Enterprise Zone State Tax Credit

WHAT YOU NEED TO KNOW

• A qualifying gift is defined as an outright gift of at least $250 in one year to the Yampa Valley Community Foundation’s Operating Fund, designated for Economic Development Initiatives.
• Having made a qualified contribution to YVCF Operating, a donor who files Colorado state income taxes may be eligible for the following tax credits: 25% of a cash donation and 12.5% of an in-kind donation (stock).
• 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 through the Enterprise Zone Tax Credit Program per tax year is $100,000.
• A qualified charitable donation (QCD) of cash made from an IRA is considered eligible for the EZ credit.
• A donation received from a Donor Advised Fund is not considered eligible for a tax credit.
• In aggregate, YVCF can accept up to $750,000 annually in gifts that are eligible to receive a tax credit. In the event that the Foundation receives more than $750,000 in qualifying gifts in a single year, the available tax credits will be granted to donors in the order in which the gifts were received.
• Learn more about the Enterprise Zone Contribution Tax Credit Program here.

TO SUBMIT A DONATION FOR THE ENTERPRISE ZONE TAX CREDIT

• If writing a check, please include “for Economic Development Initiatives” on the Memo line.
• If making an online donation, please include “for Economic Development Initiatives” in the Note.
• For instructions to make a donation of stock, please send an email to karen@yvcf.org and carrie@yvcf.org
• Complete the section below or contact YVCF directly at info@yvcf.org or 970-879-8632 to supply the required information. Upon approval by the EZ administrator, you will receive a certificate that you will submit with your Colorado income tax return to receive the credit.