The Colorado Enterprise Zone Tax Credit

A 25% state income tax credit on donations of $250 or more

What is The Colorado Enterprise Zone?

The Enterprise Zone (EZ) Program benefits businesses working in economically distressed areas of the state, considered Enterprise Zones. Designated enterprise zones, including The GrowHaus’ home communities of Globeville, Elyria, and Swansea, have high unemployment rates, low per capita income, or slow population growth.

Why is The GrowHaus an Enterprise Zone Project?

The GrowHaus’ work to hire and provide professional development opportunities for individuals in Globeville, Elyria, and Swansea makes the organization eligible to be a participating project in the Colorado Enterprise Zone. After going through a robust application process and submitting letters of support from government and elected officials, The GrowHaus’ operations were designated as an Enterprise Zone project.

What does the Colorado Enterprise Zone mean for me?

Individuals giving $250 or more to The GrowHaus annually can receive the Colorado Enterprise Zone tax credit, a 25% state income tax credit. At the beginning of the new year, someone from our team will reach out to you requesting you, requesting your Federal Employer Tax Identification Number (FEIN), your Colorado Taxpayer Identification Number, or the last four digits of your Social Security Number. This information will allow us to generate a DR-75 form, which you’ll need to claim your tax credit

As an example, when you make a donation of $500 to The GrowHaus, a large part of your donation goes back to you in enterprise zone tax credits on top of standard deductions. 

Contribution: $500

Enterprise Zone Credit: $125

Net cost to you of a $500 gift: $375*

This does not include any potential federal tax savings

The Process:

  • Donors make a contribution of at least $250.

  • Donors must indicate Enterprise Zone on the memo line if donating by check, or in the "Reason" section if donating online.

  • The Enterprise Zone program requires that donors provide us with one of the following: your Federal Employer Tax Identification Number (FEIN), your Colorado Taxpayer Identification Number, or the last four digits of your Social Security Number. If you indicate "Enterprise Zone" in your donation a member of The GrowHaus' staff will reach out for this information.

  • After your donation, we will send you the paperwork you need for your taxes.

If you are interested in making a donation in the form of stocks or bonds, please reach out to Nina Roumell at Nina@thegrowhaus.org.

For more detailed information, please visit this website.

This information should not be construed as tax advice.  Please consult your tax advisor, as situations may vary.