Why Donate to Old Town Hot Springs?

Old Town Hot Springs is an independent, 501(c)(3) non-profit organization that is not tax-supported like so many other community recreation and fitness facilities. Given the nature and age of our building, systems, and pools, upkeep and maintenance costs alone are substantial. The revenue we generate is critical for funding our extensive operating costs. In order to move beyond everyday operations, essential repairs, and much-needed updates, fundraising is the critical component that will help us meet the highest standards for our facility and organization. We have a vision to expand our building and services so we can provide this community with the best space for wellness, aquatics, fitness, and fun. And you can help Old Town Hot Springs be the best! Your donation to Old Town Hot Springs is tax deductible as a charitable contribution to the full extent permitted by law.

Colorado Enterprise Zone Contribution Project

As of January 19, 2017, Old Town Hot Springs (OTHS) is a Colorado Enterprise Zone Contribution Project. This means that a member/donor who makes a contribution to OTHS of $250 or more, may claim a Colorado income tax credit of up to 25 percent of the amount of his or her donation. This dollar-for-dollar credit against Colorado state income taxes can be claimed by the donor in addition to any federal or state income tax deduction.

About Enterprise Zone

In 1986, the Colorado legislature created enterprise zones as a way to assist businesses and non-profit organizations located in economically depressed areas throughout the state. This legislation makes it possible for Old Town Hot Springs to offer its donors a 25% Colorado state income tax credit on cash contributions of $250 or more.

The Process:

  • The Enterprise Zone tax credit is in addition to the charitable deduction allowed to adjust taxable income.
  • Donors can contribute by check (or online), $250 minimum amount to $400,000 maximum amount.
  • Please note that there is a $750,000 tax credit limit per Project per year, and Old Town Hot Springs will monitor contributions certified to stay within this limit.
  • Donors must indicate your desire for Enterprise Zone tax credit by writing “EZ” on the memo line of your check, or marking “EZ” in the note section when donating online.
  • Donors send check to the Old Town Hot Springs at P.O. Box 771211, Steamboat Springs, CO 80487.
  • Please note: To qualify for Enterprise Zone credit, you must provide one of the following to Old Town Hot Springs: Federal Employer Tax Identification Number (FEIN), your Colorado Taxpayer Identification Number or the last four digits of your Social Security Number. (Old Town Hot Springs keeps these numbers secure and private to your account.)
  • Within 60 days, Old Town Hot Springs sends the donor a Certification of Qualified Enterprise Zone Contribution Form (DR0075) to use at tax time to claim your tax credit and deductions.
  • You must file your tax return electronically with the Colorado Department of Revenue.

Program Benefits

  • Decreases donor's state tax liability through a 25% state tax credit for cash gifts and 12.5% for in-kind contributions such as stocks (there must be a state tax liability).
  • Provides the opportunity for donors to help more people in need by decreasing the net cost of their contribution.

Please consult with your professional tax advisor to be sure the Enterprise Zone tax credit program will be of benefit to your specific tax situation.