Tax Benefits

The Denver Public Schools 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 adviser about the tax deductibility of your gift.

Colorado Child Care Contribution Credit

You deserve credit for your support of Denver Public Schools afterschool programs!

IMPORTANT UPDATE: On August 23, 2018, the IRS issued proposed regulations that could significantly impact the federal tax savings on your charitable contributions to the DPS Foundation that qualify for the Colorado Child Care Contribution Credit. If this proposed regulation is approved, for donations that are made after Monday, August 27, 2018, the federal deduction for state taxes would have to be reduced by the amount of any state tax credits. See additional information. As we learn more, we will update our donors.

Effective January 1, 2018, gifts of $250 or more restricted for afterschool programs may be eligible for a 50% Colorado state income tax credit.

Prior to January 1, 2018, gifts of $100 or more restricted for afterschool programs may be eligible for a 50% Colorado state income tax credit.

Guidelines for Donations:

  • Donors must designate, in writing, either on the check, pledge card or by letter, that the contribution is for afterschool programs in Denver Public Schools.
  • A minimum gift of $250 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.

Please consult with your tax adviser about the tax-deductibility of your specific gift. For more information, call (720) 423-3553.