Merrimack County Savings Bank (The Merrimack) is helping empower local youth with a $25,000 investment to the Boys & Girls Club of Greater Nashua. Funded through the New Hampshire Community Development Finance Authority (CDFA), the contribution will go toward the organization’s Power of YOUth capital campaign focused on renovations that will increase access to affordable child care and address the need for greater mental health support.
“This project is essential to meet the growing demand for these services in the community,” said Linda Lorden, President of The Merrimack. “We’re grateful for the Boys & Girls Club of Greater Nashua and honored to help make an impact.”
The project includes upgrading the facility to enhance safety, expand youth wellness programs and increase licensed childcare capacity to 175 children. Since kicking off the campaign, the Boys & Girls Club of Greater Nashua opened its newly renovated kitchen, allowing the club to feed more youth.
“The new kitchen will help us increase meal and snack services from 45,000 to more than 75,000 annually at no additional cost to families,” said Craig Fitzgerald, Executive Director, Boys & Girls Club of Greater Nashua. “Thanks to The Merrimack and our community partners, we can ensure our children have the resources and support they need to thrive.”
For over 50 years, the Boys & Girls Club of Greater Nashua has been a trusted resource for local children and families. The nonprofit organization provides a safe and supportive environment where young people, ages 6 weeks to 18 years old, can learn, grow, and thrive. Through a variety of programs that focus on academic success, healthy lifestyles, and leadership, the BGCN aims to help all young people realize their full potential. For more information, visit bgcn.com.
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.