The CDC Tax Credit Program
currently has five available openings for businesses seeking to partner with and contribute $85,000 per year for ten years to a Qualifying Organization.
The Department of Revenue is accepting applications from businesses starting March 19, 2014 at 9 am. All applications are accepted on a "first come-first serve basis". If there are more applicants than the five available openings, the applicable law and regulations will be used to make the selection.
Qualifying Organizations include qualified community development corporations performing economic development services and up to one qualified non profit intermediary, providing technical assistance to community development corporations. Bill No. 130853, which was passed by City Council on February 6, 2014 and signed by the Mayor on February 19, 2014, amends Section 19-2604 of the Philadelphia Code to increase the number of Nonprofit Intermediaries, from three to four, that can participate in the Business Income and Receipts Tax Credit Program for Contributions to Qualifying Organizations. There are 3 Nonprofit Intermediaries already participating, if selected, one additional Nonprofit Intermediary may be eligible to participate.
The application can be found here