Home » Tax Breaks for Gifts of $500 or More
Tax Breaks for Gifts of $500 or More
Denver Enterprise Zone Tax Credit
Available for a limited time, all unrestricted gifts to Goodwill’s Youth Career Development Program of $500 or more are eligible for the Denver Enterprise Zone (DEZ) Tax Credit. The DEZ Tax Credit is a 25% tax credit on your state income tax return for cash contributions.
Colorado’s Enterprise Zone program aims to promote and encourage projects that enhance job creation, job training and the overall economic development of depressed areas throughout the state. Your DEZ gift supports Goodwill’s Youth Program that provides essential job skills training to high schools students who live in Denver’s Enterprise Zone. Your donation helps at-risk students graduate with a career plan, learn entry-level job skills, gain on-the-job work experience, and develop the tools to obtain gainful employment.
How to claim your tax credit
When you make a donation of $500 or more, we will send you an acknowledgement with a Certification of Qualified Enterprise Zone Contribution form to file with your state tax return.
• Minimum donation of $500 to be eligible for 25% tax credit; Maximum credit allowed is $100,000 (i.e., $400,000 cash donation).
• In-kind donations, including gifts of stock, are eligible for 12.5% tax credit.
• Gifts must be unrestricted. We will allocate your donation towards Goodwill’s eligible programs located in Denver’s Enterprise Zone.
• As with any charitable contribution, please consult your tax advisor.
Sophia Conti, Manager, Major Gifts & Planned Giving