Enterprise Zone (EZ) Contributionsrodeo-gate

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 EZ contribution project.   In-kind contributions are eligible for a 12.5% credit as well.

Lamar Community College has completed a capital campaign to build the first of three new residence hall units on campus and has begun a campaign for the second. These buildings will give the College much needed additional on-campus housing and hold up to 28-32 students each.  At right are architectural drawings of the facilities. Click on image to expand them.

You may also choose to invest in the tomorrow’s workforce by contributing for program development. These investments may be used to improve existing programs or – in some cases – create new ones.  Often donors contribute for equipment, faculty, supplies, or professional development to augment and improve  career & technical education programs on campus, including Construction Trades, Horse Training, Nursing & Allied Health, Renewable Energy Technology, Welding.  These investments allow LCC instructors to better prepare graduates for immediate employment.


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, either for Capital Construction or Program Development (specific program or project also helpful). The LCC Foundation will complete a simple form to go with your contribution and submit it to the Colorado Office of Economic Development & International Trade (OEDIT) for approval.

After approved, the OEDIT and/or their regional certifier, Southeast Colorado Enterprise Development, Inc. (SECED) will email 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.


Frequently Asked (EZ) Questions

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.