Tax Credit Partner Opportunity
Become a tax credit partner with Fairmount CDC and directly support Philadelphia neighborhoods. Businesses can receive up to $100,000 in annual tax credits for investing in economic development projects that drive local growth. Fairmount CDC is seeking two partners to join our application - contact us by January 1 to participate.
Mission & Evolution
The organization was founded in 1999 to strengthen the local economy of the Art Museum District neighborhoods. After focusing on Fairmount Avenue through its first decade, FCDC relocated to Girard Avenue to bring more resources to the 100+ businesses on Brewerytown’s primary commercial corridor. While we have a 25-year record as advocates and leaders, there is more work to do to meet our mission.
We are now rebranding to reflect our role “from Fairmount Park to Broad Street,” and ambition to see the business community and commercial corridors of Girard and Fairmount thrive as Philadelphia’s most diverse, accessible and inclusive business district. Tax credit business partners are essential for achieving this impact.
The Impact of Becoming a Tax Credit Partner
What is the cost? How does my business benefit?
Participation for many is cost-free. Businesses receive a tax credit equal to the amount they contribute - a dollar for dollar reduction in their tax liability. As long as you have BIRT liability equal to the investment, your tax credit will offset your contributions, while raising your community impact and reputation.
The tax credit creates a win-win opportunity - business partners see their taxes directly empower communities, while providing essential operating support for our mission-driven work. Partners publicize their participation alongside their community service efforts, and FCDC meets regularly with our business partners to share the impact and brainstorm additional ways to collaborate.
Businesses must have $50,000-$100,000 in Business Income and Receipts Tax (BIRT) liability annually and provide a point of contact to review and submit annual reports prepared by FCDC.
What should i do next?
Contact our Executive Director, Patrick Sherlock, to learn more email@example.com - 215-232-4766
This is an exclusive opportunity for one or two partners. To ensure a greater chance of being selected, commitments must be made by December, 2023.
Space is limited with only one or two partnership opportunities available for a 10-year tax credit commitment starting in 2024.