STRETCH YOUR CHARITABLE DOLLARS!
Make your gift to the U.S. Olympic Museum & Hall of Fame through the
EL PASO COUNTY ENTERPRISE ZONE
Thank you for considering a contribution to the U.S. Olympic Museum & Hall of Fame! The new world-class attraction will be in the heart of downtown Colorado Springs, driving hundreds of thousands of new visitors each year; a catalyst for the revitalization of downtown. As such, the Colorado Economic Development Commission has approved the U.S. Olympic Museum & Hall of Fame as an eligible Enterprise Zone Contribution Project.
The Colorado Urban and Rural Enterprise Zone Act allows a taxpayer, for income tax credit purposes, to make a monetary or in-kind contribution to the U.S. Olympic Museum & Hall of Fame. In addition, if the donation and recipient are eligible under federal tax rules, a federal charitable contribution deduction can be taken.
There are three classifications of contributions eligible for income tax credit:
1 Cash Contributions – eligible for a 25% cash credit ($250 minimum contribution)
2 In-Kind Contributions (non-cash items including stock donations, equipment, services and land) – eligible for 12.5% credit
3 In-Kind and Cash Blend – eligible for a 25% cash credit
$10,000 CASH GIFT
|Direct Gift||Enterprise Zone Gift|
|- Federal Tax Savings (35% tax bracket)||-$3,500||-$3,500|
|- Colorado Tax Savings at 4.63%||-$463||-$463|
|- Enterprise Zone Tax Credit||0||-$2,500|
|= Net Cost of $10,000 GIFT to Donor||$6,037||
• Receive a TAX CREDIT equal to 25% of your cash donation of $250 or more in addition to regular tax benefits for charitable gifts.
• It’s easy and requires no extra work for you — the U.S. Olympic Museum handles paperwork.
The U.S. Olympic Museum is classified as a public charity under section 501(c)(3) of the Internal Revenue Code. Your donation is tax deductible to the full extent allowed by law. Please check with you tax advisor to verify you are receiving the appropriate tax credit allowed. No credits are allowed for contributions that directly benefit the contributor and the maximum annual credit allowable to offset tax is $100,000.