Bridge House Ready to Work | TANK 2024
A nonprofit fundraiser supporting
Bridge HouseThe SMDC presents a heartwarming and insightful opportunity to spotlight nonprofit Chamber members.
$6,075
raised by 32 people
$10,000 goal
By meeting adults experiencing homelessness where they are, Ready to Work is sustainably changing lives with a continuum of programming from low-barrier basic needs to Colorado's only work-first approach to homelessness offering paid employment, housing, and support services.
Three of four adults entering the Ready to Work program graduate with full-time employment and independent permanent housing. Twelve months later more than 80 percent of graduates are still housed and employed, breaking the costly and persistent cycle of homelessness and incarceration.
Monetary Gifts to Ready to Work May Qualify for the
Colorado Homeless Contribution Tax Credit (HCTC)
Taxpayers who make a monetary contribution to support local nonprofits that are providing valuable services to those experiencing homelessness may claim an income tax credit of 25% of the total donation. Ready to Work qualifies under this requirement.
This is a Colorado tax credit, which is in addition to any regular deduction you might be eligible for on your federal or state taxes. This means that 25% of any donations that you make to Bridge House between $250-$100,000 ($5,000 or more in kind) are eligible to be credited. The more you donate, the bigger your tax break. Please be sure to consult your tax advisor for your own savings.
| Donation | $250 | $500 | $1,000 | $10,000 | $50,000 | $100,000 |
HCTC (25%)
|
$62.50 |
$125 |
$250 |
$2,500 |
$12,500 |
$25,000 |
Fed Tax Savings at 32% |
$20 |
$40 |
$80 |
$800 |
$4,000 |
$8,000 |
CO State Tax Savings at 4.4% |
$2.75 |
$5.50 |
$11 |
$110 |
$550 |
$1,100 |
Out of Pocket Cost |
$164.75 |
$329.50 |
$659 |
$6,590 |
$32,950 |
$65,900 |
*this example assumes itemized deductions
**please consult your tax preparer for advice regarding your personal situation