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Summer Camp for kids ages 5-13 is now open! Details here!

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 INFO HERE

Colorado Child Care Contribution

Tax Credit

Colorado Gives Day presents an excellent time to contribute to Friends of Dinosaur Ridge, and Colorado’s Child Care Contribution Tax Credit makes your dollars go even further. Friends of Dinosaur Ridge Summer Camp program is a licensed Colorado child care provider and gifts to FODR that are dedicated to our summer camp, winter break camps, or spring break camps are eligible for the tax credit. Colorado taxpayers who make a monetary contribution to promote child care in Colorado may claim an income tax credit of 50% of the total contribution.

The Child Care Contribution Credit in Colorado allows a larger portion of your donation to come back to you in a tax credit and tax savings. This can significantly reduce the after-tax cost of your donation.

  • Both individuals and corporate donors can benefit from this tax credit program.
  • Your donation still qualifies as a charitable deduction on your Federal and state income tax returns. Plus, you can take advantage of the tax credits regardless of whether you itemize or not.
  • Donations designated for ‘Education’ with a note specifying “Summer Camps, Winter Break Camps, or Spring Break Camps” may be eligible for the CCCC tax credit.
  • In-kind donations are not eligible for this credit.

Colorado Child Care Tax Credit Examples

Contribution
Child Care Tax Credit
Federal Income Tax Savings
Colorado Income Tax Savings
Returned to you at tax time
After tax cost of giving
$500
($250)
($73)
($23)
$346
$154
$1,000
($500)
($145)
($46)
$691
$309
$10,000
($5,000)
($1,452)
($463)
$6,915
$3,085
Figures in the table are based on a 32% Federal tax bracket and take into account the Federal loss of state income tax deductions as a result of credits and deductions on the state income tax return.

For more information, contact Robin Morris at Friends of Dinosaur Ridge. For more information on taxes, visit the Colorado Department of Revenue website and review their “FYI Income 35” publication. Please consult your accountant or tax specialist regarding your unique tax situation.

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