Donate to Mountain Shadows at http://bit.ly/givemsms
Fundraising at Mountain Shadows
Similar to many independent schools, Mountain Shadows’ tuition does not cover the entire cost of educating a child. As a result, we depend on annual fundraisings such as the Annual Fund and Colorado Gives Day to support the successful implementation of our mission. Proceeds raised support our general operating fund, facilities, educational programs, tuition assistance, and staff professional development.
The Colorado Childcare Contribution Tax Credit: More Than Half of Your Donation Could Come Back to You
The Colorado Child Care Contribution Tax Credit was established to encourage greater private support of Colorado child care programs, like those provided by Mountain Shadows. Colorado residents who make a monetary contribution to promote child care in Colorado may claim a state income tax credit of 50 percent of the total contribution, significantly decreasing the after-tax cost of the donation.
| Tax Savings Example for a Gift of $1,000 Illustration - 28% tax bracket. Situations vary by individual. Please consult with your tax advisor. | Child Care Contribution Tax Credit 50% Tax Credit |
|---|---|
| $1,000 Donation | $1,000 |
| Colorado Child Care Contribution Credit | $500 |
| Net Federal and State Tax Savings | $173 |
| Total Tax Savings | $673 |
| After-Tax Cost of Giving $1,000 | $327 |
Guidelines:
- Donors may not receive any goods or services in return for their contribution.
- In-kind or stock contributions do not qualify for the credit.
- Contributions may be made through December 31
- 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.
For more information about the tax credit, see the information sheet issued by the Colorado Department of Revenue:
http://www.colorado.gov/pacific/sites/default/files/Income35.pdf