What is the Homeless Contribution Tax Credit (HCTC)?

As of January 1st, 2023, the Enterprise Zone (EZ) tax credit has been replaced with Colorado’s Homeless Contribution Tax Credit (HCTC). The new HCTC is now available in the entire state of Colorado to support a broader range of homelessness-response services. HCTC gifts qualify for a 25% state income tax credit (ex: Give $1,000 and get $250 in tax credit)! Open Door Ministries now offers this new tax credit to giving partners as a CO state-approved agency!

What is HCTC’s impact?

Unlike the EZ, more Open Door programs qualify under the new HCTC! Now, your HCTC gift to Open Door supports more resources for homeless individuals and families who are taking their next step toward self-sufficiency! The following programs are eligible under the new HCTC:

How do I qualify for Homeless Contribution Tax Credit?

1. Give a one-time monetary gift of $1,000+ or a one-time in-kind gift of $5,000+ to Open Door Ministries. To give by check, make your gift payable to “Open Door Ministries” or to any specific program listed above if desired, and specify “HCTC” on the check memo line. To give online, visit odmdenver.org/donate, select “Homeless Tax Credit” as designation. If desired, specify any program listed above in the comments section.

2. Call us at 720-975-0120 to provide your information (SSN or FEIN). The State of Colorado no longer requires your FULL Social Security Number (SSN) but just the last four digits of your SSN to qualify for the HCTC program. This information is used to verify identity and is encrypted and stored in a secure database.

3. Receive your gift receipt and tax credit certificate. HCTC certificates could take several weeks to process due to current processing guidelines set by the State. We appreciate your patience as we work with the State to process your documentation.

Any HCTC resources?

Please visit cdola.colorado.gov/hctc for detailed information. If you have further questions regarding the new tax credit, contact Sheronda Williams:

720-975-0120 | sheronda@odmdenver.org

Can I give now?

YES! Visit odmdenver.org/donate to make your qualifying gift and take advantage of this special tax credit while restoring lives today!

This material is for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.