Colorado Child Care Tax Credit

Taxpayers who make a monetary contribution to promote child care in Colorado may claim an income tax credit of 50% of the total contribution.

Both corporate and individual donors may benefit. Taxpayers who make a cash contribution to the YMCA of Northern Colorado’s Community Support Campaign may claim an income tax credit of 50% of the total donation on their Colorado income tax return. Please check with your accountant; you may need to itemize to take advantage of this tax benefit.

EXAMPLE

Donation Amount: $1,000
Federal Tax Savings at *30%: -$150
Colorado Tax Savings at *5%: -$23
Colorado Child Care Tax Credit: -$500
Total Donor Out of Pocket: $327

*Recognized at 1/2 for Colorado Contribution Tax Credit consideration.

Guidelines

In-kind contributions of property (non-monetary donations) do not qualify for the credit.
Donors may not receive any goods or services in return for their contribution.
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.
The Y will provide you with the DR 1317 Child Care Contribution Credit Certification in January of the following year.
Donors should contact their tax advisors for advice about how the credit affects their tax picture. Information provided
here is not tax advice.

Our Ys are open with temporarily reduced hours to members and program participants. Guests are now welcome. Please check our reopening guide for policies before you arrive.

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