On Oct. 18, the Heart of Camden nonprofit organization – along with state and local officials and corporate partners – celebrated a $1 million investment as part of the Department of Community Affairs’ Neighborhood Revitalization Tax Credit (NRTC) program. 

The NRTC program, which is administered by DCA’s Division of Housing and Community Resources, connects community-based renewal projects with funding from Garden State companies that wish to support them. 

The Heart of Camden‘s award was funded by Campbell Soup Co. and New Jersey American Water, which are both headquartered in the city. The grant will support the organization’s Catch the Wave: Waterfront South Neighborhood Plan, which outlines recommendations and strategies guiding revitalization initiatives in the community over the next 10 years. 

In the Oct. 18 announcement, Heart of Camden Executive Director Carlos Morales thanked the corporate partners and DCA for the investment. 

“This funding will support our projects and programs of affordable housing, community development, direct family services, and our youth programs and mentorship through the Michael J. Doyle Fieldhouse Gym,” Morales said.

“For years, the Neighborhood Revitalization Tax Credit program has successfully worked to connect corporations with meaningful neighborhood projects that benefit residents and small businesses and help rejuvenate communities,” said acting DCA Commissioner Jacquelyn Suárez, who thanked all program participants and said the division looked forward to the benefits to the Waterfront South neighborhood. 

Campbell and New Jersey American Water leaders also shared their enthusiasm for the program and commended the Heart of Camden for its work. 

“We are proud to participate in this program and support continued investment in Camden, our hometown of over 150 years,” said Kate Barrett, Campbell’s director of community affairs and president of The Campbell’s Foundation. 

Mark McDonough, president of New Jersey American Water, added, “We’re proud to support Heart of Camden’s plans for Waterfront South, and we’re appreciative of the state’s NRTC program, which continues to be a critical asset in delivering lasting, real change.” 

In July, New Jersey American Water announced it distributed $950,000 in grant funding to three nonprofit organizations in its hometown of Camden through the NRTC program, including the Heart of Camden. 

How it works

The NRTC program provides participating businesses with a 100% tax credit for funds provided to the chosen nonprofits, according to the DCA website. The recipients must then use at least 60% of the funds for housing and economic development, and the remainder can be used for other services and activities that promote neighborhood revitalization.

This spring, DCA announced the largest amount of funding the program ever awarded: $21.75 million to 27 community-based nonprofit organizations across the state: