SUPPORT CHILDREN AND FAMILIES
RECEIVE A 50% STATE TAX CREDIT
The Child Care Contribution Credit seeks to increase the quality and availability of child care in Colorado. The state allows you to take a 50% tax credit on your state income taxes when you donate to qualified child care programs like Catholic Charities Early Childhood Education, Marisol Homes programs and The Family Floor at Samaritan House Denver.
Catholic Charities will mail Child Care Contribution Credit certificates to donors in January with donation amounts qualifying for the tax credit. This 90-second video explains how the entire program works and how you can benefit.
You're Making A Difference!
As a 501(c)(3) tax-exempt organization, Catholic Charities of the Archdiocese of Denver is able to serve others based upon donations by individuals like you, corporations like yours and foundations that have a heart for those in need.
Your financial contributions are needed for us to maintain and grow the services we offer, reaching those in need where they need it most.
By making a gift to the Child Care Contribution Credit you will be supporting our Early Childhood Education Program, Marisol Homes, a shelter for single mothers and The Family Floor at Samaritan House Denver.
Our Early Childhood Education Program provides quality education and child care at six locations in the Denver Metro area. Marisol Homes provides safe and secure emergency and community-based housing for pregnant women, and single women with children, who are experiencing homelessness. We work with these women and families as they integrate back into the community by offering counseling, job skills, workshops and needed quality child care services for their children up to 12 years old.
Learn more about receiving a 50% tax credit
Real Cost of Giving – The table below illustrates how a large part of your Colorado Child Care Contribution Credit donation comes back to you in various tax credits and deductions, to significantly reduce the after-tax cost of your donation.
|
Donation Amount |
$500 |
$1,000 |
$10,000 |
$50,000 |
|
Child Care Tax Credit |
($250) |
($500) |
($5,000) |
($25,000) |
|
Charitable Contribution Tax Savings |
||||
|
Federal |
($76) |
($153) |
($1,527) |
($7,636) |
|
State |
($11) |
($23) |
($228) |
($1,138) |
|
Total Estimated Tax Savings |
$337 |
$676 |
$6,755 |
$33,774 |
|
Net Cost of Giving |
$163 |
$324 |
$3,245 |
$16,226 |
|
Assumptions: — Child Care Tax Credit: 50% Note: The example above is a sample calculation. Please consult with your tax advisor for your specific benefits. |
||||
For more information on taxes, visit the Colorado Department of Revenue website and review their “FYI Income 35 publication”. Please consult your accountant or tax specialist regarding your unique tax situation.
- You can take advantage of the tax credits regardless of whether you itemize or not.
- For those who itemize, the amount of a donation that is not tax credit qualifies for federal income tax deduction.
- Both individuals and corporate donors can benefit from this tax credit program.
- In-kind donations, stock and gifts from donor advised funds are not eligible for this credit.
- Taxpayers over the age of 70½ who are required to make minimum distributions from their Individual Retirement Accounts (IRAs) can make a qualifying contribution directly from their IRAs. Please note that other retirement plans — such as 401(k) plans — cannot qualify. Owners of these plans will need to transfer funds from the 401(k) plans to an IRA before making the charitable distributions.
- If you plan to make a contribution from your IRA, please consult your tax advisor regarding implications of such contribution.
Please mail all donations to:
Catholic Charities
6240 Smith Road
Denver, CO 80216
Make checks payable to “Catholic Charities Archdiocese of Denver.” In the memo of the check, write “Child Care Contribution Credit”.
Call us during business hours to make a secure donation or click to call 720-799-9311 and donate now with your credit card.
According to state regulations, the tax credit must be requested at the time of the donation, so please clearly indicate your desire to donate to the “Child Care Contribution Credit” during the phone call.