Merrimack County Savings Bank has purchased $25,000 in tax credits through the New Hampshire Community Development Finance Authority (CDFA) in support of Kimball Jenkins in Concord. Funds will help improve the accessibility and efficiency of their historic property, which serves as a cultural and economic hub for local artists and events.
“We’re pleased to be able to contribute to the renovation and preservation of such a cultural and historic landmark like the Kimball Jenkins Estate, which pre-dates the American Revolution,” said Linda Lorden, President of The Merrimack. “Kimball Jenkins cultivates creativity and makes art education accessible to everyone in the community. I’m happy that The Merrimack’s support will help further their good work and mission.”
“On behalf of the thousands of visitors to our campus annually, we are immensely grateful to The Merrimack for their generous support,” said Julianne Gadoury, Executive Director. “Funds will directly increase visitor accessibility, while staying committed to the highest standards in historic preservation. These efforts will position Kimball Jenkins as a more competitive venue for organizational gatherings and cultural events because we are prioritizing access to our grounds for all our community members. Economic opportunities for the many businesses, organizations and artists who utilize our estate will increase as a result of this investment. We sincerely can’t thank all of our corporate supporters enough for their commitment to creating accessible opportunities in the arts and history for our community.”
Located on a historic estate, Kimball Jenkins serves thousands of students and visitors each year through educational and cultural programming. They are a regional hub of economic activity and a home for many community organizations to gather. Each year, more than $20,000 is awarded in scholarships and free afterschool programming to middle and high school youth. Kimball Jenkins is also home to a popular summer camp in the arts and history. For more information about educational opportunities, visit kimballjenkins.com. Visit nhcdfa.org/kimball-jenkins for more information about purchasing CDFA tax credits from Kimball Jenkins.
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.