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Tax Benefits With Giving
Individuals and businesses can get a
25% Colorado Income Tax credit for donations of $500 or more to Interfaith
Hospitality Network of Colorado Springs.
In addition, donors can save up to an additional 39% on their
Federal Income Tax and 4.6% on their Colorado Income Tax. The Colorado
Springs Metro Area Enterprise Zone is designated to keep money circulating
within the area by giving tax incentives for investment in business and in
non-profit organizations with Approved Project Status. IHN of C.S. has
received Approved Project Status.
This benefit allows IHN supporters to choose between doubling
their intended donation at no cost to them, or giving an affordable amount with
tax savings to look forward to at the end of the year.
As an integral member of our community, you are part of the
solution. Individual donations account for the greatest portion of funding
for our program. Everyone who helps, makes a difference.
The Enterprise Zone
The Enterprise Zone
combines tax credits - actual tax deductions! - and tax deductions from state
and federal sources to reward your generosity. You don't need to itemize
your deductions to benefit! The result? You can choose between
doubling your intended donation at no cost, or giving an affordable amount with
tax savings to look forward to at the end of the year.
The benefit of near-double savings on your taxes is worth looking into!
A $300 gift to
Interfaith Hospitality Network of Colorado Springs through Enterprise Zone
provides...
$75 return to donor via
Enterprise Zone 25% State Tax Credit
$84 saved from Federal Tax
deduction (28%)
$14 saved from the State Tax
deduction
Total saving/return is $173.00
Here is how it's done:
Make your donation
payable to 'Enterprise Zone'.
Designate IHN of C.S. in the lower left hand corner of your
check.
Mail it to IHN and we will then send you a certificate of tax
credit that you can use when filing your Colorado Income Taxes.