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Colorado Child Care Contribution Credit

Supporters of Tennyson Center for Children who reside in Colorado and file Colorado state taxes may now qualify for a 50% state income tax credit in addition to the regular state and federal income tax deductions. The Colorado Child Care Contribution Credit (CCCC) promotes childcare activities statewide, and Colorado Department of Revenue approved contributions for our programs beginning in 2004.

Residential treatment programs at Tennyson Center qualify for the CCCC. For more information about our agency and our programs which qualify for the CCCC, please contact Bob Cooper at 720-855-3320 or you may also call toll-free at 1-877-224-8223.

The Tax Credit

Both corporate and individual donors may benefit.  Any taxpayer that makes a cash contribution to Tennyson Center may claim an income tax credit of 50% of the total contribution. Please click here for the most up-to-date information from the Colorado Department of Revenue.

Guidelines

• Donors may not receive any goods or services in return for their contribution.
• No in-kind or stock contributions qualify for the credit.
• Contributions may be made through December 31, 2019.
• The credit shall not exceed $100,000 per year.
• The credit allowed shall not exceed the tax liability for the year.  Any excess credits may be carried forward for up to five years.
• Donors should contact their tax advisors for advice about how the credit affects their tax picture.  Information in this brochure is not tax advice.
• Indicate “CCCC for Residential Treatment” in the memo line of your check. Your restriction must be indicated at the time you make your gift.

Our agency will provide donors with Form DR 1317, certifying the child care contribution.  This form must be attached to  a paper income tax return that claims the child care contribution credit, or supplied to the Department of Revenue upon request if the income tax return is filed electronically.

Understanding the Colorado Child Care Contribution Credit

Child Care Contribution Credit: A Tax Savings Example

Example: Gift of $5,000
(illustration 35% Federal tax bracket)*
*Situations vary; consult your tax advisor.

Colorado State Income Tax Savings : $232

Colorado Income Tax Credit: $2,500

Federal Income Tax Savings*: $794

Reduced Federal and Colorado Income Tax: $3,526

After-tax Cost of giving $5,000: $1,474

To make an online donation now and designate your gift to the Colorado Child Care Contribution Credit, click here.  Be sure and select "Child Care Contribution Credit" from the drop-down menu under "Designation."

NOTE: Because of the difficult economic times, certain conditions must be met each year to take advantage of the credit.  Please check with your tax advisor for the most current information.