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06/05/2007

Baby Haven Contribution Tax Credit


Category: Feature
Posted by: htyber

A 50% Colorado State Income Tax Credit is available to donors who make monetary contributions to Friends of the Haven for establishment and operation of a new Child Care Center at Ft. Logan. The credit is available under the provisions of the Colorado Child Care Contribution Credit created for the purpose of promoting child care in Colorado. The effect of the credit is that half of your donation to the Baby Haven is offset by a reduction of your Colorado income taxes. In addition you are still able to claim your full contribution as a charitable deduction on your federal income tax return if you itemize deductions.

Typical Tax Savings for the Colorado Child Care Contribution Credit

Federal Income Tax Bracket 28% 35%
Contribution $1,000 $1,000
Colorado Child Care Contribution Credit ($500) ($500)
Charitable Deduction Federal Tax Savings ($280) ($350)
Charitable Deduction State Tax Savings (4.63%)
 ($46)  ($46)
Related Federal Tax Effect $140 $175
Net Cost to Donor of a $1,000 Gift $327 $295

* Lower state taxes reduce the deductions for federal taxes. Please consult with your tax advisor. There could be other tax effects and all tax situations are different. Separate accounting is required for the Colorado Child Care Contribution Credit.

Please make checks payable to the Baby Haven. Contributions of any size are welcome but a $200 minimum is preferred.


Mail your check to:

Friends of the Haven
PO Box 102375
Denver, CO 80250

Online by credit card:

Friends of the Havenisa Colorado non profit corporation qualified as a 501 (c) (3) Federal EIN 20-5634004.

 


Feature Story

10/21/2010
Category: Feature
Posted by: knice

To learn more about The Haven click on the link below and watch the short inspirational video put together by Mile High United Way titled, "School Readiness Initiative".

                                 Mile High United Way Campaign Video

News

12/30/2011
Category: News
Posted by: knice
The November 2011 Newsletter is available on-line now. Please click here to download it. (Adobe reader required)
08/21/2011
Category: News
Posted by: knice
The August 2011 Newsletter is available on-line now. Please click here to download it. (Adobe reader required)
11/30/2010
Category: News
Posted by: knice
The December 2010 Newsletter is available on-line now. Please click here to download it. (Adobe reader required)


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