NHTrust has purchased $20,000 in tax credits as well as a $5,000 direct contribution in support of The Colonial Performing Arts
Center in Keene. These funds will support the renovations of The Colonial Performing Art Center’s historic theatre.
“We’re very thankful to our community partners, including NHTrust,” said Alec Doyle, Executive Director, The Colonial Performing Arts Center. “This project will be extraordinarily beneficial to our region for a long time to come. With our new SHOWROOM now complete, the community will have a fantastic multipurpose venue for events while construction continues on our main theatre over the coming year. When both stages are completed, The Colonial will play a significant role in re-energizing our entire community once the health care crisis ends.”
“NHTrust is pleased to do as much as we can to support The Colonial Performing Arts Center in fulfilling their vision to be the model regional performing arts center, exciting, educating, and challenging audiences of all ages,” noted Paul Provost, President of NHTrust. “Our clients and community are excited about supporting local artists and performers, and The Colonial Performing Arts Center’s goal to bring the cultural and creative spirit of their community to life serves that important need. NHTrust is committed to delivering enduring community leadership and support through trustworthy corporate citizenship and responsible individual and company actions. We support organizations that help make our communities better places to live for all of us, and The Colonial Performing Arts Center is certainly doing that.”
Local Businesses who wish to support The Colonial Performing Arts Center are encouraged to so and can Contact Eric V. Weisenberger, Director of Development, at firstname.lastname@example.org or 603.357.1233 x104 to learn more. The tax credits are administered by the New Hampshire Community Development Finance Authority (CDFA). CDFA 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. Any business with NH operations that contributes to a CDFA tax credit project receives an 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. 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. For more information, visit nhcdfa.org
Named to the New Hampshire State Register of Historic Places in 2004, The Colonial Theatre is the Monadnock Region’s preeminent performing arts venue and a key component in downtown’s economic engine Keene and the surrounding area. Annually, more than 50,000 patrons enjoy performances ranging from international touring productions and concerts to niche film screenings to locally produced performances.
The Colonial’s Student Matinee Series engages more than 8,000 students and their educators from over 70 area schools to experience various programs and workshops. Local arts organizations and other nonprofits use The Colonial’s production resources and rely on the theatre as their performance home and fundraising venue, enhancing the cultural and creative spirit of the Monadnock Region.