Meredith Village Savings Bank supports Black Heritage Trail of NH

PORTSMOUTH — Meredith Village Savings Bank has purchased $25,000 in tax credits through the New Hampshire Community Development Finance Authority in support of the Black Heritage Trail of New Hampshire. The investment supports the Black Heritage Trail’s mission to interpret and share New Hampshire’s African American history through exhibits, programs, and tours. 

“We’re very thankful for this generous contribution from Meredith Village Savings Bank,” said Executive Director JerriAnne Boggis of the Black Heritage Trail of New Hampshire. “Contributions like this one make it possible for us to continue our valuable work. Our organization works hard to honor and share a truer, more inclusive history through exhibits, educational programs, curriculum development, and tours that can change the way we understand human dignity when it’s free of historical stereotypes.”

Portsmouth has been home to Africans and African-Americans for more than 350 years, and the Black Heritage Trail was founded from the examination and study of their stories. The state of New Hampshire has an African heritage dating back to the arrival of Europeans. Much of that history centers on the state’s only port in Portsmouth, where as many as 700 blacks were brought to New Hampshire by way of the American Revolution, while others were part of a little-known free society.

Against the odds of early enslavement and subsequent marginalization, Africans and their descendants built communities and families, founded institutions and served their town, state, and nation in many capacities.

“One of the great joys I’ve experienced as president of the bank is the ability to support a multitude of worthy nonprofits,” said Rick Wyman of Meredith Village Savings Bank. “Supporting the Black Heritage Trail was an easy decision for us. The organization ensures everyone has the opportunity to learn about the full history of the people of New Hampshire. Both the BHTNH and MVSB have new offices in Portsmouth, and both have presence throughout the state and a rich history that is decades, even centuries, long. We hope that lots of people participate in their many programs, tours, and visit the Trail throughout New Hampshire.”

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. The tax credits are administered by the New Hampshire Community Development Finance Authority.

Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a New Hampshire state tax credit worth 75% of the 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 New Hampshire 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.