About the Colorado Homeless Contribution Tax Credit
The Colorado Homeless Contribution Tax Credit provides a tax credit to Coloradans contributing to projects relating to homelessness in Colorado. In the case of Volunteers of America Colorado, taxpayers must contribute at least $250 annually, whether in a lump sum or over multiple donations, to receive credit.
These credits vary depending on designation. According to language provided by the state:
- Colorado donors can claim 25% of their donation (monetary or value of in-kind) as a state income tax credit if contributing to a qualified project located in a non-rural community. A non-rural community is typically designated as a county with a population under 50,000.
- Colorado donors can claim 30% of their donation (monetary or value of in-kind) as a state income tax credit if contributing to a qualified project located in a rural community.
Taxpayers may not directly benefit from the contribution. The total value of tax credits allowed per taxpayer per year may not exceed $100,000.
Sounds Great! How Should I Designate My Donation?
So glad you asked. Tell us you want the Homeless Contribution Tax Credit by writing HCTC or Homeless Contribution Tax Credit on the memo line of your check. If donating online, please tell us you're interested in receiving the credit by calling 970-259-1021.
What Else Do I Need to Do?
The state requires donors provide their full Social Security Number to take advantage of this program. Because your information's security is paramount, we ask that you provide this information over the phone by calling 970-259-1021.
Ready to Donate?
Great. Just click here.
Want a Bit More Information?
Absolutely. Head to the state's website for more details.