Why Your Gift to YWCA Boulder County is a Smart Financial Move
If you’re a Colorado taxpayer, donating to YWCA Boulder County is not just a way to support children and families, it’s also a smart financial decision. Thanks to the Colorado Child Care Contribution Tax Credit (5C), your generosity could unlock significant tax savings, making it a win for both you and the community.
Here’s how donating to YWCA Boulder County can be both a meaningful contribution and a financially savvy move.
What is the Colorado Child Care Contribution Tax Credit (5C)?
The 5C is a state program designed to enhance child care in Colorado by incentivizing donations to qualifying organizations like YWCA Boulder County. The best part? It’s a dollar-for-dollar tax credit that directly reduces the amount of taxes you owe, making it one of the most effective ways to support a great cause while lowering your tax liability.
How the 50% Credit Works
For every dollar you donate to YWCA Boulder County, the state gives you 50 cents back. That means if you donate $500, you’ll receive a $250 tax credit, directly reducing your Colorado state taxes owed. It’s a simple way to lower your tax bill while helping the community.
The Financial Benefits of Donating to YWCA Boulder County
1. Direct Tax Reduction
The 50% credit directly cuts your Colorado state tax bill.
2. Charitable Deductions
If you itemize you may also be able to claim your full donation on federal and state taxes, further reducing your taxable income.
3. Greater Impact for Less
Combining the state credit with potential federal deductions means you can make a larger impact on YWCA’s programs at a lower out-of-pocket cost.
Make the Most of Your Gift
When you donate $250 or more, we’ll automatically send you a completed DR1317 tax form to help you claim the 5C credit. Before giving, please consult your tax advisor to understand how the credit applies to your situation.
Your contribution to YWCA Boulder County supports essential programs for families and working parents and with the added 5C benefit, your gift can go even further for you and our community