Meredith Village Savings Bank Supports Youth Success Project With Tax Credit Purchase

EXETER, NH — The New Hampshire Community Development Finance Authority (CDFA) awarded tax credits to the Youth Success Project, a youth-led organization focused on centering and uplifting the voices and young people who have experienced unaccompanied homelessness.

The organization will use the contributions to help fund their Director of Sustainability position and carry forward their mission to end youth homelessness. MVSB (Meredith Village Savings Bank) was proud to purchase $10,000 in tax credits in support of their efforts.

“Our organization is made up of youth throughout New Hampshire who have experienced homelessness, giving them first-hand experience and critical perspective to ensuring every young person is housed and receives the resources they need,” said Ariel Hayes, Youth Success Project Director of Sustainability. “We are thrilled by the backing we have received from local businesses and we are excited to increase the impact we can have across the state.”

“Homelessness among our youth is a problem we shouldn’t have in our local communities and we are grateful to the Youth Success Project for their work to advocate for young people and to provide an avenue to share their experiences and influence positive change,” said Jim Carrigan, MVSB Regional Vice President. “We are proud to join other local businesses in supporting their fundraising efforts through the CDFA program.”

The Youth Success Project is a youth-led organization focused on centering and uplifting the voices and lived experience of young people who have experienced unaccompanied homelessness (without a parent or guardian) while under the age of 25 in New Hampshire. Go to nhyouthsuccess.com to learn more.

CDFA tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. The tax credits are administered by the New Hampshire CDFA. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a New Hampshire state tax credit worth 75 percent of their contribution. The credit can be used over a period of five years to reduce the business’ state tax liability (business profits, business enterprise, or insurance premium taxes). The tax credit program allows New Hampshire businesses to use their state tax dollars to support local projects that they care about. CDFA reviews many project applications each year, and awards tax credits to those they determine are feasible and will make the biggest impact on economic development in the state. Visit nhcdfa.org for more information.

MVSB has been serving the essential banking needs of people, businesses, nonprofits and municipalities for over 150 years. As a mutual savings bank, MVSB has no stockholders but rather operates for the benefit of its customers, employees and community. Since our founding, one thing has always remained true: caring is at the heart of everything we do. By building and nurturing relationships, we believe that we can cultivate a community where we all thrive. It all starts with caring about our customers and neighbors. To learn more, visit any of the local branch offices located in New Hampshire in Alton, Ashland, Center Harbor, Exeter, Gilford, Laconia, Melvin Village, Meredith, Moultonborough, North Conway Plymouth, Portsmouth, Rochester or Wolfeboro, call 800-922-6872 or visit mvsb.com.

Submitted by Meredith Village Savings Bank.