Homeless Contribution Tax Credit
A Woman's Place is eligible for the Homeless Contribution Tax Credit! That means a cash donation of $100 or more may qualify you for a 25% state tax credit.
What is the Homelessness Contribution Tax Credit (HCTC)?
The Colorado Homeless Contribution Income Tax Credit (HCTC) aims to encourage donations to approved non profit organizations that help individuals and families experiencing homelessness. The Colorado Homeless Contribution Income Tax Credit is a voluntary program that allows a dollar-for-dollar reduction in state taxes owed.
When taxpayers make a certified contribution, they can claim the following:
25% of their donation (monetary or value of in-kind) as a state income tax credit if contributed to a qualified organization.
What qualifies as a monetary contribution or value of in-kind contributions?
If monetary, the donation must be at least $100. If in-kind, the donation needs to be valued at least $5000. The total value of tax credits allowed per taxpayer per year may not exceed $100,000. Donations to A Woman’s Place made through Colorado Gives Day website are currently eligible. Qualified Charitable deductions from an IRA are eligible.
Note: Per state guidelines, gifts made from a donor advised fund are currently ineligible for the tax credit.
A Woman’s Place has two programs which qualify for HCTC:
What personal information is required to receive the tax credit?
Personal information is required by the Department of Revenue to verify identity.
● First and last name as it appears on your tax return
● FEIN number (if contributing from a business)
● Full Social security number (if individual contribution - this is a State requirement of the HCTC)
● Address
When will a donor receive their tax credit certificate?
Once an eligible donation is received, the nonprofit needs to talk with the donor to obtain contribution information and donor’s information. The donor should email Diane Heldt, Executive Director at [email protected] to request participate in the HCTC. Diane will call you to obtain your donation information and personal information (Please do not email your social security number!). A Woman’s Place will upload the information into a state database. The donor will receive their tax credit certificate via email within 1-2 weeks.
HCTC Limitations
To participate in HCTC tax returns must be filed electronically with the Colorado Department of Revenue. donations made through workplace giving programs facilitated by third-party organizations like Benevity and other intermediary or “pass-through” organizations such as a Donor Advised Fund, United Way, will not be eligible for the 25% HCTC tax credit.
Consult with your professional tax adviser to be sure the HCTC program will be of benefit to your specific tax situation.
Who should I contact to learn more about A Woman’s Place and the tax credit or if I have questions?
For more information about your eligibility to participate in the Homelessness Contribution Tax Credit, please email Diane Heldt, Executive Director at [email protected].
HCTC Additional Resources
For your convenience, we have gathered several HCTC resources that can help you learn more about the program and how it may apply to your donations.
Here's what you need to do:
1. Make a qualifying gift of $100 or more.
2. Tell us you want the tax credit. You must indicate your desire for the Homeless Contribution Tax Credit. Please email Diane Heldt, Executive Director at [email protected] regarding your donation. You will need to give the last four digits of your social security number if you are wanting this credit.
3. Receive your gift receipt and tax credit certificate. You will receive your HCTC tax credit certificate via email in 1-2 weeks (current processing guidelines are set by the state, so this could take longer).
The Colorado Homeless Contribution Income Tax Credit (HCTC) aims to encourage donations to approved non profit organizations that help individuals and families experiencing homelessness. The Colorado Homeless Contribution Income Tax Credit is a voluntary program that allows a dollar-for-dollar reduction in state taxes owed.
When taxpayers make a certified contribution, they can claim the following:
25% of their donation (monetary or value of in-kind) as a state income tax credit if contributed to a qualified organization.
What qualifies as a monetary contribution or value of in-kind contributions?
If monetary, the donation must be at least $100. If in-kind, the donation needs to be valued at least $5000. The total value of tax credits allowed per taxpayer per year may not exceed $100,000. Donations to A Woman’s Place made through Colorado Gives Day website are currently eligible. Qualified Charitable deductions from an IRA are eligible.
Note: Per state guidelines, gifts made from a donor advised fund are currently ineligible for the tax credit.
A Woman’s Place has two programs which qualify for HCTC:
- Case management and advocacy support for our clients. We are eligible to provide up to $750K in tax credits annually.
- Capital Campaign for building a new safehouse. We are eligible to provide an additional $750K in tax credits annually.
What personal information is required to receive the tax credit?
Personal information is required by the Department of Revenue to verify identity.
● First and last name as it appears on your tax return
● FEIN number (if contributing from a business)
● Full Social security number (if individual contribution - this is a State requirement of the HCTC)
● Address
When will a donor receive their tax credit certificate?
Once an eligible donation is received, the nonprofit needs to talk with the donor to obtain contribution information and donor’s information. The donor should email Diane Heldt, Executive Director at [email protected] to request participate in the HCTC. Diane will call you to obtain your donation information and personal information (Please do not email your social security number!). A Woman’s Place will upload the information into a state database. The donor will receive their tax credit certificate via email within 1-2 weeks.
HCTC Limitations
To participate in HCTC tax returns must be filed electronically with the Colorado Department of Revenue. donations made through workplace giving programs facilitated by third-party organizations like Benevity and other intermediary or “pass-through” organizations such as a Donor Advised Fund, United Way, will not be eligible for the 25% HCTC tax credit.
Consult with your professional tax adviser to be sure the HCTC program will be of benefit to your specific tax situation.
Who should I contact to learn more about A Woman’s Place and the tax credit or if I have questions?
For more information about your eligibility to participate in the Homelessness Contribution Tax Credit, please email Diane Heldt, Executive Director at [email protected].
HCTC Additional Resources
For your convenience, we have gathered several HCTC resources that can help you learn more about the program and how it may apply to your donations.
- Colorado Homeless Contribution Income Tax Credit | Department of Local Affairs
- Colorado Homeless Contribution Tax Credit FAQ and Definitions
- Social Security Number Requirement for Colorado Homeless Contribution Tax Credit
Here's what you need to do:
1. Make a qualifying gift of $100 or more.
2. Tell us you want the tax credit. You must indicate your desire for the Homeless Contribution Tax Credit. Please email Diane Heldt, Executive Director at [email protected] regarding your donation. You will need to give the last four digits of your social security number if you are wanting this credit.
3. Receive your gift receipt and tax credit certificate. You will receive your HCTC tax credit certificate via email in 1-2 weeks (current processing guidelines are set by the state, so this could take longer).
