August 1, 2017 (Washington, DC) — Today, Summit Consulting publishes a report examining the New Markets Tax Credit Program, a program of Treasury's Community Development Financial Institutions Fund (CDFI Fund).
"Compliance Review of New Markets Tax Credit Program" is the culmination of Summit's engagement with the CDFI Fund to research compliance practices and outcomes. Specifically, the study examines characteristics affecting financial outcomes for program participants, industry best practices, and compliance. This study is the first to include an in-depth review of project-specific documentation, interviews, and community distress of project locations.
"This is the most in-depth study of the NMTC program ever conducted," Summit Principal Anthony Curcio said. "The effort reveals fascinating insights into this $50 billion program. Policy makers will find that this report makes a substantial contribution to tax credit research."
Summit has been a trusted advisor to Treasury's CDFI Fund since September 2011, when the firm was contracted to support the CDFI Fund in the development of the CDFI Bond Guarantee Program, a Federal Credit direct loan program authorized by the Small Business Jobs Act of 2010.
About Summit:
Summit is a specialized analytics advisory firm that guides Federal agencies, financial institutions, and litigators as they decode their most complex analytical challenges. Summit’s staff of economists, econometricians, and research scientists use quantitative techniques to assist our clients as they model risk, evaluate program performance, and predict future performance.
At Summit, we solve complex analytical challenges with unparalleled customer service and extensive client collaboration. Our distinct capabilities include program evaluation, applied statistics and economics, mortgage finance, health claims data analytics and training, federal credit modeling and forecasting, and litigation analytics.
Summit hosts a solutions-focused academic environment and is dedicated to staying at—and pushing—the forefront of analytics best practices. To that end, our staff members present research at conferences worldwide and partake in intensive in-house technical trainings. Our Principals, Academics, and Research Scientists are recognized experts in their fields and they are capable of leading large and small solution teams. Find out more about Summit by visiting the company website: http://www.summitllc.us/