Enterprise Zone Benefits
The Pulliam Community Building Foundation is a 501(c)3 tax-exempt organization, and the Pulliam project is in a Larimer County Enterprise Zone. These two tax benefits reduce your out-of-pocket gift.
Illustration of Potential Tax Benefits and Gift Impact
| City Match of $10,000 Gift of $10,000 | $25,000 $25,000 | $100,000 $100,000 |
|
| Federal tax savings from deduction | 3,700 | 9,250 | 37,000 |
| Colorado tax savings from deduction | 463 | 1,158 | 4,630 |
| Colorado Enterprise Zone tax credit | 2,500 | 6,250 | 25,000 |
| Total tax savings | $6,663 | $16,658 | $66,630 |
| After-tax cost of gift | $3,337 | $8,342 | $33,400 |
| Total Project Benefit Consult your tax advisor. | $20,000 | $50,000 | $200,000 |
Assumes donor is in the top 37% federal income tax bracket, itemizes his or her deductions, and is subject to the Colorado 4.63% state income tax. Even lower bracket taxpayers can benefit.
Remember: because of the significant potential tax benefits, a $100,000 gift may only cost $33,400 and it controls $200,000 in the project budget! That is a pledge of $20,000 per year over the next five years.
