The Pagosa Springs CDC is one of several organizations in Archuleta County that have been approved as an Enterprise Zone Contribution Project by the Colorado Economic Development Commission. This designation allows donations made to these organization’s to be eligible for a 25% state tax credit on cash donations and a 12.5 % state tax credit on in-kind donations. What this means is that when you, or your business, gives a contribution (typically in the $250 range) you can claim a 25% state tax credit on that donation. That means $25 for every $100 donation. This credit is in addition to the current federal benefits of contributing to nonprofit organizations.
Since the purpose of the EZ program is to improve the economic conditions of an area (measured by population change, unemployment and per-capita income), the nonprofit must fit narrow criteria to be designated as a project. State statute specifically mentions homelessness, health care and job training. To be eligible, a proposed project must be approved by the local Enterprise Zone Administrator (Region 9 Economic Development District) and approved by the Colorado Economic Development Commission.
Other Archuleta organizations in addition to the Pagosa Springs CDC include: Dr Mary Fisher Medical Foundation, Geothermal Greenhouse Project, and Habitat for Humanity of Archuleta County.
A list of eligible Enterprise Zone projects and additional program information is available online at www.scan.org, https://choosecolorado.com/doing-business/incentives-financing/ez/ or by calling the Region 9 Economic Development District at 970-247-9621. You may also contact the Pagosa Springs CDC via email or call 970-264-2360 for more information about eligible projects.
CLICK HERE to view Southwest Enterprise Zone fact sheet