For Parents For Youth

Did you know that you can get tax benefits simply by donating to Covenant House Missouri?

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Tax Credits Through CHMO

The Missouri Department of Economic Development recognizes the value of certain social service programs for the welfare of our youth by allowing service providers to offer 50% Youth Opportunities Program (YOP) tax credits to donors. You will be able to eliminate a portion of your tax obligation to the State through your donation to Covenant House Missouri.

It's easy:

1. Make a donation of $1,000 or more to Covenant House Missouri.

2. Covenant House Missouri sends a tax credit form with an acknowledgement of your donation.

3. Fill out a simple one-page application and return it to Covenant House Missouri.

4. Covenant House Missouri will validate the application and forward it to the State of Missouri.

5. The State of Missouri processes the application (usually between two to six weeks) and will send you an Eligibility Certificate and MO-TC form which you then include with your State tax return.

For a donation of:       The out-of-pocket cost is:

$1,000                           $265

$ 5,000                          $1,325

$25,000                         $6,625

Example of How it Works:

For individuals filing an itemized return and making a $1,000 donation, your out-of-pocket cost is only $265 and computed as follows:

$1,000   Donation*

-$500     50% State Tax Credit

-$350     Federal charitable tax deduction based on a 35% Federal tax bracket.

-$60       Missouri charitable tax deduction based on a 6% State tax bracket

($175)    Reduced Federal deduction for State tax paid based on a 35% Federal tax bracket.

=$265   Out of pocket cost

*A minimum of $1,000 donation is required to receive tax credits.

Click here for a one page informational handout on YOP tax credits.

Covenant House Missouri recommends that you consult a professional tax advisor when calculating tax benefits of this or any charitable gift.

For more information contact Sue Wagener at 314-450-7661 or email at swagener@covenanthousemo.org.