The NMTC program, administered by the CDFI Fund of the US Treasury Department, uses tax credits to attract private investment to low-income communities. Nonprofit Finance Fund (NFF) has been awarded $151-million in tax credit allocations since 2009, which we are using to make financing available to nonprofit borrowers in these communities. Our allocations have helped finance a health center, nonprofit theatre, brownfield redevelopment project, charter schools, and statewide food bank, among others.

Examples of projects: 

• NFF partnered with Citibank to help The Worcester Center for Performing Arts (WCPA) undertake a $30 million renovation to transform a historic theatre in downtown Worcester into the Hanover Theatre for the Performing Arts, a new 2,300-seat performing arts space.

• A $9 million NFF NMTC investment arrangement allowed The National Consumer Law Center (NCLC), one of the nations leading resources for information on consumer law, credit practices, and the rights of low-income consumers, announced today a new $9 million tax credit investment arrangement that will enable NCLC to purchase a historic building in downtown Boston. The new NCLC headquarters will allow the organization to expand its staff and dramatically increase its work on behalf of low-income consumers.

• NFF partnered with JPMorgan Chase Bank for a $5 million NMTC project to help PROCEED, a community services organization in Elizabeth, New Jersey, expand its National Center for Training , Support and Technical Assistance and to house four (4) classrooms for its existing preschool programs, expand service for senior citizen programming and provide additional administrative office space.

HOW DO I FIND OUT MORE?

Nonprofits: To see if your project can qualify for NMTC financing, contact your nearest local NFF office.

NMTC Investors, Leveraged Lenders and other CDEs: If you are interested in partnering with NFF on NMTC deals, please contact your nearest local NFF office.