COLORADO CHILD CARE CONTRIBUTION
TAX CREDIT

Maximize Your Gift With the Colorado Child Care Contribution Tax Credit

Taxpayers who make a monetary contribution to promote child care in Colorado may claim an income tax credit of 50% of the total donation. You do not need to have children in child care to benefit from this contribution tax credit.

Both corporate and individual donors may benefit. Taxpayers who make a cash contribution to the YMCA of Northern Colorado may claim an income tax credit of 50% of the total donation on their Colorado income tax return. Please check with your accountant; you may need to itemize to take advantage of this tax benefit.

Colorado Child Care Contribution Tax Credit Guidelines

• In-kind contributions of property (non-monetary donations) do not qualify for the credit.
• Donors may not receive any goods or services in return for their contribution.
  
• The credit shall not exceed $100,000 per year.
  
• The credit allowed shall not exceed the tax liability for the year. Any excess credits may be carried forward for up to five years.
  
• The Y will provide you with the DR 1317 Child Care Contribution Credit Certification in January of the following year.
  
• Donors should contact their tax advisors for advice about how the credit affects their tax picture. Information provided here is not tax advice.
• Individuals who donate funds out of their QCD's (Qualified Charitable Distributions) will receive credit without federal consequences.