Groton Organizations Approved For Neighborhood Assistance Programs

GROTON, CT — The State of Connecticut Department of Revenue Services has just announced the approved proposals under the 2023 Neighborhood Assistance Act (NAA) Tax Credit Program. Five Groton organizations were approved.

The NAA Tax Credit program is designed "to provide funding for municipal and tax-exempt organizations by providing a corporation business tax credit for businesses who make cash contributions to these entities," according to the state.

Businesses can receive a credit of 60 percent of their approved contribution to certain programs (or 100 percent in the case of certain energy conservation programs) approved by the CT DRS.

In Groton, Community of Hope Inc.'s Community of Hope Supportive Housing was approved at 100% for $112,000; Malta, Inc.'s Bridging the Gap was approved at 60% of $13,600; Sacred Heart School's Energy Efficient Roofing was approved at 100% for $150,000; and the Thames Valley Council for Community Action, Inc.'s Early Learning and Family Executive Center was approved at 100% for $150,000.