Many of us in Colorado Springs are passionate about making a real difference in our community. Integrating charitable giving into your financial plan is impactful and achievable, especially when you can support causes right here at home.
Let’s explore some unique charitable giving opportunities designed to align your philanthropic passions with your financial goals.
Why Colorado Giving Matters
Colorado isn’t just a place we call home; it’s a community where we look out for each other. Whether helping our children, supporting those facing homelessness, or preserving our beautiful landscapes, there are countless ways to make a real difference. What’s more, Colorado offers fantastic tax incentives that recognize your generosity.
Colorado-Specific Tax Benefits
Here are some options to help you make a more significant impact:
- 50% Tax Credit for Childcare Support: If you donate $100, you’ll get $50 back on your state taxes. That’s the power of this credit! By supporting organizations that provide childcare, including after-school programs and those helping foster kids, you're essentially halving the cost of your giving. (Please note that this credit is for donations, not tuition.)
- 25% Tax Credit for Homelessness-Focused Organizations: Colorado understands the importance of tackling homelessness. By supporting organizations dedicated to this cause, you can receive a 25% tax credit.
- Qualified Charitable Distributions (QCDs) for 70 ½ or Older: For those 70 ½+, QCDs offer a smart way to give. By directing your Required Minimum Distributions (RMDs) to qualifying Colorado charities, you reduce your taxable income and potentially benefit from state tax credits. It’s a win-win!
Our Commitment to Our Community
We consider ourselves neighbors and financial advisors — community involvement is a huge part of our company values. Our own Rich Carroll is actively involved in the community, serving on the board of Court Appointed Special Advocates (CASA), which we talk about below. This personal dedication reflects our firm’s deep commitment to making a tangible difference in the lives of those around us. Here’s more information about two organizations close to our hearts:
Palmer Land Conservancy: We believe in protecting our stunning natural landscapes, so we're proud to support the Palmer Land Conservancy.
CASA: Rich is personally involved in this organization, a fantastic cause that supports children in the foster care system.
Giving That Aligns with Your Values
Giving is a personal decision. It’s about supporting the causes you care about most. Whether passionate about kids, the environment, or helping those in need, we can help you create a giving strategy that fits your values and financial goals.
If you’re curious about maximizing your charitable giving and tax benefits, we’re here to help. Let's talk about how you can make a difference. Contact us today to schedule a friendly conversation.