A novel way to help build wealth for all in Codman Square

Gail Latimore

The Codman Square Neighborhood Development Corp is a non-profit, state-certified community development corp (CDC) based in and serving Dorchester and portions of Mattapan. For over 40 years, we’ve strived to build equity, wealth and homeownership in Dorchester by providing a range of services. That includes development of over 1,200 units of affordable housing, both rental and homeownership, with 1,000 rental units—and growing—in our portfolio.

We also have longstanding community organizing and environmental justice components (our Eco-Innovation District department), that works to train residents as leaders who can impact quality of life and climate and environmental issues impacting our community. Through our Fairmount CDC Collaborative work, we’ve succeeded in getting four new stops and fair fares on this critical transit line, as well as increased service so that the 35 percent of our residents that work downtown, have shorter commute times and there is transit equity on this commuter rail line that until fairly recently, used to cut through our community without stopping.

We have a special focus on wellness issues for Men of Color via our MEN@Home and Brothers Building components that focus on peer support and access to core services such as affordable housing and mental and physical health issues.

In these ways, and others, Codman Square NDC (CSNDC) is striving for equity for the low-and-moderate income people we serve. Since 2014, with the inception of the Massachusetts Community Investment Tax Credit, we’ve attracted a range of donors who have supported us in this equity work.

Those donors who donate at least $1,000 to CSNDC may be eligible for a tax credit equal to 50 percent of their donation to CSNDC. Those with no Massachusetts State Tax liability may receive a State income tax refund equal to 50 percent of their donation. The CITC applies to individuals and corporations, including nonprofits such as foundations. It also applies to such entities based within as well as outside of Massachusetts. See here for more information.

One exciting new wealth building strategy that CSNDC launched in 2020, leveraging the Community Investment Tax Credit with the support of 2 major donors, a husband & wife doctor team, is the launch of the Codman Square Down Payment Assistance Grant Fund.

These doctors gave over $75,000 to CSNDC to seed the fund. In return, they were able to receive State tax credits for their donation. To date, the fund has assisted 11 Black, Indigenous, People of Color (BIPOC) residents become new homeowners by filling financial gaps related to down payments and/or closing costs requirements. In this way, CSNDC and these donors leveraged the CITC tax credit to build wealth with over $25,000,000 in home assets in the hands of new BIPOC homeowners and their families.

Codman Square NDC continues to allocate Community Investment Tax Credits to eligible donors. We encourage those who want donations to result in more equitable outcomes and wealth building for low/mod income people to contact the CSNDC and donate , or contact Gail Latimore, Executive Director at gail@csndc.com or 617-825-4224 x132.


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