Enterprise Zone Tax Incentives
The state of Colorado allows you to take up to a 25% tax credit on your state income taxes when you make a monetary gift to one of Habitat for Humanity of the Roaring Fork Valley’s designated Enterprise Zone Contribution Projects. This allows a large part of your donation to come back to you in as a tax credit and charitable deduction, significantly reducing the after tax cost of your gift as illustrated below in the table.
“The State of Colorado allows a 25% tax credit on your state income tax return when you make a gift to one of Habitat for Humanity of the Roaring Fork Valley’s Certified Enterprise Zone Contribution Projects. This allows a large part of your donation to be returned to you in the form of a tax credit and charitable contribution deduction, significantly reducing the after tax cost of your gift as illustrated below.”
*Based on the 35% tax bracket; 37% would result in even greater tax benefits. This information should not be constructed as tax advice. Consult your tax advisor as situations may vary. Federal and Colorado state income tax savings are dependent on you itemizing and not taking the standard deduction.
What is Enterprise Zone?
Enterprise Zones exist to encourage private involvement and investment in economically distressed areas. Habitat for Humanity of the Roaring Fork Valley has three designate contribution projects:
Wapiti Commons
The Confluence
Modular Production & Advanced Manufacturing Training Facility
Cash contributions made via the Enterprise Zone and designated to Habitat for Humanity of the Roaring Fork Valley for the above projects are eligible. The minimum contribution is $250, and there is an annual maximum tax benefit of up to $100,000.
What kind of donations might qaulify?
Monetary contribution of $250 or more are eligible for a 25% credit on your Colorado state income tax return.
Stock gifts and in-kind contributions are eligible for a 12.5% tax credit.
Your donation can still be used as a charitable deduction on your federal return.
Tax credits can be beneficial even if you do not itemize.
Both individuals and corporate donors can benefit from this tax credit program.
Donor-advised funds are not eligible for the EZ tax credit.
Please consult your accountant or tax specialist regarding your unique tax situation.
Donate and receive an EZ tax credit today!
You can donate to Habitat for Humanity Roaring Fork Valley and receive the Enterprise Zone Tax Credit either online, via U.S. Mail or over the phone by the following instructions below:
By mail:
Please mail all donations to:
Habitat for Humanity RFV
53 Calaway Ct.,
Glenwood Spring, 81601
Make checks payable to “Habitat for Humanity Roaring Fork Valley”. In the memo of the check, write "EZ Contribution" and the project you are donating to: Wapiti Commons, The Confluence, or Modular Facility.
By phone:
Make a secure donation by calling us during business hours at (970) 309-8179.
Online:
Click on the button below to donate with a credit or debit card now.