About the Colorado Childcare Contribution Credit
How can I make a qualifying gift to the Center for Musical Arts?
Gifts specified for Youth Programs are eligible for 100% of this credit.
- Donate ($250+) to “Crescendo”, annual fall fundraising event
- Donate ($250+) online, and add “Youth Programs” to the comment box
- Send a check to with “Youth Programs” in the memo field ($250+)
How can I make a qualifying gift to general operations of Colorado Music Festival & Center for Musical Arts?
Gifts specified for General Operations are eligible for up to 50% of this credit.
- Donations of $1,000+ to General Operations
- 50% of the total gift will receive the credit
- This percentage is subject to change depending on the number of youth served in our programs each year and amount of expenses direclty associated with youth programming.
How do I file for this credit?
You will receive form DR 1317 Child Care Contribution Credit Certification along with a donation acknowledgement letter from the CMF&CMA. This form should be submitted along with your regular tax filing.
What type of gifts are eligible?
- Gifts deemed qualifying for the organization (listed above)
- Cash, check, credit card
- Individuals who donate funds out of their QCD’s (Qualified Charitable Distributions) will receive credit without federal consequences.
What type of gifts are ineligible?
- In-kind contributions of property (non-monetary donations) do not qualify for the credit.
- Gifts of stock or other securities
- Donor Advised Funds
General Guidelines
- Donors may not receive any goods or services in return for their contribution
- Donors may not receive CMF sponsorship recognition for the qualifiable portion of their contribution. CMA sponsorship recognition will be limited to Youth Programs only
- The credit shall not exceed $100,000 per year
- The credit allowed shall not exceed the tax liability for the year. Any excess credits may be carried forward for up to five years
Potential Benefits
| Donation Amount | $10,000 | $50,000 | $100,000 |
| CO Contribution Credit | $5,000 | $25,000 | $50,000 |
| Fed tax savings at 32% | $1,600 | $8,000 | $16,000 |
| CO state tax savings at 4.4% | $220 | $1,100 | $2,200 |
| Out of Pocket Cost | $3,180 | $15,900 | $31,800 |
This example assumes itemized deductions. Please consult your tax advisor regarding how this applies to your personal situation.
Gifts Through Qualified Charitable Distributions (QCDs)
| Donation Amount | $10,000 | $50,000 | $100,000 |
| CO Contribution Credit | $3,700 | $18,500 | $37,000 |
| Fed tax savings at 32% | $440 | $2,200 | $4,400 |
| CO state tax savings at 4.4% | $5,000 | $25,000 | $50,000 |
| Out of Pocket Cost | $860 | $4,300 | $8,600 |
Itemizing is not required to realize the full tax benefit when giving through QCDs. Please consult your tax advisor regarding how this applies to your personal situation.
Information provided here is for informational purposes only and is not intended to be relied upon as tax, legal or accounting advice. Please consult your tax advisor to determine the impact on your individual situation before making a gift.