Annual Review
Executive Summary
The 2024 Annual Review examines the Colorado Homeless Contribution Income Tax Credit (HCTC), which incentivizes private investment in addressing homelessness. The HCTC provides tax credits (25% or 30%) to taxpayers who donate to approved projects of Colorado-based nonprofits serving those experiencing or at risk of homelessness.
This report details the following:
- The HCTC's purpose
- Eligible organizations and projects (operational services or capital campaigns)
- 2024 statutory changes
- Division of Housing monitoring procedures
- Data on contributions, tax credits, and the outcomes of HCTC-funded activities
- Fundraising impact of the HCTC
Compared to 2023, the HCTC raised 26% more funds with a 4% increase in the number of projects. The program is a valuable tool for funding homelessness response and prevention, fostering partnerships, and aiming to make homelessness rare, brief, and one-time in Colorado.
Background and Overview
Created through House Bill 22-1083 and administered by Colorado Department of Local Affairs’ Division of Housing (Division), the Colorado Homeless Contribution Income Tax Credit (HCTC) is intended to help catalyze private investment and civic engagement in efforts to address homelessness in Colorado.
The HCTC provides a tax credit to Colorado taxpayers who make qualifying contributions to approved projects in Colorado-based nonprofit organizations providing services to individuals and families experiencing or at risk of experiencing homelessness across Colorado. The HCTC is available statewide and allows a reduction in the amount of income taxes residents and businesses owe the State of Colorado by either 25% or 30%, based on the location of the approved project to which they have contributed.
When taxpayers make a certified contribution, they can claim:
- 25% of their donation (monetary or value of in-kind) as a state income tax credit if contributed to an approved project located in an urban community.
- 30% of their donation (monetary or value of in-kind) as a state income tax credit if contributed to an approved project located in a rural community.
Approved nonprofit organizations can have multiple approved projects. The primary project is capped at $750,000 for the value of tax credits that may be issued per income tax year. All additional projects for an organization are capped at $750,000 for the value of tax credits that may be issued per income tax year for a maximum total of $1,500,000 in tax credits per organization. Approved projects fall into one of two categories – operational services or capital campaigns. Each approved project must have at least one qualifying activity.
- Operational Service: A service with the primary focus on assisting individuals or families experiencing homelessness or, in the case of prevention, individuals or families facing imminent risk of homelessness. Qualifying activities for Operational Services include Outreach Efforts; Homeless Prevention Services; Safe Emergency, Temporary, or Transitional Shelter; Domestic Violence Survivors Shelters and Services; Supportive Housing; Case Management; Job Placement and Workforce Ready Services; and Other qualifying activities identified as emerging, promising, and providing best practices.
- Capital Campaign: A campaign that encourages public and private partnerships and is focused on raising funds for a specific capital project. A Capital Campaign must involve construction and implementation that commences within three years of the project being approved. Qualifying activities for Capital Campaign projects include Supportive Housing; Community Overnight Shelters, Day Shelters, or Emergency Shelters; Facilities used to provide housing or services to individuals or families experiencing homelessness; and Facilities needed to provide administrative support for approved projects and/or qualifying activities.
Individual taxpayers may receive up to $100,000 in credits per tax year. HCTC requires a minimum donation of $100 or more for monetary contributions and in-kind contributions must be valued at over $5,000. Participating organizations can establish a higher minimum monetary contribution requirement while considering that part of the intent of this new program is to elevate civic engagement. Any credit in excess of a taxpayer's liability for the income tax year for which the credit is claimed may be carried forward for up to five years.
The HCTC program is subject to comprehensive monitoring by the Division of Housing to ensure quality and compliance. This includes ongoing data monitoring, quality assurance of donor records, and regular data transmissions to the Colorado Department of Revenue. The Division conducts annual reviews for the Colorado State Housing Board, performs compliance reviews of organizations and projects, and implements financial monitoring as needed. Additionally, the Division monitors participation thresholds and addresses inactive participation to ensure program effectiveness.
In order to ensure that everyone in Colorado has a safe, stable, and affordable place to live and thrive, Colorado communities need interventions that not only prevent inflow but also facilitate outflow for those actively experiencing homelessness. Advancing this vision requires partnering with local communities to create a robust continuum of proven solutions that meet the diversity of needs that exists across Colorado. The HCTC helps fill in missing funding gaps for service providers within this continuum, ultimately helping to reduce the utilization of emergency services, addressing public safety concerns, and ensuring that homelessness is never inevitable, inescapable, or a way of life.
Legislative Changes in 2024
In 2024, Senate Bill 24-016 became law and included three changes for the HCTC program.
- Contributions through intermediary organizations, as defined in statute, are now allowable for state income tax credits.
- The tax credit certificate includes the last four digits of the Social Security Number for an individual household’s tax ID rather than the full number as previously included in statute.
- The annual review deadline was moved from February 15th to June 30th.
Statutory Guidance for Annual Reviews
Section 39-22-548(3)(f)(I) of the Colorado Revised Statutes, states that “no later than June 30, 2025, the division shall complete a review of every organization and project deemed approved under subsection (5)(a)(II) of this section, and no later than June 30, 2026, and June 30 of each year thereafter, the division shall complete a review of every other approved nonprofit organization and approved project to evaluate performance and compliance with the requirements of this section. The division must review the qualifying activities being provided and determine how the activities are addressing current and emerging needs of individuals and families experiencing homelessness in each approved nonprofit organization's community, or, if applicable, each approved project's community.”
The following review includes information about approved projects and organizations and the impact of the operational services and capital campaigns funded by HCTC contributions.
Monitoring and Reporting
The following Division of Housing monitoring activities ensure quality outputs and compliance for the HCTC. Reporting shows the impact of the HCTC in terms of increased fundraising and also the impact on the community through homelessness response and prevention activities.
Tax Credit Quality Assurance
Ongoing Data Monitoring and Quality Assurance
The HCTC Program Assistant conducts quality assurance monitoring on donor contact records and contribution submissions. Consistently inaccurate information or noncompliance with contribution entry guidelines may trigger financial monitoring. Intermediary organizations are also tracked in the HCTC database and reviewed regularly to ensure that contributions pass through allowable organizations.
Tax Credit Reports to the Department of Revenue
Enforcement and approval of HCTC tax credits is the responsibility of the Department of Revenue (DOR). The DOR is the authority in which each donor’s tax credit is reviewed and processed. Any donors with discrepancies regarding a disapproved tax credit may request a General Letter Ruling or a Private Letter Ruling for clarification. The Division of Housing with the Department of Local Affairs securely transmits the data for all certified income tax credits twice each year as required by Section 39-22-548(8)(A & B), C.R.S.
By September 30th: All approved tax credit certificates that have been received for January 1st through June 30th of the same calendar year.
By March 31st of the following tax year: All approved tax certificates that have been received for July 1st through December 31st of the previous tax year.
Annual Review to the Colorado State Housing Board
The Division will present an annual review that includes information from the Annual Review of Performance and Compliance, individual and collective outcomes and outputs of each approved nonprofit organization, a summary of contributions and eligible tax credit certificates for the previous calendar year (including tax credit information received by Department of Revenue by March 31st), and an estimate of expected contributions for the upcoming calendar year.
Ongoing Participation Threshold Compliance Reviews
During the annual project review and during the annual review of performance, participation level is evaluated. For organizations with eligibility for the full tax year, they must submit contributions from at least five taxpayers or $5,000 in total contributions. These contributions can be made across multiple projects. Contributions should be solicited on a regular basis so that project activity is taking place and making a positive impact in the approved project’s community.
The participation threshold requirement is in place for projects that were approved for the full year. Organizations that were approved for HCTC participation mid-year are not held to this standard and are noted as inactive for their first year of approval if they were unable to participate. Participation is tracked internally, and follow-up actions with organizations that do not meet participation thresholds are included in the case notes for each nonprofit application record in the HCTC Salesforce platform.
Inactive Participation Status
Inactive participation status was granted to projects that were approved for the full year but did not receive any contributions for 2024 and/or the nonprofit organization did not meet the minimum participation requirements. For some organizations, their capital campaign project simply did not raise the funds as expected, and no eligible contributions were collected. In other cases, organizations needed additional support to implement HCTC due to internal challenges such as staffing turnover and technical assistance needs related to financial processes, fundraising, and donor communications.
Inactive participation status was granted to 14 approved projects that did not meet the minimum contribution requirements for 2024. Half of the inactive projects were capital campaigns that did not raise funds as hoped. Two of the inactive projects were approved mid-year and not subject to the participation requirements. One organization decided to no longer participate in the HCTC due to staffing capacity. The remaining organizations with inactive 2024 projects are receiving targeted technical assistance from the Division in 2025 with the goal of successfully implementing HCTC in 2025.
Inactive projects were not included in program reporting, and the total of projects in this report represents active projects, not including approved organizations that did not participate in issuing tax credits for 2024.
Approved Projects and Organizations
In 2024, 96 approved projects across 79 organizations were active in the HCTC program.
Operational Service Projects
Number of Operational Service Projects: 86
Activities implemented by these project types:
Capital Campaign Projects
Number of Capital Campaign Projects: 10
Types of buildings to be constructed, renovated, or acquired:
Project Locations
The map below includes the locations for the 2024 HCTC projects, with 86% of active projects serving urban communities and 14% serving rural communities. Note that each marker may not represent the exact location within the county where qualifying activities are provided because some projects have multiple service locations, and domestic violence shelter locations must remain confidential.
Contributions and Tax Credits
The following information shows the distribution of the HCTC for tax year 2024. This data was retrieved on June 4, 2025. The contribution and tax credit amounts may change slightly as taxpayers continue to request tax credits due to filing deadline extensions and amended tax returns.
Contributions
Total Number of Contributions: 10,301
Total Number of Donors: 6,236
Total Amount of Contributions: $25,183,161.29
Number of Intermediary Organizations: 8
Number of Contributions given through Intermediary Organizations: 1,054
Total Amount of Contributions given through Intermediary Organizations: $1,537,093.82
Tax Credits
Total Amount of Tax Credits: $6,370,106.93
Total Tax Credits for Urban Projects (25% Tax Credit): $5,976,746.71
Total Tax Credits for Rural Projects (30% Tax Credit): $393,360.22
Performance Management: Outcomes and Impact
To evaluate the impact of its programs and projects, including the HCTC program, the Division utilizes various data sources. The Division collaborates with project partners to gather data and gain reliable insights into the effectiveness of different approaches.
The impact of the HCTC program is captured in multiple ways to incorporate the wide variety of approved HCTC organizations. Much of this data is collected through the Colorado Homeless Management Information System (COHMIS). COHMIS is a statewide database used to collect client-level data related to the provision of housing and services to persons experiencing homelessness and persons at risk of experiencing homelessness. Each of the four Continuums of Care (CoCs) in Colorado are responsible for selecting an HMIS software solution that complies with data collection, management, and reporting standards established by the U.S. Department of Housing and Urban Development (HUD). In Colorado, all CoCs have collaborated on selecting a shared software for all COHMIS data.
COHMIS provides a variety of metrics about persons who have had their information entered into COHMIS, allowing the Division and other stakeholders to better understand the extent of homelessness, as well as the capacity and performance of services that exist throughout Colorado. However, certain HCTC Qualifying Activities are not easily captured through COHMIS. This includes Job Placement and Workforce Ready Services and Case Management. These activities are not typically captured in COHMIS as they often occur or are performed by entities operating outside of the larger homeless response system. Domestic violence service providers are unable to use COHMIS due to unique confidentiality concerns and collect data in a comparable database. Where COHMIS information is not available, the Division has provided impact and outcome information using supplementary data sources provided by the HCTC participating organizations.
Outcomes and Outputs of Activities
The Division conducts an annual review to evaluate the outcomes and outputs of all HCTC approved projects and qualifying activities. HCTC nonprofit organizations report information through COHMIS and an additional survey distributed to any participating organization with an activity not captured in COHMIS. The survey was also distributed for any approved capital campaign project and the operational service project types of Domestic Violence Shelter and Services, Case Management, and/or Job Placement and Workforce Ready Services.
Because two data sources, HMIS and the separate survey, were used, adding totals from the two sources would almost certainly include duplicated individuals. To minimize the duplicated data of individuals served by multiple organizations, most datasets only represent the organizations that enrolled their HCTC project activity participants in COHMIS.
Operational Service Outcomes and Outputs
HCTC operational service projects include the continuum of services from prevention, to housing crisis response, to support for permanent housing. All solutions are housing-focused with the long-term goal of projects being successful housing placement. Due to housing shortages across the state, HCTC nonprofit organizations implementing best practices still encounter barriers to housing solutions for participants. In addition, data collection with an often transient population can be difficult, and sometimes nonprofit organizations are simply unable to collect outcomes data. Yet, there is always room for improvement in data quality, and the Division continues to inform and encourage HCTC-approved organizations to conform to data quality standards.
The following outcomes and outputs include activity-level impact at the statewide and regional levels. The state of Colorado has four Continuum of Care (CoC) regions. Each CoC region is designated by the US Department of Housing and Urban Development to coordinate response to homelessness. The four CoCs include Metro Denver (Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, and Jefferson Counties), Northern Colorado (Larimer and Weld Counties), Pikes Peak (El Paso County), and the Balance of State (remaining 54 counties). Using these designated regions to represent community-level response for HCTC project activities represents the efforts of organizations to collaborate for the planning and implementation of a housing and services system that meets the needs of individuals and families experiencing homelessness.
Total Served Across All Activities
Total unduplicated individuals served and enrolled in COHMIS: 57,865
The sum of these project activity categories below may not add up cleanly to this total due to participants receiving services across various projects in different CoCs and across different activity types. One participant may have received outreach services in one CoC and supportive housing in another CoC, for example. Because of this, the sum of the totals of the CoCs would likely include duplicated individuals. In the same way, the sum of the totals of the operational service types would also almost certainly include duplicated individuals.
Exit Destinations
The charts below represent individuals enrolled in COHMIS for all HCTC projects’ activity types in each Continuum of Care. Those who are enrolled in COHMIS and stopped using services at an organization during 2024 were tracked for their exit destination. Some individuals successfully moved into housing, while others exited to unknown destinations due to lost contact. Those whose destinations were unknown are represented in the “Other” category in the charts below.
Service Types
Individuals may access various services via different organizations. The chart below includes the total served via each activity type in HCTC operational service projects based on COHMIS enrollment numbers. One individual who may have accessed multiple services would be counted for each activity type touchpoint below. Please note that Job Training and Workforce Development and Domestic Violence shelter participants are not enrolled in COHMIS for these activity types and therefore are not included in the chart below.
Individuals Served Per Project:
Homeless Prevention Services
Total unduplicated individuals served in COHMIS: 7,050
Homelessness Prevention is a short- to medium-term intervention that prevents an individual or family from moving into an emergency shelter or living in a public or private place not meant for human habitation. Recipients of homelessness prevention services must be at imminent risk of homelessness, according to the definition from HUD, or, for survivors of domestic violence, fit within the HUD criteria for fleeing/attempting to flee domestic violence. Homelessness Prevention efforts focus on households who would become homeless if not for this support.
One organization that helped 100% of its homelessness prevention participants maintain their housing stated, “Rental assistance, or homeless prevention, is the single biggest line item in our budget at $360,000. HCTC contributions provide a solid and diverse funding base for this incredibly important (and community-cost saving, as well as home-saving) preventative service, minimizing our organizational reliance on ephemeral grant funding. This steadiness in funding allows Westside CARES (WSC) to be consistent in its program deployment year-round, unlike other organizations who can only offer prevention services as rent funding comes in. Additionally, having this program supported by individual philanthropists allows WSC the ability to administer the program with a minimum of bureaucracy, resulting in time-saving turnarounds for neighbors in need…We've had many neighbors tell us they waited on other possible sources of help for weeks and got help at WSC immediately.”
Outreach Efforts
Total unduplicated individuals served in COHMIS: 3,503
Operations related to locating and delivering services to individuals experiencing unsheltered homelessness where they are living and building rapport with them may include physically locating individuals residing in unsheltered situations; getting staff to those locations; ongoing communication (including cell phones for outreach workers during the performance of these activities); and and other reasonable and necessary efforts required to locate and build trust with those in unsheltered situations. Outreach efforts include essential services necessary to reach out to unsheltered homeless individuals and families, connect them with emergency shelter, housing, or critical services, and provide them with urgent, non-facility-based care. Component services generally consist of engagement, resource connections, emergency health and mental health services, and transportation.
The table below indicates the number of individuals who were contacted via outreach services once or multiple times.
| Continuum of Care Name | Total Individuals Contacted | Contacted 1 Time | Contacted 2 to 5 times | Contacted 6 to 9 times | Contacted 10 or more times |
|---|---|---|---|---|---|
| Balance of State CoC | 168 | 21 | 79 | 43 | 25 |
| Metro Denver CoC | 960 | 478 | 303 | 69 | 110 |
| Northern Colorado CoC | 1,742 | 336 | 631 | 275 | 500 |
| Pikes Peak CoC | 825 | 81 | 468 | 98 | 178 |
Safe Emergency, Temporary, or Transitional Shelter
Total unduplicated individuals served and enrolled in COHMIS: 33,747
This operational service project type includes any facility with the primary purpose to provide a temporary shelter for people experiencing homelessness. Activities include emergency shelters, day shelters, overnight shelters, navigation campuses, transitional housing/shelters, and bridge housing. Nonprofit shelter provider Springs Rescue Mission (SRM) shared, “The HCTC program is incredibly valuable for the impactful programming at our one-stop-shop homeless services campus. SRM faces growing community needs and costs associated with meeting those needs and the ongoing challenge of inviting new donors to support this work while retaining current donors….The ability to easily access a full-spectrum of services in one location is both lifesaving and stabilizing.”
Domestic Violence Survivors Shelter and Services
Total Served Reported by Domestic Violence Shelters: 3,899
These operational service activities include safe shelter and supportive services provided to domestic violence survivors experiencing homelessness. Due to the unique confidentiality and safety requirements of these programs, these participants are not enrolled in COHMIS. The figure above represents the aggregate number of individuals served as reported by various domestic violence agencies. As individuals may receive services from multiple agencies, the total may include duplicated counts.
Faced with decreases in other funding sources, one domestic violence agency has continued to support survivors through the HCTC’s fundraising incentive: “Because of the HCTC we have been able to increase our donations which has offset a decrease in government funding, allowing us to keep staff who otherwise would not have been able to. This allowed us to serve more clients than we would have if we had to lay off staff because of government funding cuts. We know this will continue to be crucial for our agency as government funding continues to decrease or becomes more unstable.
Without HCTC, I truly believe we would be serving fewer survivors in our community.”
Supportive Housing
Total unduplicated individuals served and enrolled in COHMIS: 4,921
Supportive Housing includes non-time-limited housing assistance, including long-term leasing or rental assistance, and wrap-around supportive services are provided to assist households with less than 30% AMI in achieving housing stability. Supportive Housing projects can be Single Site, also known as Project-Based, or Scattered Site, also known as Tenant-Based. HCTC contributions could be used for supportive services and/or operations costs for this project type.
One organization explained how the HCTC has impacted their supportive housing project: “HCTC has benefited Second Chance Center (SCC) by providing a useful tool for fundraising for vital services at our permanent supportive housing development, Providence at the Heights. SCC provides vital wrap-around services to the residents to ensure that those most vulnerable in our community remain safe and housed. An example of the services provided include but are not limited to food, clothing, transportation assistance, care management, parenting support, and education and behavioral health services.”
Case Management
Total Served Reported by Case Management Providers: 15,319
This project type’s activities include establishing client goals for individuals or families experiencing homelessness and coordination of referrals to address health or mental health benefit procurement and procurement of other essential services for individuals or families experiencing homelessness. The case management outcomes below are not tracked in COHMIS, and these metrics were collected in a separate survey and divided by project location for each CoC.
| Continuum of Care Name | Referrals to Housing | Referrals to Supportive Services | Number of Cases Closed Due to Goal Reached | Number of Participants Who Reached at Least One Goal |
|---|---|---|---|---|
| Balance of State CoC | 2,435 | 8,265 | 521 | 2,199 |
| Metro Denver CoC | 20,901 | 24,550 | 4,426 | 4,285 |
| Northern CoC | 11,551 | 12,919 | 1,123 | 2,099 |
| Pikes Peak CoC | 1,458 | 6,692 | 575 | 471 |
Job Placement and Workforce Ready Services
Total Served Reported by Service Providers: 4,076
These operational service activities are designed to assist individuals or families experiencing homelessness to obtain an employment outcome, including job placement services and services, such as trainings and certifications, that help individuals become workforce ready. One provider shared, “HCTC funds have helped us meet an increase in service demand. For example, our employment program served 625 unduplicated jobseekers…provided with employment navigation (i.e., resume prep, job readiness). This is an increase of 19% year-over-year. 293 jobs were obtained or retained (25% increase), and 386 career closet transactions were recorded (27% increase).”
The data below were collected via a survey from all Job Placement and Workforce Ready Services projects regarding the outcomes of those who participated in workforce readiness activities.
| Continuum of Care Name | Number of Jobs Obtained | Number of Jobs Retained | Number of Credentials Pursued | Number of Credentials Obtained |
|---|---|---|---|---|
| Balance of State CoC | 460 | 34 | 3 | 43 |
| Metro Denver CoC | 836 | 364 | 72 | 147 |
| Northern CoC | 137 | 67 | 28 | 10 |
| Pikes Peak CoC | 113 | 102 | 84 | 50 |
Other Qualifying Activities
Total unduplicated individuals served and enrolled in COHMIS: 7,363
This category includes undefined activities, including the implementation and operation of successor projects or other services for individuals or families experiencing homelessness that are identified by the Division as emerging, promising, or providing best practices. Other services include Rapid Re-housing, resource referrals, and basic needs services such as food and hygiene products. One relatively new nonprofit, Toilet Equity, shared the impact of the HCTC in providing a qualifying service to provide dignifying hygiene options: “With the funds we were able to raise this year, in part likely due to the HCTC, we have been able to stabilize our operations. This year, we've continued to maintain our seven current toilets in the Grand Valley and have retrofitted almost all of them with more durable and cleanable building materials. Once we achieve our final hurdle of securing a larger compost site, those funds will also mean that we have the cash flow to allow us to commit to putting more toilets in the field and expanding our impact within the Grand Valley.”
Capital Campaign Outcomes and Outputs
Total Individuals Estimated to Be Served on an Annual Basis: 1,630
Total Estimated Beds: 461
Total Estimated Units: 199
HCTC capital campaign projects include capital improvements to existing housing and facilities or new building costs. Because the operational services have not begun for the majority of these projects, and construction has not been completed, the estimated future outcomes of the capital projects are included above.
Impact
These increases result from the Division’s effective administration and the diligent fundraising efforts of the HCTC nonprofit participants. The impact of Senate Bill 24-016 may have fueled the increase in contributions by allowing contributions through intermediary organizations and improving donors’ comfort level in participating in the HCTC since the last four digits of their Social Security Numbers are now included on the tax credit certificate rather than the full nine digits.
In 2024, the HCTC raised 26% more funds for eligible activities and saw a 4% increase in the number of projects compared to 2023.
Overall Fundraising Impact
Organizations report greater donor engagement through offering the HCTC to donors, with more committed returning donors who contribute larger gifts. Organizations also have more first-time donors interested in the HCTC. The tax credit can be an incentive for donors to give a higher amount since they will receive a personal benefit from the gift. In addition to the financial investment, donors often demonstrate a greater personal connection to the organization’s mission. Below are quotes from organizations with their feedback regarding fundraising impact.
“Not only does the HCTC improve funding, but helps us discover more meaningful connections.”
- “The low amount for HCTC qualification encourages our donors to give at a higher level than they would otherwise. Our average donation amount hovers around $25 so the $100 threshold elevates that average by encouraging greater donations so as to qualify for the credit. It also encourages people to want to give more than once, since they are also benefiting from the gift via the tax credit.”
- “Promotion initiatives and an online appeal highlighting the benefit of HCTC has given us greater outreach within the community. We saw an increase in donations for our Food Truck Ministry program, which will hopefully allow us to expand the program in the coming year and serve more people in need. We also saw an uptick in volunteer inquiries from individuals, schools, and local groups, which will allow us more partnership opportunities and result in growing our donor base for our overall mission.”
- “By leveraging the HCTC program, TGTHR has been able to grow our donor base and sustain our mission, ensuring that more young people have access to the resources they need to break cycles of homelessness and build brighter futures.”
- “The HCTC has helped sustain our programs and services by incentivizing giving to our mission. While some may approach us because of the tax credit, they learn about who we are and become more invested in our work, resulting in deeper mission partnership. Not only does the HCTC improve funding, but helps us discover more meaningful connections.”
- “We have found donors to be very receptive to the program and excited to learn that their gift qualifies for the tax credit. Beyond raising significant funding, which was enhanced by the HCTC offer, [Springs Rescue Mission] received and processed seven significant stock donations which were processed for HCTC. This was a big deal for us, considering that we had just 1-2 stock donations the year prior. Thank you for making this program available to our donors! We are grateful!”
- “The HCTC program has not only supported The Inn Between’s ability to provide stable, affordable housing but has also played a key role in donor cultivation and enthusiasm. The added incentive of tax credits encouraged more donors to contribute, particularly to our Giving Circle match fund. Because of this increased support, we were able to secure two matching gift funds, one for $50,000 and another for $25,000, totaling $75,000. The momentum generated by these matches inspired even more giving, and we ultimately exceeded our goal, making this our most successful year-end campaign to date.”
- “Donors are very appreciative of the added benefit of the tax credit when making donations to qualified programs. Having strong support from individual donors strengthens our services by bringing stability to areas in which grant funding may change year-to-year. We are able to continue our strong programming in the community that so many individuals and families in need know they can turn to when they need it most.”
- “We share the benefits of the HCTC with every current and potential donor throughout the year and in our end-of-year giving campaign. We reference how to submit for an HCTC in every donor thank you letter/receipt. Several donors have told us that whatever they get as a tax credit is returned to our organization the following year, thereby generating more funds for our organization (for example, if they give $100 and get $25 in tax credit, they give us $125 the next year). The HCTC also helps persuade other charitable donors who consider tax credits before donating (like the CO Child Care Tax Credit) to consider our organization, too.”
Fundraising Impacts for Operational Services
Funds raised by leveraging the HCTC often have direct impact on services provided.
- “HCTC is very important to our program. It allows us to offer needed services to those experiencing homelessness. With support from the HCTC we were able to offer over 25,000 nights of safe shelter to individuals experiencing homelessness in 2024. In addition, we were able to offer extensive case management and job placement and workforce support services.”
- “Through the contributions submitted through HCTC, Movement 5280 was able to expand its emergency shelter capacity, provide essential services like food, hygiene, and transportation, increase outreach efforts, and support recovery programs.”
- “HCTC has increased the number of donations received by Comitis Crisis Center, as funding was more limited this year. These donations helped us to fill in the gaps where needed.”
- “While it's difficult to put a number on how much of our fundraising success in 2024 was attributable to HCTC, it's clear we have been able to open our Shelter for more people and longer than we would have had we not had that extra [HCTC] incentive.”
- “Step was able to offer extra services this year in our program thanks to increased funding as a result of the HCTC program. For example, Step was able to provide regular community dinners with our residents and Recovery Support Managers. These dinners helped to foster a sense of community within Step, which is one of our core principles.”
“HCTC benefited the organization by motivating donors to give. Because of the increased giving this year we were able to provide more rental and individual counseling assistance.”
Fundraising Impacts for Capital Campaigns
Organizations reported the following results of offering the HCTC to their capital campaign donors.
- “Increased number of bedrooms and all bedrooms will be ADA accessible.”
- “Open Door Ministries acquired Humboldt, a 13-unit apartment complex completely debt-free, largely because our generous donors received and leveraged the HCTC benefit.”
- “Community support also allowed SPAN to complete the "No Pet Left Behind" capital campaign at our Shelter, making some basic modifications to the facility and engaging with the Humane Society of Boulder Valley for support so we can now provide shelter to survivors' beloved animal companions. SPAN began accepting pets at Shelter in September 2024, and in just the final three months of the year we sheltered 20 pets along with their survivors/owners.”
While numbers offer insight, the true impact of the HCTC lies in the lives transformed. The HCTC empowers Colorado’s homeless service providers to diversify and fortify their sources of funding through engaging more individual donors. Each contribution made through the HCTC supports meeting the needs of those experiencing homelessness – an investment in dignity, hope, and the chance for a stable future. This continuum of services, from immediate assistance to long-term solutions, fosters a powerful partnership between taxpayers and nonprofits, together investing in a stronger, more resilient Colorado. As a whole, we are advancing a vision where homelessness is rare and brief, with the HCTC serving as a vital instrument for change.
“Because of this tax credit, many donors were incentivized to make additional gifts or even multi-year pledges to this project outside of their ‘typical’ annual giving. Because of this generosity, the budget goal for this project has been met.”