofit list during the local legislature’s regular monthly meeting.
As City Hall remains indefinitely closed to the public because of the state of emergency around Covid-19, the meeting took place online via the Zoom teleconferencing app and on YouTube Live.
That vote concerned local participation in the Connecticut Neighborhood Assistance Tax Credit Program, which allows businesses to rack up tax credits by donating to eligible nonprofits.
Westville Alder and Human Services Committee Chair Darryl Brackeen, Jr. introduced the item Monday night as not just providing a tax break for generous private companies, but also encouraging nonprofits to lessen reliance on public aid through private-sector fundraising.
“The most important thing is that there is no city money that goes into this program,” Brackeen said. “I repeat: No city money.”
He said the alders simply have to certify a list of eligible nonprofits every year. Business that donate to those nonprofits can then earn state tax credits equal to 60 to 100 percent of their business-to-business donation.
Click here for more information about the tax credit program and see below for local eligible nonprofits.
