Make every dollar count.
Growing your Giving – Tax Benefits
Colorado Child Care Tax Credit
- Donors who give to specific Eagle Valley Community Foundation projects may be eligible to receive the Colorado Child Care Tax Credit.
- As a supporting program of licensed child care programs, Colorado taxpayers who contribute to Eagle Valley Community Foundation may be able to decrease the after-tax cost of gifts by more than 50%.
- Standard Limitations:
- Credit is allowed at 50% of donation amount.
- The credit allowed shall not exceed $100,000 per year.
- The credit allowed shall not exceed the tax liability for the year.
- Credits may be carried forward for up to 5 years.
- Credit is not valid for stock transfers, in-kind donations or gifts made through a foundation or donor advised fund.
Colorado Homelessness Tax Credit
- Donors who give to specific Eagle Valley Community Foundation projects may be eligible to receive the Colorado Homelessness Tax Credit.
- Created by Colorado House Bill 2022 – 1083 (HB22-1083), the Colorado Homeless Contribution Income Tax Credit provides a tax credit to Colorado taxpayers that contribute to eligible homelessness related projects within Colorado. When taxpayers make a certified contribution, they can claim:
- 25% of their donation (monetary or value of in-kind) as a state income tax credit if contributed to a qualified organization headquartered in a non-rural community.
- 30% of their donation (monetary or value of in-kind) as a state income tax credit if contributed to a qualified organization headquartered in a rural community.
- Any Colorado taxpayer can support a Homeless Contribution Income Tax Credit project located anywhere in the State of Colorado. A taxpayer is an individual resident or an eligible domestic or foreign corporation, a partnership, S corporation, or other similar pass-through entity, and a partner, member, and subchapter S shareholder of such a pass-through entity.
- The taxpayer cannot directly benefit from the contribution. Cash contributions must be a minimum of $100. The total value of tax credits allowed per taxpayer per year may not exceed $100,000.
As with all charitable donations, please consult your tax specialist or accountant.