Aims Foundation
Enterprise Zone
Giving is even Easier
Cash contributions to the Aims capital improvements on the Greeley and Fort Lupton campuses are eligible for an enterprise zone tax credit of 25 percent.
This credit is in addition to any state and federal tax deductions you may receive. Depending on your individual tax bracket, the actual cost of your gift may be considerably less than you imagine. Per the following example, if you fall within the 28-percent tax bracket, the cost of your $10,000 gift may be as little as $4,200.
Example:
| Amount of Donation to Aims Capital Campaign building project |
$10,000 |
|
|---|---|---|
| 25% Enterprise Zone tax credit | $(2,500) |
|
| 5% net state tax deduction | (500) |
|
| 28% federal tax deduction | (2,800) |
|
| Total net Credit to donor | 5,800 |
|
| Total net Cost of contribution | 4,200 |
|
The Aims Foundation is happy to help you ensure your contribution
is eligible for the enterprise zone tax credit.
Call us today at (970) 339-6583 or e-mail Julie.buderus@aims.edu
Frequently asked questions about the enterprise zone tax credit through Aims Community College
Q: You mention that cash gifts qualify for the 25% tax credit. What about gifts of stock?
A: Gifts of stock are considered an in-kind contribution and the available tax credit is equal to 12.5% of the market value at the time of the contribution.
Q: Is there a limit on the allowable annual tax credit?
A: Yes. There is a $100,000 annual credit limit. However, any excess credit may be carried forward for a period of up to five years.
Q: Where can I receive additional information concerning
the forms and this opportunity?
A: Commonly used forms and additional tax information are
available on the Web at www.taxcolorado.com
The Aims Community College and the Aims Foundation do not advise on any personal income tax requirements or issues. Use of any information is for general information only and does not represent personal tax advice either expressed or implied. You are encouraged to seek professional tax advice for personal income tax questions and assistance.
