Individuals and businesses are passionate about LCC and its future. Now the Foundation has an additional incentive for you to invest in the college. Cash contributions designated for capital improvements and program development are eligible to receive an additional 25% Colorado tax credit through Lamar Community College Foundation’s certified Colorado Enterprise Zone (EZ) contribution project. In-kind contributions are eligible for a 12.5% credit as well.
Lamar Community College is currently in a capital campaign to build three new residence hall units on campus. These buildings will give the College much needed additional on-campus housing and hold up to 28 students each. At right are architectural drawings of the facilities.
The EZ credit is in addition to any state and federal tax deductions for which you are eligible. Using a 39.6% tax bracket as an example, the cost of your $10,000 gift may be as little as $3,077 as illustrated below.
|Amount of Donation to LCCF Workforce Development Project||
|25% Enterprise Zone Tax Credit||
|4.63% Net Colorado State Tax Deduction||
|39.6% Federal Tax Deduction||
|Total Net Credit to Donor||
|Total Net Cost of Contribution||
Depending on your individual tax bracket, the net cost may vary. Consult with your tax preparer advisor to see how this may directly benefit you.
Making a contribution to the LCC Foundation EZ Workforce Development project is easy
Contact the Foundation Office at 719.336.1520 or email@example.com to discuss what giving opportunities are eligible for the EZ credit.
Make a qualifying contribution to the Lamar Community College Foundation (mailing address: 2401 S. Main Street, Lamar, CO 81052). Include a confirmation of how the donation is to be used. Checks must be written to Southeast Colorado Enterprise Development (SECED), with “LCCF Workforce Development” on the memo line. SECED is the State of Colorado’s fiscal agent for the Southeast Colorado Enterprise Zone; all EZ contributions must be processed by SECED. The LCC Foundation will submit your contribution and a corresponding EZ certification form to SECED.
Within 7 – 14 days, SECED will send you a confirmation of your EZ contribution and a copy of the approved certification form for your State tax credit to be filed with your Colorado income tax return. The LCC Foundation will also send an acknowledgement and confirmation of how the EZ contribution will be used.
While your entire contribution is tax deductible/eligible for a tax credit, SECED retains a $5.00 fee for each EZ contribution it processes.
Frequently Asked (EZ) Questions
Contact the Foundation Office at 719.336.1520 or firstname.lastname@example.org to verify your contribution is eligible for an EZ credit.
You are encouraged to seek assistance from a professional tax advisor for personal income tax questions. This material is for general counsel and does not represent tax advice, either expressed or implied. College and Foundation staff members do not advise on any personal income tax requirements or issues.