Why support St. Mary’s Catholic Virtue Preschool
Did you know your gift to St. Mary’s Catholic Virtue Preschool can qualify for a 50% Colorado state income tax credit through the Colorado Child Care Contribution Tax Credit?
That means a donation of $1,000 may cost you as little as $300 after tax benefits—while directly supporting Catholic early childhood education.
How the Colorado Child Care Contribution Credit Works
The Colorado Child Care Contribution Tax Credit encourages support for early childhood programs by offering a 50% state tax credit for qualifying donations.
When you make a monetary donation to St. Mary’s Catholic Virtue Preschool:
You may claim a 50% credit on your Colorado state income taxes.
You may still be able to claim the full amount of your gift as a charitable deduction on your federal taxes (if you itemize).
Your gift goes directly to strengthening our preschool program and environment.
| St Mary's Donation | $5,000 | $25,000 | $50,000 |
|---|---|---|---|
| CO Child Care Contribution Tax Credit | $2,500 | $12,500 | $25,000 |
| Example Federal Income Tax Deduction | $800 | $4,000 | $8,000 |
| Example CO State Income Tax Deduction | $114 | $569 | $1,138 |
| After-Tax Cost to Donor | $1,586 | $7,931 | $15,862 |
These are sample calculations. Individual situations vary. St Mary's does not provide tax advice and all donors should always consult with their tax professional or accountant to confirm details.
A Fully Engaged Community
All cash donations to St. Mary’s Catholic Virtue Preschool may be eligible for the Colorado Child Care Contribution Tax Credit (CCCC), giving a generous 50% of the contributed amount back to the donor. Please contact your financial advisor for more information and learn more here.
FAQs
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It is a Colorado state tax credit that allows taxpayers to receive 50% of their qualifying monetary donations to approved child-care programs back as a credit on their Colorado income tax return.
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No, you don’t need to have a child in preschool to participate. Anyone who wants to donate is eligible to qualify for the Tax Credit.
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Yes. St. Mary’s Catholic Virtue Preschool is an eligible child-care program under the Colorado Child Care Contribution Tax Credit guidelines.
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Monetary contributions made directly to St. Mary’s Preschool (not tuition payments or fees) qualify for this tax credit.
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There is no official minimum donation to qualify for the credit. Larger gifts may be subject to limits based on your tax situation, but unused credits may often be carried forward. Please check with your tax professional for personal guidance.
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Yes. Both individuals and businesses that pay Colorado income tax may be eligible to claim the credit for qualifying gifts.
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In many cases, you can still deduct the full amount of your gift as a charitable contribution on your federal income taxes if you itemize, while also receiving the 50% state tax credit. Please consult your tax advisor.
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To claim the credit for the current tax year, your donation must be made by December 31.
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We’re happy to help you with the donation process and the DR 1317 form.
Why Support SMCVS?
Our school is more than just a school. We are focused on building a strong, Catholic foundation for your child to flourish and grow. Through our focus on the virtues, your child will gain an understanding of the world around them and the role they play in it.
