Along with community perseverance and willpower, funding will be an essential topic in the development of your preservation project. Funds can come from multiple sources including donations, grants, loans, venture capital, as well as business angels, and incubators.
Similar to tax deductions, tax credits encourage private giving by lowering individual costs for those who make charitable contributions. While those interested in the use of tax credits are strongly advised to consult an accountant, tax attorney, legal counsel, or the Internal Revenue Service, this opportunity is not often spoken about and is one that should be known and considered within current and future historical preservation projects.
Grants are opportunities for funding through the federal government. By providing funds for preservation projects, the government provides a public service that also stimulates the economy. Applying for grants is a direct first steps in obtaining funds for any project. In fact, many grants exist specifically for preservation projects depending on location. The National Parks Service provides many grant opportunities through sources including the State, Tribal, and Local Plans and Grants Division, which manages grant programs assisting in historic preservation and community projects. The Massachusetts Preservation Projects Fund, established to support the preservation of properties, landscapes, and cultural resources; as well as the National Trust for Historic Preservation, which encourages preservation at the local level by providing seed money for preservation projects.
Conservation Land Trusts play a critical role in uncovering stories that enrich the understanding of the relationship between people and land. They take the form of non-profit organizations that work passionately to advance federal policies and to protect resources supporting land conservation
No matter the location, fundraising is another great way to support a project. Identifying the project’s purpose will help kickstart the fundraising and help determine the needs, amount, expenses, and timeframe of your project.