We invite you to take advantage of the new Attainable Homeownership Tax Credit program!
The Indiana state government recently passed the Attainable Homeownership Tax Credit, an incredible program designed to incentivize giving to nonprofits who build affordable homeownership opportunities in the state. Our goal is to increase the number of affordable, Habitat homes built around the state for Hoosiers in need of a safe, affordable place to call home.
How does it work?
Any individuals, couples, businesses and corporations with an Indiana state tax liability can donate to Habitat for Humanity, and receive an Indiana state tax credit equal to 50% of the gift! For example, a gift of $1000 would provide a $500 state tax credit. There is a cap of $10,000 in tax credits earned per tax year (for a $20,,000 donation), but any unused credit may be carried over for up to five years. These credits are available on a first-come, first-serve basis. This program provides an opportunity for you to increase your support of local Habitat families, while saving on your future tax liability.
Who: Tax credits are available for any qualified individual taxpayer, small business or corporation in Indiana who makes a donation for Habitat for Humanity of Indiana.
What: Starting in 2024, these tax credits can be used to offset individual income or business taxes in the year the donation is made. Eligible donations can be checks and credit cards, approved land, stocks and bonds, or cryptocurrency.
How: The tax credit is equal to 50% of the donation made to Habitat. For example, a gift of $1000 qualifies you for a $500 tax credit on your Indiana state income tax return. There is a cap of $10,000 in tax credits allowed per tax year (for a $20,000 donation), but unused credits may be carried over for up to 5 years. The minimum donation is $1,000 for $500 in tax credits, and the maximum is $20,000 for $10,000 in tax credits.
Where: To process the tax credits, donations must be made to Habitat for Humanity of Indiana. Please include Habitat for Humanity of Monroe County on your tax credit form to ensure your donations benefit our local affiliate. Our development director, Lindsey Boswell, is available to answer any questions and assist you with completing your form.
Donate: To participate, email boswell@monroecountyhabitat.org to receive your tax credit form, or download your form here. Checks must be sent with the completed tax credit form to Habitat for Humanity of Indiana, 101 W Ohio St., Ste 2000, Indianapolis, IN 46204. If you have any questions, contact us at 812-331-4069.
How to make an AHTC gift:
1. Make your check payable to Habitat for Humanity of Indiana. In the memo line, specify Habitat for Humanity of Monroe County.
2. Download and fill out the Donor Contribution Form.
3. Mail your check and the donor contribution form to:
Habitat for Humanity of Indiana
101 W. Ohio St., Suite 2000
Indianapolis, IN 46204
You may also make a financial gift or a gift of stock online here (though online credit card gifts incur a transaction fee). Please indicate Habitat for Humanity of Monroe County in the memo line.
Eligible AHTC gifts:
Eligible donations include cash, checks, stocks and bonds, and approved land and new,in-kind construction materials. Contributions from donor-advised funds/trusts (DAFs) and qualified charitable distributions (QCDs) may be eligible. Please consult your tax advisor for specific guidance on tax-credit giving.
There are specific steps you need to take to claim the tax credits. Contact Lindsey Boswell at boswell@monroecountyhabitat.org or 812-331-4069 for more information.
