What is the Colorado Child Care Contribution Credit (5C)?

Taxpayers may make a qualified monetary contribution to promote child care in Colorado and claim a Colorado income tax credit for 50% of the total contribution. (ex: Give $1,000 and get $500 in tax credit)!  Open Door Ministries offers this tax credit to our giving partners because we operate a qualified and licensed CO child care facility!

What is 5C’s impact?

When you designate your gift to Open Door’s Learning Center you support working families by providing a quality education founded upon social & emotional intelligence and Christian character development to preschool and school-aged children. Visit our Learning Center page to learn more!

How do I qualify for the 5C?

All donations given to the Open Door Learning Center are eligible for the Colorado Child Care Contribution Credit. The state tax credit is equivalent to 50% of the contribution amount. Here are guidelines for giving a qualified 5C gift:

• Designate your gift to the Learning Center to qualify.

• The maximum credit you may take in any one year is $100,000 or your actual Colorado income tax liability for the year, whichever is less.

• Any unused credit may be carried forward for up to five additional tax years.

• Only monetary donations are eligible. Stock or other securities and in-kind gifts, such as labor or equipment, are not eligible but may qualify for other tax benefits. Donations through a Donor Advised Fund do not qualify.

• Both individuals and corporations can take advantage of the credit.

• We will automatically send a notice, along with the necessary paperwork, to donors who qualify.

Any 5C resources?

Please review the CO Dept. of Revenue Info Sheet for detailed information. If you have further questions regarding this tax credit, please contact Sheronda Williams at 720-975-0120 or sheronda@odmdenver.org.

Can I give now?

YES! Visit odmdenver.org/donate to make your qualifying gift and take advantage of this special tax credit while restoring lives today!

This material is for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.