Nov
2011

Experts Present the Use of Tax Credits To Help Fund Non-Profit Facilities' Needs

In front of a crowd of over 60, GBBN's Steve Kenat and Dale McGirr, along with John Michel of Barnes Dennig, spoke on how non-profit organizations can expand, renovate, or replace their facilities through a variety of federal and state tax credit programs.

The presentation was held at the United Way of Greater Cincinnati, an example of a non-profit organization aided by tax credit funding. The focus was on both federal and state funds available that allow not-for-profits to take advantage of funding from incentive investments in low-income areas, historic building preservation, and energy-efficient building systems.   Kenat explained that organizations don't have to pay taxes to benefit from tax credits. 

Using the United Way and St. Aloysius projects as case studies, the presenters explained how the tax credits work, including setting up a for-profit ownership structure, and eligibility and specifics of the various types of funding, focusing on federal and state levels of New Markets, Historic and Energy. Using this approach, GBBN assisted UWGC in identifying $3 Million in funding for their construction project and St. Aloysius nearly $4 Million for their  historic renovation and addition.  This service is not typically provided by traditional architecture firms and is unique to GBBN.

"The goal of the presentation was to educate people on the resources available, and explain the options," said Kenat. He added, "We want to help our clients understand that if they want to expand, renovate or replace their facility, there are a variety of resources available that we can help them utilize that take full advantage of their Mission to serve the Community."

For more information on how tax credits can be used by non-profit organizations, the entire presentation can be found under the KNOWLEDGE tab of this website or by clicking here.