Monarch School of New England Celebrates its NHCDFA and Community Partners with the Completion of its New Regional High School
In August 2016, the New Hampshire Community Development Finance Authority (CDFA) awarded $5.325 million in tax credits to 17 nonprofits in New Hampshire. The Monarch School of New England was proud to be part of this group, being awarded $500,000 to build a new regional high school and vocational center for students with disabilities in Rochester, New Hampshire.
One year later in August 2017, the newly built school stands in a beautiful, open field on 13 Monarch Way, ready to assist young adults with disabilities, to learn academics and prepare for entry into the workforce.
None of this would have been possible without the support to-date, of our 12 community partners participating in the CDFA’s tax credit program in addition to a generous donation from the Joseph Behre Family. As 2017 moves towards 2018, more new partners are expressing interest in purchasing tax credits.
The New Hampshire Community Development Finance Authority’s tax credit program works for the Monarch School of New England because when a business partner purchased a tax credit in support of the school, not only did the school receive the donation but the business partner received a 75 percent state tax credit as a result of that donation.
As David Mansfield, Chief Executive Officer of The Provident Bank states, “The Provident Bank is a big believer in CDFA because it allows businesses to give more, which enables a non-profit like the Monarch School of New England to do a project on this scale.” Similar support is reflected in the 12 testimonials of our business partners that follow.
Diane Bessey, Executive Director and Susan DeRoy, Director of Business Development at the Monarch School of New England couldn’t agree more. “To see what has been done over the past year with the support of our business partners is amazing. We are grateful and so thrilled.”
About Monarch School of New England
Monarch School of New England is a day school for students ages 5 to 21 years old with significant physical, medical and developmental disabilities. For more information about the Monarch School of New England, please visit monarchschoolne.org
About The Provident
The Provident Bank is an innovative, commercial bank that finds solutions for our business and private clients. We are committed to strengthening the economic development of the regions we serve, by working closely with businesses and private clients and delivering superior products and high-touch services to meet their banking needs. The Provident has offices in Massachusetts and New Hampshire. All deposits are insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).