COIN CDFI Tax Credit Program
How it Works
COIN allocates a state tax credit of 20% on Qualified Investments of $50,000 or more that are invested for no fewer than 60 consecutive months. Every $5 of private investment in COIN Certified CDFIs is eligible for $1 in state tax credits. Qualified Investments are monitored for consistency with COIN’s mission statement and compliance with program guidelines.
A Qualified Investment must be:
- A deposit or loan that does not earn interest;
- An equity investment; or
- An equity-like debt instrument
The COIN CDFI Tax Credit Program requires CDFIs to apply for tax credits on behalf of the investor(s). Investors interested in receiving a tax credit through the COIN Program are encouraged to partner with one or more of the COIN certified CDFIs.
How to Apply
Once a CDFI receives a qualified investment, here are the steps to apply:
- Review the Application Guidelines
- Complete and assemble the following (This list is not exhaustive and only outlines the most commonly requested items. Please refer to the application guidelines for more complete information):
- COIN CDFI Tax Credit Program Application Form
- COIN CDFI Impact Metrics
- Detailed Narrative (see application guidelines)
- Original Copy of the investment agreement
- Receipt showing investment transmittance
- Bank statement showing cleared deposit
- The completed application package with original copies must be received by COIN before 5pm on the application deadline.
- California Organized Investment Network
- California Department of Insurance
- 300 S. Spring Street, 11th Floor
- Los Angeles, CA 90013