Merrimack County Savings Bank (the Merrimack) has purchased $10,000 in tax credits through the New Hampshire Community Development Finance Authority (CDFA) in support of the Currier Museum of Art. The Bank’s investment contributes to the Currier’s artist-in-residence program, “Artists in the Community, Revitalizing a Manchester Neighborhood,” which includes the purchase of a Victorian house on 647 Beech Street in Manchester, NH to house visiting artists.
The “Artists in the Community, Revitalizing a Manchester Neighborhood” program aims to strengthen the museum’s social impact, which includes deepening their programs for Alzheimer’s patients, families of opioid abusers, the cognitively impaired and combat veterans.
“We appreciate the support of Merrimack County Savings Bank,” said Alan Chong, Director of the Currier Museum of Art. “Contributions like this anchor our visiting artists in the community – both literally and socially – as they bring their creativity to our wider audiences.”
“We’re happy to support the wonderful efforts of the Currier Museum of Art,” said Linda Lorden, President of the Merrimack. “The Currier’s artist-in-residence program will support many social, health and economic challenges faced by many in Greater Manchester and beyond. It’s an honor to be able to contribute in any way we can.”
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 Community Development Finance Authority (CDFA). Any business with operations in NH that contributes to a CDFA tax credit project receives a NH state tax credit worth 75% 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 NH 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. For more information, visit nhcdfa.org.
The Currier Museum of Art is an internationally renowned art museum located in Manchester, NH. The Currier features European and American paintings, decorative arts, photographs and sculpture, including works by Picasso, Monet, O’Keeffe, Wyeth and LeWitt with exhibitions, tours and programs year-round. The Museum also owns homes designed by Frank Lloyd Wright. The museum is open from Thursday to Sunday and most holiday Mondays. For more information, visit currier.org.