Father Woody’s Haven Of Hope is certified as an Enterprise Zone project because of the services it provides to homeless families.
Donating a minimum amount of $250.00, one time or cumulative for the year, provides you, the donor, an additional 25% tax credit. Professional services or in-kind donations over $250.00 also qualify for an Enterprise Zone credit of 12.5%.
Tax Saving Example
EZ STATE TAX CREDIT 25% (250)
CO STATE INCOME TAX (48)
FEDERAL INCOME TAX SAVINGS (248)
AFTER TAX COST OF GIVING $454
Federal Tax deduction is reduced to these figures because of add back effect of reduced state tax. Your situation may be different. Consult your tax advisor.
The credit from Colorado State income tax is in addition to your regular federal and state charitable tax deduction. Any individual or corporation that owes Colorado State income tax can take advantage of these tax programs. Cash gifts receive the standard federal deduction and the 25% state tax credit.
Donor may give gifts of stock, but tax credit will vary. An outright gift of stock receives 12.5% tax credit. If this gift is accompanied with a cash gift that is one seventh the value of the stock, the total credit goes from 12.5% to 25%. A gift of appreciated stock can also avoid capital gains tax.
Tax Saving Requirement!
In order for the State to qualify your Tax Savings, we require you to provide your Social Security Number or your Colorado Account Number to our Business Manager.
Father Woody’s Haven of Hope
c/o Ondrea Trahan
1101 W 7th Ave
Denver, CO 80204
(303) 607-0855 ext 107
Please help us help you save hundreds on your tax return!
* If you’re not comfortable providing the last four digits of your Social Security Number, you may instead provide your Colorado Account Number, which can be obtained by visiting Colorado Department of Revenue’s website and clicking on the “Request a Letter ID” link in the Additional Services section.