Understanding the Enterprise Zone Contribution Tax Credit Program
Colorado taxpayers can earn a state income tax credit worth 25% of your contribution by donating to nonprofit organizations that support targeted Enterprise Zone communities.
By contributing $25 or more to AYA Foundation, you not only support our entrepreneurs who are beginning their journeys toward generational wealth and self-sufficiency, but you also could receive significant tax benefits. AYA purposely set our minimum donation at $25 because we believe tax savings should be available to all donors at all levels of giving.
Donations of stocks and securities to Enterprise Zone projects are eligible for a 12.5% state income tax credit. For more information on transferring stocks or securities, please contact Benny Samuels, CEO, at (720) 853-3445.
How to Qualify for the Enterprise Zone Tax Credit:
To make an eligible donation:
- Be a Colorado resident.
- Contribute $25 or more to AYA Foundation.
- Specify your donation for the tax credit by checking the Tax Credit box on the donation form.
- Complete the form below with the required last four digits of your Social Security Number or Colorado Taxpayer ID number.
- Mailing a check payable to AYA Foundation to 1031 33rd St, Denver, CO 80205. Be sure to include “EZ Contribution” in the memo line along with either the last four digits of your Social Security Number or your Colorado Taxpayer ID Number.
- Contacting Benny Samuels, CEO, at (720) 853-3445.
AYA will send you an acknowledgment letter, and the City & County of Denver will send you the DR0075 form. You can then claim the tax credit when filing your state income taxes.
Examples of Enterprise Zone Tax Credit Eligible Donations:
| $25 Donation to AYA Foundation | |
|---|---|
| Colorado Enterprise Zone Tax Credit | $6.25 |
| Federal Income Tax Deduction | $4.13* |
| Total Estimated Tax Savings | $10.38 |
| Net Out of Pocket Expense | $14.62 |
| Net Benefit to Our Entrepreneurs | Immeasurable |
| $5,000 Donation to AYA Foundation | |
|---|---|
| Enterprise Zone Tax Credit | $1,250 |
| Federal Income Tax Deduction | $1,200* |
| Total Estimated Tax Savings | $2,450 |
| Net Out-of-Pocket Expense | $2,550 |
| Net Benefit to Our Entrepreneurs | Immeasurable |
These examples are for illustrative purposes only. Please consult your tax advisor.