Monadnock Family Services’ initiative to purchase the Jaffrey building housing its Monadnock Adult Care Center has received major support from the state’s Community Development Finance Authority (CDFA) and from three regional foundations.

The CDFA’s Community Development Investment Program has awarded MFS $200,000 in state tax credits.  Businesses can purchase the tax credits from MFS in exchange for a cash contribution to the agency’s capital fund for the purchase of the building.  The contribution can be applied against New Hampshire’s business profits, business enterprise, and insurance premium taxes.  Any contribution also can qualify as a deduction against the business’s federal tax bill.

By purchasing the building instead of leasing, MFS estimates that the adult care center will save more than $30,000 a year – funds that can be reinvested in the center’s services and programs.

“Businesses in the Monadnock region can use this opportunity to channel their tax dollars directly to a needed project that benefits their own community,” notes Kenneth Jue, MFS’s chief executive officer.  “Demand for daytime care and services for elders will only continue to grow in our area.”

Businesses must purchase the tax credits before the end of December 2008.  The credits will be allotted on a first-come, first-served basis and all gifts, no matter how small, qualify for the tax deductions.

MFS’s project also has received a $25,000 grant from the Gilbert Verney Foundation, a $20,000 gift from the Samuel P. Hunt Foundation, a $15,000 donation from the Arthur Getz Charitable Trust, and contributions from numerous individuals.  To date, MFS has raised more than $100,000 toward the purchase.

The Monadnock Adult Care Center is a medically licensed day center staffed by nurses.  The center provides medical supervision, meals, activities, and outings five days each week for adults who are elderly, frail, in need of medical supervision, or needing nursing care following a major medical procedure, as well as respite for family caregivers.

Monadnock Family Services (MFS) is a non-profit, comprehensive, community-based mental health agency that has been serving southwestern New Hampshire since 1905.  Our 224 team members serve approximately 7,000 people annually through 40 programs in family support, parent education, youth development, substance abuse prevention and treatment, eldercare, veterans counseling, and treatment for individuals and families struggling with mental illness.