Be the catalyst! We rely on generous donors to support to help us inspire math and science and foster a culture of inquiry. You make these opportunities happen year after year. Thank you for your support!
All gifts to Eureka! are tax-deductible to the fullest extent possible! Not only may donors deduct their gifts on both federal and state returns, they also may be able to claim the additional Enterprise Zone tax credit on their State of Colorado return. This means that, depending upon a donor’s tax bracket and itemizations, a donation may cost the donor less than the amount of the contribution.
Cash donations of $50 or more may be eligible for a 25% tax credit on donor’s Colorado State Income Tax Return. In-kind gifts valued at $100 or above may be eligible for a 12.5% tax credit on donor’s Colorado State Tax Return. In-kind donations of $2,000 or more must be accompanied by valuation documentation.
Cash Donation $1,000
Income tax benefit of gift
Federal tax rate – 28% – $280 (reduces taxable income)
Colorado tax Rate – 4.63% – $46.30 (reduces taxable income)
Colorado Enterprise Zone Tax Credit – 25% – $250 (toward the CO State Tax Liability)
For a $1,000 donation the Total Tax Savings – 57.63% = $576.30
We are not tax experts; it is unethical and illegal for our staff to offer professional tax advice. Although the information contained here is presented in good faith and believed to be correct, it is general in nature and is not intended as tax advice. For more information on tax advice, please see your accountant or tax adviser.