What is The Colorado Enterprise zone program?
A gift through the Enterprise Zone program is an opportunity to increase the value and impact of a gift to The GrowHaus!
The Colorado Enterprise Zone program is designed to promote and assist economically distressed areas by offering state income tax credits to non profits and their donors. This means when you give a donation of $250 or more to The GrowHaus, you can receive a 25% Colorado State Income Tax Credit, or a 12.5% tax credit on in-kind contributions of $500 or more.
The Effect of The Enterprise Zone
As an example, when you make a donation of $500 to The GrowHaus, a large part of your donation goes back to you in enterprize zone tax credits on top of standard deductions.
Enterprise Zone Credit: $125
Federal Tax Savings based on a 33% tax bracket: $116
Returned to You: $241
Net cost to you of a $500 gift: $259
- Donors make a contribution of at least $250.
- Donors must indicate Enterprise Zone on the memo line if donating by check, or in the "Reason" section if donating online.
- The Enterprise Zone program requires that donors provide us with one of the following: your Federal Employer Tax Identification Number (FEIN), your Colorado Taxpayer Identification Number, or the last four digits of your Social Security Number. If you indicate "Enterprize Zone" in your donation a member of The GrowHaus' staff will reach out for this information.
- After your donation, we will send you the paperwork you need for your taxes.
If you are interested in making a donation in the form of stocks or bonds, please reach out to Nathan Mackenzie at firstname.lastname@example.org.
For more detailed information please visit www.colorado.gov/revenue/tax.
This information should not be construed as tax advice. Please consult your tax advisor as situations may vary.