Homeless contribution tax credit (HCTC)

Monetary gifts of $100 or more qualify for the Homeless Contribution Tax Credit (HCTC), a program that replaced the Enterprise Zone Tax Credit on Jan 1st, 2023. The HCTC equals 25% of the amount contributed for monetary gifts. In-kind and stock donations of $5,000.00 or more also qualify for a 25% state tax credit.

UPDATE AS OF 8/6/2024

  • Due to a recently passed legislative amendment, only the last 4 digits of donors’ Social Security Number (SSN), Individual Taxpayer Identification Number (ITIN) or Employer Identification Number (EIN) are required to qualify for the HCTC.

  • Gifts sent through the Colorado Gives Foundation or an independent retirement account (IRA) are now eligible for the HCTC.

  • Donor-Advised Fund gifts are not eligible for the HCTC.

The tax credit certificates themselves are sent via an encrypted email program.

For more information and/or questions, contact us at 303.974.2952 or email carter.beckvonpeccoz@urbanpeak.org.

HOW TO QUALIFY FOR THE HOMELESS CONTRIBUTION TAX CREDIT

The Homeless Contribution Tax Credit (HCTC) allows a reduction in state taxes owed by an amount equal to 25% of cash donations to Urban Peak of $100 or more.

1. DONATE TO URBAN PEAK

  • Monetary gifts: Donate $100 or more (a single gift or cumulative within the same calendar year).

  • In-kind/Stock gifts: Donate $5,000 or more.

  • Documentation: receipts are required as backup documentation for all gifts of $5,000 or more.

  • For in-kind and stock donations, include a third-party appraisal of the item’s value at the time of donation.

2. Submit your donation or have urban peak submit your donation

Urban Peak can submit your application on your behalf if you provide us with the last 4 digits of your SSN, ITIN or EIN. Call 303-974-2952 to share this info securely.

OR

You can use the CO Department of Local Affairs’ (DOLA) secure HCTC Salesforce Portal to personally submit your donation details to the state.

  • Required Information:

    • Nonprofit Name: Urban Peak Denver

    • Project Name: Urban Peak Homeless Services

    • Donor’s name, address and last 4 digits of SSN, ITIN or EIN.

3. Receive your tax credit certificate.

  • Within 2-4 weeks, you will receive a gift receipt from Urban Peak. This is separate from the tax certificate.

  • After your gift has been submitted in the HCTC portal (either by you or Urban Peak) and approved, you will receive an email from DOLA (subject line: DOLA HCTC Program) with an encrypted link to access your tax credit certificate. It can be downloaded or printed.

    • Important note: check your spam and junk folders if you cannot find the email in your inbox.

Make sure you file your taxes electronically with the Colorado Department of Revenue to claim the credit.

HCTC Exceptions

According to the Colorado Department of Local Affairs (DOLA)’s regulations, donations made through workplace giving programs facilitated by third-party organizations like Benevity, Schwab and other intermediary or “pass-through” organizations such as a Donor Advised Fund or Mile High United Way are not eligible for the tax credit. Gifts made directly by your employer or handled through a payment processor or donation software platform to Urban Peak on your behalf would still qualify.

For more information, please reference the State’s FAQ document and other resources listed below.

HCTC Resources

For your convenience, we’ve gathered several HCTC resources here that can help you learn more about the program and how it may apply to your donations.

Make Your HCTC Eligible Donation Today!

Any monetary gift of $100+ or an in-kind/stock donation of $5,000+ qualifies. Make your gift today to take advantage of this special tax credit while making a difference in your community.