Enterprise Zone Benefits
The Pulliam Community Building Foundation is a 501(c)3 tax-exempt organization, and the Pulliam project is in a Larimer County Enterprise Zone. These two tax benefits reduce your out-of-pocket gift.
Illustration of Potential Tax Benefits and Gift Impact
|City Match of $10,000|
Gift of $10,000
|Federal tax savings from deduction||3,700||9,250||37,000|
|Colorado tax savings from deduction||463||1,158||4,630|
|Colorado Enterprise Zone tax credit||2,500||6,250||25,000|
|Total tax savings||$6,663||$16,658||$66,630|
|After-tax cost of gift||$3,337||$8,342||$33,400|
|Total Project Benefit|
Consult your tax advisor.
Assumes donor is in the top 37% federal income tax bracket, itemizes his or her deductions, and is subject to the Colorado 4.63% state income tax. Even lower bracket taxpayers can benefit.
Remember: because of the significant potential tax benefits, a $100,000 gift may only cost $33,400 and it controls $200,000 in the project budget! That is a pledge of $20,000 per year over the next five years.