Individual Development Accounts (IDAs) are special savings accounts that Coburn Place women establish to save money for higher education, employment training, home purchase or start-up/expansion of a small business. This money is matched 3 to 1 by contributions from people like you.
IDA tax credits are your added benefit to this great opportunity. Your contribution of $100-$25,000 is eligible for a credit of 50% of the donation amount toward your Indiana State tax liability. Plus, your gift is still eligible for any federal deductions that may apply.
For example*:
| Your gift to Coburn Place |
$1,000.00 |
| - Indiana NAP tax credit |
$500.00 |
| - Federal deduction |
$330.00 |
| YOUR FINAL OUT-OF-POCKET COST |
$170.00 |
|
*The example is based on 33% tax rate and is for illustration only. Donors should consult their tax advisors to determine the actual benefit they will receive.
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With our allotment of tax credits dwindling, now is the time to act. IDA tax credits are a great way to S-T-R-E-T-C-H your charitable giving dollars and help a Coburn Place woman help herself!
To Receive Credits
To receive IDA tax credits you need only send your gift to us then complete and return a simple form.
For questions, please contact Lianne Somerville or Mary Jane Sorbera. Or call us at 317-923-5750; we are happy to help!
