With the Colorado Child Care Contribution Credit, the net cost to a Summit 54 donor can be less than 6% of the total donation! So, in essence, we’re asking you to please consider allocating your tax dollars to at-risk kids in the Roaring Fork Valley.

Independent research demonstrated that the Summit 54 sponsored Summer Advantage program in the RFV advanced student performance 14 percent, moving 600 K-4th grade students from the 35% to the 49% in just five weeks! This is nearly DOUBLE the outcome of any other documented summer program in the country!

We would like to continue this highly successful program in partnership with the Roaring Fork School District. However, the federal grant that provided matching funds during the past five years is no longer available. Thus, if the program is to continue in the Roaring Fork Valley, Summit 54 needs to raise double the money of previous years. Summit 54 currently has $350,000 in pledges but we need to garner another $300,000 by December 1st in order to continue this critically important program next summer.

The cost of the program is only $52/day/student and serves 600+ low-income, at-risk students. Without Summer Advantage these students would be left at home all summer, watching television or playing video games, while their parents work. National statistics indicate that low income children forget 2-3 months more during the summer than their middle-income peers. Did you know that approximately HALF of all Roaring Fork School District students are low income, receiving free or reduced price lunch? These students are the future work force for our Valley. The saying “an ounce of prevention is worth a pound of cure” is especially true in early education, as it is far more economical to start children off with a strong educational foundation than to later provide remedial services.

SUMMIT 54 CONTRIBUTIONS QUALIFY FOR ADDITIONAL 50% COLORADO CHILD CARE CONTRIBUTION TAX CREDIT:

Summit 54 was able to obtain recognition by the State of Colorado for Summer Advantage as an “approved child care provider.” The Colorado Child Care Contribution Credit reduces the amount of state tax donors to Summit 54 pay, in addition to the normal federal and state charitable deductions associated with gifts to charity. (Maximum of $100,000 credit/year.) Here’s one example:

$10,000 gift to Summit 54 for Summer Advantage WITH Colorado Child Care Tax Credit:
Donation of $10,000
Federal Tax Benefit – $3,960 (The federal deduction varies based on income level. This example uses the 39.6% tax rate.)
State Tax Benefit – $463
Colorado Child Care Tax Credit – $5,000 (50% of donation amount)
NET COST TO DONOR $577

Compare to an alternative donation to another charity without the Colorado Child Care Tax Credit:
Donation of $10,000
Federal Tax Benefit – $3,960
State Tax Benefit – $463
COST TO DONOR $ 5,577

For additional details about the Colorado Child Care Contribution Credit, refer to the enclosed website from the Colorado Department of Revenue. Donors should also consult with their tax advisors regarding the use of this credit. https://www.colorado.gov/pacific/sites/default/files/Income35.pdf

Social Innovation Fund – SIF Pay for Success
Download SIF Pay for Success PDF

Donation checks can be mailed to:
Summit 54
1550 Larimer Street, Suite 770
Denver, CO 80202
or donations may be made online.
Summit 54 is a 501(c)3 organization, ID# 27-2978700

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