“Cambridge Trust is proud to support the Black Heritage Trail of NH. As a company, we have always been staunch supporters of efforts to eradicate racism and inequity in our communities. The Trail’s mission is a perfect example of this kind of effort. We hope that our backing will assist the Trail in its work toward building more inclusive communities.”

Daniel Morrison,  Chief Executive Officer at Cambridge Trust New Hampshire

Portsmouth, New Hampshire…In 2016, the Black Heritage Trail of New Hampshire (BHTNH) made news when it received the highest dollar award of tax credits of all nonprofits awarded that year by the NH Community Development Finance Authority (CDFA) as part of its statewide total of $4 million. Statewide, those tax credits are expected to focus on economic development, downtown revitalization and developing affordable housing. Tax credits awarded to BHTNH were used to purchase an historic building in downtown Portsmouth to serve as an interpretive center and office space for the organization. Since 2016, BHTNH has made that dream come true with its new space at 222 Court Street.  Today, the Black Heritage Trail of NH is proud to announce that all $450,000 in tax credits have been sold.

According to Executive Director, JerriAnne Boggis, “We are thrilled that NH businesses came forward to support the work of the Trail and to help with establishing our new headquarters/visitor center. Their investment in purchasing tax credits make it possible for us to continue our valuable work. Our organization works hard to honor and share a truer, more inclusive history through exhibits, educational programs, curriculum development and tours that can change the way we understand human dignity when it’s free of historical stereotypes.”

What are tax credits?
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 NH that contributes to a NH 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. NH 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. Katy Easterly Martey, Executive Director of NH CDFA, said the agency’s tax credit program “is uniquely structured to enable effective, reliable deployment of public and private resources to our nonprofit partners. The result is the creation of long-lasting public-private partnerships that achieve critical local initiatives that enable our communities to be more resilient, vibrant places people want to work, live, and visit.”

“One of the great joys I’ve experienced as President of the Bank is the ability to support a multitude of worthy nonprofits,” noted Rick Wyman, President of Meredith Village Savings Bank (MVSB). “Supporting the Black Heritage Trail was an easy decision for us. The organization ensures everyone has the opportunity to learn about the full history of the people of NH. Both the BHTNH and MVSB have new offices in Portsmouth – and both have a presence throughout the state and a rich history that is decades, even centuries, long. We hope that lots of people participate in their many programs, tours and visit the Trail throughout NH.”

 Tax Credit Purchasers

The Black Heritage Trail of New Hampshire is grateful to all the New Hampshire businesses who purchased tax credits on behalf of our organization; your support makes our statewide work possible.  Thank you to Brady Sullivan; Cambridge Trust; Davis Care Group; Grappone Automotive Group; Jalbert Leasing; Launch Angels Management Co.; Living Innovations; Meredith Village Savings Bank; Newburyport Five Cents Savings Bank; One Middle Street LLC; Peterson Engineering Group; Piscataqua Savings Bank; Rath, Young and Pignatelli; ReVision Energy; and Sanel Nappa Autoparts of NH

“All of us at the Trail are grateful for the investment made by these NH based businesses.  These companies understand the critical importance that a diverse New Hampshire is a thriving New Hampshire,” stated Board Chair, Rev. Robert Thompson.

See more on BHTNH Tax Credits and Purchasers here