Your contribution of $100 or more designated for after-school programs may be eligible for a 50% state income tax credit? Read more!

Tax information

The Denver Public Schools (DPS) Foundation is a 501(c)(3) nonprofit organization. Donations made to the DPS Foundation are tax-deductible to the full extent of the law. Please consult with your tax advisor about the tax deductibility of your gift.

Colorado Child Care Contribution Credit

You deserve credit for your support of Denver Public Schools after-school programs!

The Colorado Child Care Contribution Credit was designed to promote child care in Colorado. A Colorado state income tax credit of 50% of the total contribution may be available to individual donors and corporations who direct a monetary contribution to after-school programs through the DPS Foundation.

Due to a recent change in state law, the Colorado Child Care Contribution Tax Credit will be deferred (but not eliminated) for all gifts made in calendar year 2011. Donors who make gifts to the Denver Public Schools Foundation restricted for after-school programs during 2011 will not be able to claim the credit on their tax return until it is reinstated. The availability of the credit in calendar year 2012 will be announced by the Colorado Legislative Council at the end of December 2011. The credit will be available starting again in 2013 in a limited fashion: in calendar years 2013 and 2014, the amount of the credit that can be claimed will be 50% and 75% respectively. In 2015, the credit will return to its original form.

Click here to download a document with more detail, including illustrative examples of how the credit works and when it will be available.

Guidelines for Donations:

Donors must designate, in writing, either on the check, pledge card or by letter, that the contribution is for after-school programs in Denver Public Schools.
A minimum gift of $100 is required to qualify for the credit.
The Colorado Child Care Contribution Credit is limited to $100,000 annually, not to exceed the tax liability for the year. Any excess credits may be carried forward for up to five years.
In-kind and stock contributions do not qualify for this credit.
Contributions must be paid before December 31, 2019 to qualify for this credit under existing law.
All donors should consult a tax advisor regarding the calculation of the credit.
The Denver Public Schools Foundation will provide you with the necessary documentation for your tax records.

Learn more about the Colorado Childcare Contribution Tax Credit here.

Federal IRA Charitable Rollover

Supporters ages 70 ½ and older can donate up to $100,000 from their IRA to the Denver Public Schools Foundation without having to count the distributions as taxable income. Scheduled to expire December 31, 2011, these IRA gifts will count against mandatory distributions but must be transferred directly from the IRA custodian to the charity. The transfer is non-taxable for both federal and state purposes, and can also qualify for the Colorado Childcare Contribution Tax Credit if restricted toward after-school programs - a rare double benefit for contributors! If you are eligible, please consider an IRA Charitable Rollover to the DPS Foundation!* For further assistance or to schedule an IRA Charitable Rollover contribution, contact Alison Kolwaite at 720-423-3897 or akolwaite@dpsfoundation.org.