Children’s Colorado is one of several Enterprise Zones designated by the State of Colorado to encourage economic growth. 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:
- COVID-19 Emergency Relief Funds
- Cancer Research Fund
- Child Health Research Fund
- Pediatric Mental Health Capital Expansion Fund
- Innovation Fund
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 2020, 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 COVID-19 Emergency Relief Funds, Cancer Research Fund, Child Health Research Fund, Pediatric Mental Health Capital Expansion Fund or Innovation Fund (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 credit. Gifts made in excess of the first $3 million annually in qualifying gifts or commitments will not qualify for the Enterprise Zone credit. In the event that the Foundation receives more than $3 million in qualifying gifts in a single year, the available tax credit will be granted to donors in the order in which those gifts were received.
- 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.
*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.