Springs Rescue Mission:

Homeless Contribution Tax Credit

Smiling homeless man

SPRINGS RESCUE MISSION IS HCTC-READY – NOW EASIER THAN EVER

Monetary gifts of $250 or more to Springs Rescue Mission are eligible to receive a 25-percent Colorado state income tax credit. The process for making Homeless Contribution Income Tax Credit (HCTC) donations is easier this year, as the state allows Springs Rescue Mission to issue certifications directly. It is important to note that taxes must be filed electronically to receive this tax credit.

We now offer four ways to make an HCTC donation: check, credit card, Good Samaritan Sponsor (GSS), and stock. Upon approval, you’ll receive an HCTC certificate to use during tax season to claim your 25-percent Colorado state income tax credit. For HCTC-qualifying donations of over $5,000, the State of Colorado requires documentation in the form of receipts or your year-end SRM tax statement (which you should receive in January) to be uploaded through its online portal.

HERE’S HOW IT WORKS:

Making a One-Time HCTC Gift by Check
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Write a check of $250 or more payable to Springs Rescue Mission and include “HCTC” or “Homeless Contribution Tax Credit” in the memo line, as well as the last four digits of your Social Security number. For businesses, include the full Employer Identification Number.

‍Making an HCTC-qualifying Gift by Credit Card

Many gifts made by credit card qualify for HCTC! However, as credit card transaction fees associated with the donation are not eligible for the tax credit, only donations over $259 are eligible. Make a credit card donation of $259 or more online.

‍Receive Tax Credits as a Good Samaritan Sponsor

Sign up to become a monthly Good Samaritan Sponsor and donate $250 or more in total donations for the current tax year.

  • Because the minimum commitment as a GSS is $25 a month — which sponsors one bed for one night a month — donors must give for 10 consecutive months to reach the $250 threshold for HCTC qualification.
  • Donors must also express intent to receive the Homeless Contribution Tax Credit and provide Springs Rescue Mission with the last four digits of their Social Security number.

‍Making an HCTC-qualifying Gift of Stock

A stock donation over $5,000 is eligible for Colorado’s Homeless Contribution Income Tax Credit. To qualify for the tax credit, stock must be donated directly to Springs Rescue Mission and not through a pass-through entity.

To discuss such a gift, email us at julied@springsrescuemission.org or call us at 719-314-2370.

‍NEW: How to Receive a Tax Certificate (Updated August 2024)

Last year, the State of Colorado required donors to upload documentation of all HCTC-qualifying gifts to its online portal and provide full Social Security numbers in order to receive a state-issued HCTC certificate for tax time.

Many donors were frustrated by this process and expressed concern about having to include their full social security number. The State of Colorado heard your concerns and has now made it EASIER and SAFER.

NOW, If your HCTC-qualifying monetary gift is $250 to $4,999, or if your stock gift exceeds $5,000, all you have to do is follow the steps above and Springs Rescue Mission will issue all the documentation you’ll need to claim your 25-percent state income tax credit on this year’s taxes!

‍Ineligible Contributions for HCTC

The following types of contributions do not qualify for the Homeless Contribution Income Tax Credit (HCTC):

‍More Information

If you have any questions regarding Springs Rescue Mission’s HCTC process, please contact us at (719) 632-1822 or visit the link below.

State of Colorado’s Homeless Contribution Tax Credit Website

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