Enterprise Zone Tax Credit
Yampa Valley Medical Center Foundation has been designated by the State of Colorado as an Enterprise Zone which encourages economic growth in Routt County.
• A qualifying gift is defined as an outright gift (unrelated to a special event) of at least $250 to the Yampa Valley Medical Center Foundation that is designated to the Enterprise Zone program for the Yampa Valley Medical Center.
• A donor, having made a qualified contribution to YVMCF, may claim up to 25% of a cash donation as a Colorado income tax credit, and 12.5% for appreciated assets such as stocks and securities.
• As an organization, YVMCF can accept, in aggregate, up to $3 million annually in qualifying gifts that are eligible to receive a tax credit. Gifts that are received that exceed this limit cannot qualify for the credit. In the event that the Foundation does receive more that $3 million in qualifying gifts in a single year, the available tax credits will be granted to the donors in the order in which they were received.
• The amount of credit taken in one year cannot exceed the donor’s state tax liability. However, excess credit may be carried forward for up to five years.
• The maximum credit a donor can claim through this program per tax year is $100,000.
• Donations received from a Donor Advised Fund are not eligible for an Enterprise Zone Tax credit.
To submit a donation for the Enterprise Zone qualification, it will require the last 4 digits of your social security number or your EIN if you are a business. Please contact the YVMC Foundation directly to provide this information. Upon approval by the EZ program administrator, you will receive a certificate that you will need to submit with your Colorado income tax return to receive your credit.
