Make an Investment in CASA and Claim a 50% Tax Credit
Update: Colorado is not offering the Child Care Contribution Credit in 2011.
CASA has been approved by the State of Colorado to offer the Child Care Contribution Credit. If you are a Colorado taxpayer, you may be eligible to receive a 50% state tax credit on your monetary gift of $500 or more to CASA (in addition to your federal income tax deduction). This is a great way to maximize your investment in CASA’s children!
Sample Gift Amount |
$1,000 |
$10,000 |
| CO Child Care Contribution Credit |
$500 |
$5,000 |
| CO Income Tax Savings |
$46 |
$460 |
| Federal Income Tax Savings |
$267 |
$2,670 |
Total After Tax Investment* |
$187 |
$1,870 |
*Sample assuming a 28% federal income tax rate. Consult your tax advisor to confirm your eligibility and the amount of your tax savings.
Guidelines:
- Gifts must be designated to CASA’s Dependency & Neglect (child abuse) program, Domestic Relations program, or Supervised Exchange and Parenting Time program for children 12 and under.
- Donors must notify CASA in writing (on your check, pledge card, or by an attached letter) that the gift is to be applied to the Child Care Contribution Credit.
- Individual and business donors are eligible (credit varies).
- Only monetary gifts apply. In kind gifts, gifts of property, and gifts of securities do not qualify.
- The tax credit is limited to $100,000 annually or Colorado income tax liability, whichever is less. Excess tax credits may be carried for five years.
- CASA will gladly send you a signed letter and Form DR 1317 that states the amount of cash contributed and the eligible purpose for which the contribution was made.
- Donors must contact their tax advisor when preparing taxes.
Questions? Call Jill Wright at 447-9898
ext. 1002 or send us an email.
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