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Most child care programs engage in some form of fund-raising to supplement basic funding from tuition, fees, or governmental subsidies. The cost of operating a child care program or preschool continues to escalate along with the general cost of living.
The Durango 4-C Council, Inc. is a registered non-profit 501(c)(3) organization that operates nine separate, licensed child care centers for the Tri-County Head Start/Early Head Start program. In addition to the federal Head Start grant, our agency must raise approximately half a million dollars annually in private grants, contracts for additional child care services, and donations.
If you are looking for a tax credit and file Colorado taxes, the 50% Child Care Contribution Credit may be just what you're looking for. The Colorado legislature approved the 50% tax credit to promote quality child care. Complete information is available at www.revenue.state.co.us/fyi/html/income35.html.
As a 501(c)(3) non-profit organization, your contribution to our agency may also qualify as a tax deductible contribution.
This tax credit program extends to January 2014. It is always advisable to consult your tax advisor prior to making decisions that will affect your taxes.
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