The Colorado Child Care Contribution Credit
Did you know gifts to the Colorado State University Early Childhood Center may be eligible for the Colorado Child Care Contribution Credit?
The CCCCC was established to promote greater donations for Colorado childcare programs in order to increase the quality and availability of these programs throughout the state. Colorado taxpayers who make cash gifts to the Early Childhood Center may be able to receive a 50 percent tax credit on state income taxes when the donation promotes a childcare program. For details, please consult your tax adviser.
For additional information, visit the Child Care Contribution Credit page on the Colorado Department of Revenue website. To give a gift to the Early Childhood Center, visit the online giving page.
GUIDELINES
- No in-kind or stock contributions qualify for the credit.
- The donor must designate in writing, either on the check or via e-mail to Kelsey Burket (kelsey.burket@colostate.edu), that the gift is for the CCCCC.
- Donors may not receive any goods or services in return for their contribution.
- CSU requires a minimum gift of $100 to receive the CCCCC.
- The credit allowed 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.
- Under the 2023 bill, the Childcare Contribution Tax Credit is extended through 2026.
| Contribution | $250 | $1,250 | $2,500 | $5,000 | $25,000 |
|---|---|---|---|---|---|
| Colorado Child Care Contribution Credit | ($125) | ($625) | ($1,250) | ($2,500) | ($12,500) |
| Colorado Tax Savings | ($12) | ($58) | ($116) | ($232) | ($1,158) |
| Federal Tax Savings | ($83) | ($413) | ($825) | ($1,650) | ($8,250) |
| After tax cost of giving | $31 | $155 | $309 | $619 | $3,093 |