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Inspire, Enable, Propel

Ways to Give

 

AGI Mission Simulation LabDonate Securely Online

For fast, secure one-time or recurring donations, we truly appreciate your online donations.

Contact us today

[email protected]
+1.719.576.8000
+1.800.691.4000

Space Foundation

4425 Arrowswest Drive

Colorado Springs, CO 80907
 
 CFC LogoColorado Gives Day
 

Enterprise Zone Tax Credits for Colorado State Income Tax

The Space Foundation is an El Paso County (Colo.) Enterprise Zone project, which means your gift can provide you with state tax credits if you are a resident of Colorado.

Cash donations of $250 - $100,000 are eligible for a 25 percent Colorado state tax credit

In-kind (tangible items including stocks) donations up to $50,000 are eligible for a 12.5 percent Colorado state tax credit.

Because of legislative changes to the Colorado Enterprise Zone (EZ) tax program which became effective in 2012, the Space Foundation is required to have either your Social Security Number or your Colorado Taxpayer Account Number in order to ensure your contribution receives EZ tax credit. If the Foundation does not have a record of one of these numbers for your account when your contribution is submitted to the EZ program administrator for processing, it will result in the tax credit being denied.  Please contact Kelly Shelton, 719-576-8000 to confirm that we have your information.

How it Works

  25% Credit
  $10,000 Contribution $1,000 Contribution
Federal tax savings at 35%, net of state tax effect $2,625 $263
State tax savings at 4.63% $463 $46
State tax credit $2,500 $250
Total tax savings $5,588 $559
Total net cost of contribution $4,412 $441

 

The schedule above illustrates the incremental net cost of a contribution assuming a 35% federal tax rate and a 4.63% state tax rate using a 25% credit. Each contributor's tax rate will be dictated by their own tax situation. Tax credits are available to both corporations and individuals.

 

How to Do It

To take advantage of an Enterprise Zone tax credit, make your donation check out to"Enterprise Zone Administrator," noting "Space Foundation" on the memo line. Mail your donation check to:

Development 
- Space Foundation

4425 Arrowswest Drive

Colorado Springs, CO 80907

If giving online, please note that your online gift is eligible for Enterprise Zone credit.  The donation will then be processed by the Space Foundation and a tax certificate will be mailed to you from the El Paso County Enterprise Zone Administrator.

For information on making any type of donation or for more information about Enterprise Zone tax credits, contact the Space Foundation Development Office via email at [email protected] or call +1.719.576.8000 or +1.800.691.4000 and ask for Kelly Shelton, Philanthropy Coordinator.

For more information, visit www.colorado.gov/revenue/tax.

Top image credit: Gift Image from asenat29 and money image from jollyuk via flickr
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