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In 1986, the Colorado legislature created enterprise zones as a way to assist businesses and non-profit organizations located in economically depressed areas throughout the state. This legislation makes it possible for the Loveland Green House® Homes for Life Enrichment to offer its donors a 25% Colorado State income tax credit on cash contributions of $100 or more. You must file your State Income taxes electronically to get this tax credit. Over the years, this program has proven to be of great value to organizations in the Enterprise Zone and their supporters.

    Here's how it works:

    There may be a substantial tax benefit for donations made to the Loveland Green House Homes for Life Enrichment through the Enterprise Zone. The net after-tax benefit for a gift of $1,000 is $630. In this way a gift of $1,000 costs only $370 after taxes (see example below). Specific net after-tax benefit for the same gift will differ based on individual tax situations.

    The impact on income tax costs given the scenario of a contributor in the 33 percent federal tax bracket who gives a gift of $1,000:

    Charitable Donation Deductions

  • Colorado 5% $50
  • Federal 33% $330
  • Colorado State Enterprise Zone Tax Credit $250
  • Cost of donation after combined tax benefits $370
  • *This example is for illustrative purposes only. Please consult your tax advisor to relate this to your particular circumstances.

The Process

  • Donors make a contribution by check, $100 minimum
  • Donors please contact Tracie Thompson at Loveland Housing Authority 970-635-5922 or tthom@lovelandhousing.org to obtain proper instructions to process donations or to get more information
  • Check donors make checks payable to the Loveland Green House Homes for Life Enrichment, mail c/o Tracie Thompson, Loveland Housing Authority, 375 W. 37th Street Suite 200, Loveland CO 80537
  • The EZ program requires that donors provide social security number or Colorado Taxpayer Account Number. Donor (Businesses and Individuals) must also file Colorado Income tax electronically
  • Within 60 days, the Loveland Green House Homes for Life Enrichment sends the donor the appropriate paperwork for tax purposes

For more information on the Enterprise Zone, please contact a development officer at 303-297-1815.

Program Benefits

  • Decreases donor’s state tax liability through a 25% state tax credit for cash gifts and 12.5% for in-kind contributions such as stocks, services, and materials (there must be a state tax liability)
  • Provides the opportunity for donors to contribute more by decreasing the net “after tax” cost of their contribution

Increase the Tax Credit for In-Kind Contributions

Gift-In-Kind contributions of stocks, services, and materials are eligible for a tax credit of 12.5%. A detailed explanation of these conditions can also be found on the Colorado Department of Revenue website at www.colorado.gov/revenue/tax.

Donate Now!

Note: If you donate more than $100 and you want to claim your Colorado Enterprise Zone Tax Credit, please contact Tracie Thompson at the Loveland Housing Authority 970-635-5922 or tthom@lovelandhousing.org.

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