2023 Oregon IDA Tax Credits are Now Available!
2023 IDA Tax Credits are available for purchase until April 15th, 2024. As long as your gift arrives before we sell out or Tax Day 2024 (whichever comes first), we can issue 2023 Tax Credits.
The Oregon IDA Initiative brings state resources to support financial stability and wealth building among Oregonians with lower incomes, working to ensure an equitable and statewide impact in communities historically and systemically excluded from economic opportunities.
With your help, we can ensure that every Oregonian finds the safety of a home, the promise of education, or the opportunity to see their business flourish.
By making a gift today, 90% of your community-changing contribution is returned to you in Oregon State Tax Credits, while the remaining 10% can be written off as a charitable contribution.
Important Information for All Donors
- The Oregon Dept. of Revenue requires that we collect donor Social Security Numbers or Employee Identification Numbers.
- There is a $500,000 limit on tax credits an individual can claim on contributions per return filed. That would be a contribution of $555,555. Gifts in excess of this limit can be carried forward for three years.
- The tax credit rate for all donations is 90%.
How to Donate
- Decide whether you want to donate via credit card, check, wire transfer, or stock/mutual funds.
- Complete the Tax Credit Donor form below. If the form does not appear, click here. Please keep in mind that we can’t send your tax acknowledgement letter until we receive your donor form.
- Credit card donations: Click the button below to donate via credit card.
- Check donations: Make your check payable to “Oregon IDA Initiative” and mail it to the address below. If you choose to mail a physical donor form, please include it with your check.
ATTN: Oregon IDA Initiative
120 NW 9th Ave, Ste 216
Portland, OR 97209
- Wire transfer donations: Please email or call us (503-226-3001 ext. 2) before initiating a wire transfer donation.
- Stock / mutual fund donations: After completing the
donor form, transfer the securities from your account to the brokerage
account for Neighborhood Partnerships (NP) at Piper Sandler. The NP
Account information is:
- Please Note: Transfers to the Neighborhood Partnerships brokerage account are completed through the DTC system. Not all securities are eligible to be transferred via the DTC system. Consult your brokerage firm or holding company to confirm that transfers through the DTC system are available.
- If your securities are not eligible to be transferred through the DTC system, your donation will take additional time to process. Contact us by email or phone (503-226-3001 ext. 2) as soon as possible to see whether alternate arrangements can be made.
- Stocks or mutual funds are sold following completion of the transfer. The sale price will establish the final contribution value and the value of Oregon tax credits purchased. A receipt will be sent to you within 1-2 weeks of the transfer. For a copy of our stock donation policy containing more detail on valuation of stocks, please contact us by email or phone (503-226-3001 ext. 2).
- Within 1 – 2 weeks of our receipt of your payment and donor form, you will receive an acknowledgement letter confirming your contribution to Neighborhood Partnerships, a 501(c)(3) nonprofit organization.
Nearly your entire donation is returned to you in Oregon State tax credits (90%) to offset your tax liability. For many IDA donors, their gift of stock leads to personal financial gain in addition to their community-changing gift.
Our Stock Donation Benefit Estimator tool can help show you how much you could save by giving appreciated stock to the Oregon IDA Initiative.
Tax Credits Remaining
What is an IDA?
The IDA Initiative builds financial assets and supports Oregonians living on low incomes to build hope, financial stability and the assets needed to thrive. Savers use IDA matching money to increase the power of their own savings to reach self-determined financial goals. The coalition of providers that make up the IDA Initiative work alongside savers to address the needs and visions coming from communities most impacted by an inequitable economy. IDA providers partner with savers by offering community-based support, information about financial systems, and matching money.
Your contribution creates stories of hope, progress and resilience. See IDA savers stories here.
Check out our FAQs and/or reach out via email or phone (503-226-3001 ext. 2) with any questions!
Frequently Asked Questions
How does the Tax Credit Work?
Oregon contributors may receive up to a 90% tax credit on their Oregon state returns for contributions made. This means the Initiative gets $1 of investment for every 90 cents or less in tax credits. As a donor, this tax credit can be used to offset your Oregon personal income tax liability.
What is my tax credit rate?
For contributions by check, wire transfer, or donations of stock/mutual funds, your tax credit rate is 90%. Credit card contributions will also be at 90% as we absorb credit card processing fees to encourage donations that minimize paper handling.
How do the recent changes to the federal IRS codes impact IDA donors?
When you donate to the Initiative, you receive a state tax credit that can be used to offset your Oregon income tax liability. Please note that as of June 2019, the IRS has clarified that when you receive this state tax credit, you may only claim for a charitable deduction on your federal return the portion of your donation that you DO NOT receive a state tax credit for. For example, if you donate $1,000 and receive a 90% state tax credit ($900), you may only claim the 10% ($100) you do not receive the tax credit for as a charitable contribution on your federal return. You can learn more here. We strongly encourage you to consult with your CPA or tax advisor about any specific questions as we are unable to give tax advice.
What else do I need to know?
Please talk to your tax advisor about the particular impacts of the Oregon IDA tax credit on your situation. Depending on your personal circumstances, and especially if you do not pay significant state income tax or property tax, benefits to you may be higher.
Read some success stories!
Tax Credits Remaining