Children’s Colorado is one of several Enterprise Zones designated by the State of Colorado to encourage job creation. Colorado residents who make qualifying gifts to Children’s Colorado are eligible for a generous tax credit of up to 25% to use against their state income tax if giving an outright gift of cash, or 12.5% for gifts of appreciated assets, such as stocks and securities.
Outright gifts (unrelated to a special event) of at least $250 to Children’s Hospital Colorado Foundation specifically designated toward the following areas at Children's Colorado qualify for the Colorado Enterprise Zone Tax Credit:
- Prevention and Wellness Fund
- Center for Innovation
- Recruiting and Retention Fund
- Research Enterprise
- Pediatric Mental Health
A larger gift at no extra cost
The Colorado Enterprise Zone Tax Credit reduces the amount of state income tax you pay, in addition to federal and state charitable deductions you may receive for gifts to charity. You can nearly double the size of your gift – and the impact of your generosity – without increasing the net cost to you.
Important information about Enterprise Zone gifts
- For 2019, we define a qualifying gift as an outright gift (unrelated to a special event) of at least $250 to Children’s Hospital Colorado Foundation specifically designated toward our Enterprise Zone program in support of our Prevention and Wellness Fund, Center for Innovation, Pediatric Mental Health, Recruiting and Retention Fund or Research Enterprise (with no subdesignations or restrictions).
- As an organization, Children’s Colorado can accept up to $3 million annually in qualifying gifts that are eligible for Enterprise Zone treatment. Gifts made after the first $3 million annually in qualifying gifts or commitments may not qualify for Enterprise Zone treatment.
- The availability of the Enterprise Zone Tax Credit is subject to change at any time. There is no guarantee the tax credit will continue to be available in future years.
- The amount of credit taken in one year cannot exceed the donor’s state tax liability. However, excess credit may be carried forward for up to five years.
- The maximum credit a donor can claim per tax year is $100,000. At a 25% credit rate, this translates into approximately $400,000 in total qualifying cash donations.
- Gifts of stock qualify for a 12.5% Enterprise Zone Tax Credit.
*The information represented is of a general nature and should not be construed as legal, accounting or tax advice. Every taxpayer’s situation is different. The descriptions and examples provided may not be applicable to every taxpayer’s specific circumstances, which could require the consideration of other tax and non-tax factors. Please consult a tax advisor prior to taking any action based on this information.