With the Colorado Child Care Contribution Credit, the net cost to a Summit 54 donor can be less than 6% of the total donation!   (details below)

In 2017, Summer Advantage scholars gained 1-2 months in reading and 3-4 months during the five-week free academic and life enrichment program.  

 

Donations

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Personal Info

Donation Total: $100.00

 

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 allows donors to deduct 50% of the total donation from their Colorado tax liability, in addition to the normal federal and state charitable deductions associated with gifts to charity.

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 (varies on tax rate -39.6% here)

State Tax Benefit   –$463 (same for everyone)

Colorado Child Care Tax Credit–$5,000 (50% of donation amount)

NET COST TO DONOR      $577

Compare to a donation to another charity without the Colorado Child Care Tax Credit:

Donation of$10,000

Federal Tax Benefit–$3,960 (39.6% tax rate)

State Tax Benefit   –$463 (same for everyone)

COST TO DONOR  $5,577

For additional information 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

Donation checks can also be mailed to:
Summit 54
1550 Larimer Street, Suite 770
Denver, CO 80202

Summit 54 is a 501(c)3 organization, ID# 27-2978700

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