Goodwin Community Health announced it received a $25,000 donation from Federal Savings Bank. This is the second sizeable donation Federal Savings Bank has made to Goodwin. In 2010, the Bank also made a $25,000 contributio
n to Goodwin’s Capital Campaign and officially named the lobby of the then new Center. Both the 2010 and 2015 donations were part of the state wide CDFA created Tax Credit Program which gives companies like Federal Savings Bank a seventy-five percent, or in this case, a $18,750 state tax credit on each of the donations.
“Purchasing Tax Credits through Goodwin Community Health allows Federal Savings Bank to keep tax dollars local and direct them towards a cause in which we strongly believe in – positively impacting the communities we serve and in this case, providing quality health care to the uninsured and underinsured members of our community,” said President & CEO, James J. O’Neill, Jr.
“Goodwin Community Health provides invaluable services to our community and Federal Savings Bank is proud to play a role in the continued success of the organization. During these challenging economic times, improving healthcare access and reducing health disparities is more important than ever,” he added.
Nonprofits, like Goodwin Community Health that are awarded state tax credits, are responsible for raising donations in the amount of their tax credit award from for-profit businesses that have a New Hampshire state tax liability. The Tax Credit Program enables businesses to invest cash, securities, or real property to fund CDFA-approved projects in exchange for a 75% state tax credit that can be applied against the New Hampshire business profits, business enterprise, and insurance premium taxes. For instance, a business donating $10,000 to CDFA on behalf of an approved project will receive a tax credit in the amount of $7,500. The donation is also eligible for treatment as a federal charitable contribution.
CDFA, created by legislation in 1983, is a nonprofit public instrumentality of the State of New Hampshire. CDFA administers over $30 million in funding resources, which includes a combination of state tax credits, CDBG, and Neighborhood Stabilization funding. CDFA supports affordable housing and economic development activities that benefit low- and moderate-income citizens. For more information about CDFA and its programs visit www.nhcdfa.org or call 603-226-2170.
Federal Savings Bank has remained headquartered in Dover, New Hampshire for 125 years and proudly continues to provide banking services to local families and businesses in the greater Seacoast area. The Bank has offices in Dover, Barrington, Durham, Portsmouth and Rochester. For more information, call 603-742-4680 or visit www.fsbdover.com, or www.facebook.com/federalsavingsbank.
Goodwin Community Health is the only 501(c)(3) Community Health Center serving the Greater Strafford County area of New Hampshire and Maine. We make it affordable for local people to access the wellness services and quality primary care that lead to good Physical, Dental and Mental Health. Goodwin Community Health operates on the same principles Mrs. Avis Goodwin started the organization on 42 years ago – everyone deserves access to quality health care, at an affordable price. For more information connect with us on Facebook, at www.GoodwinCH.org or visit the new Goodwin Community Health Center in Somersworth, New Hampshire.
Cutline: Federal Savings Bank of Dover makes $25,000 Donation to Goodwin Community Health. (LtoR) Gary DeColfmaker, Goodwin Business Development; Tiffany Melanson, Federal Savings Bank Assistant Vice President of Marketing & Public Relations; Janet Laatsch, Goodwin CEO, James J. O’Neill, Jr., Federal Savings Bank President & CEO