Foster Care Donation Tax Credit
Gibault is approved by the Department of Child Services as a Foster Care Organization. As a result, a tax credit may be available for your individual or corporate donation. The maximum amount of credit that will be granted is 50% of the donation up to $10,000 for all donations to one or multiple approved foster care organizations during any one calendar year. The State of Indiana has set aside $2,000,000 per calendar year for the purpose of donation to an approved agency or fund. The tax credit approval is on a first-in, first-out basis. Once the State funds are depleted, you will receive a notification that your application was denied. If you have donated this year, we encourage you to submit your application for the tax credit by the end of the year. If you are still considering donating, now is the time to take advantage of the tax benefit this year!
To be eligible for the tax credit, donors must complete an application and submit along with proof of the donation to the Indiana Department of Revenue (DOR). The DOR will send an approval or denial within 45 days of submittal. If the application is approved, the DOR will issue a certification number to use when filing your income tax return.