rodeo-gateEnterprise Zone (EZ) Contributions

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

 $10,000 

25% Enterprise Zone Tax Credit

($2,500)

4.63% Net Colorado State Tax Deduction

(463)

39.6% Federal  Tax Deduction

(3,960)

Total Net Credit to Donor

6,923

Total Net Cost of Contribution

3,077

 

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 foundation@lamarcc.edu 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

Q: What is a qualifying contribution?

A: A contributor may donate funds to be used for College capital improvements or program development. Within these areas, a donor may choose to give to a specific program or capital project. Discuss your interests with Foundation staff to choose an area in which you are most passionate.

Q: Is there a minimum or maximum Enterprise Zone contribution?

A: Yes, SECED has set a $100 minimum contribution amount with no maximum.

Q: Do gifts of stock qualify for an EZ tax credit?

A: Gifts of stock are considered an in-kind contribution. The available tax credit is equal to 12.5% of the market value at the time of the contribution.

Q: Is there a limit on the allowable annual tax credit?

A: Yes, there is a $100,000 annual credit limit. Any credit not used in the first year may be carried forward for a period of up to five years.

Q: How do I learn more about the SECED Enterprise Zone?

A: More information on Southeast Colorado’s Enterprise Zone is available at www.seced.net. For general EZ information, see www.advancecolorado.com/funding-incentives/incentives.

Contact the Foundation Office at 719.336.1520 or foundation@lamarcc.edu 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.