Cherry Hills Christian is focused on next generation Kingdom investment. Partner with us to help GROW the next generation
Annual Fund Campaign - Goal $260,000
| Colorado Child Care Tax Credit Benefit |
(50% Tax Credit on your gift + Federal & State Deductions)
GROW is our fundraising campaign that helps us bridge the gap between tuition and the actual cost to educate each student. By design, tuition dollars do not cover the full cost of educating each student at Cherry Hills Christian. Because contributions are tax deductible and tuition is not, we purposely set tuition below the actual cost per student. Historically, 7% of the total cost of education at CHC has been provided through fundraising.
Cherry Hills Christian is aggressive and intentional about next generation Kingdom investment. Will you partner with us to help GROW the next generation?
Understanding the Colorado Child Care Contribution Credit
Because of a tax credit law in our state and the fact that we have a Preschool at CHC, you can leverage your gift if you earn income and pay taxes in Colorado.
Tax Savings Example for a Gift of $1,000
|Federal Tax Bracket||28%||33%||35%|
|Colorado Child Care Contribution Credit||($500)||($500)||($500)|
|Colorado Tax Charitable Deduction||($46.30)||($46.30)||($46.30)|
|Federal Tax Charitable Deduction||($280)||($330)||($350)|
|Future Federal Tax Effect on Credit||$152.96||$180.28||$191.21|
|After Tax Cost of Gift to CHC||$326.66||$303.98||$294.91|
|Total Tax Savings||$673.34||$696.02||$705.10|
Situations Vary. Please consult your tax advisor.
- Donors may not receive any goods or services in return for their contribution.
- No in-kind or stock contributions qualify for the credit.
- Contributions may be made through December 31, 2019.
- 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.
- Donors should contact their tax advisors for advice about how the credit affects their tax picture. Information provided is not tax advice.
- Gifts to Cherry Hills Christian need to be undesignated to qualify for Colorado Child Care Credit; note CCCCC.