Oregon IDA tax credits are now available!
As our communities begin to recover from COVID-19, the IDA Initiative is taking on a new significance. 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.
Nearly your entire contribution is returned to you in tax credits (90%), sometimes even more: many IDA donors that contribute stock, see personal financial gains in addition to their community-changing gift.
Our 2021 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?
Individual Development Accounts, or IDAs, are matched savings accounts and accompanying financial management education programs that provide our least served Oregonians with a pathway toward first-time homeownership, a college education or start a business in their community. For every dollar saved, the IDA program matches it 3-times over.
Your contribution creates stories of hope, progress and resilience. See IDA savers stories here.
Check out our FAQs and/or reach out to IDATaxCredit@neighborhoodpartnerships.org with any questions!
Frequently Asked Questions Learn more about how the tax credit works. How does the tax credit work? What is my tax credit rate? How do the recent changes to the federal IRS codes impact IDA donors? What else do I need to know?
The Oregon IDA Initiative is funded by the Oregon IDA Tax Credit.
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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.
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.
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.
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.
Learn more about how the tax credit works. How does the tax credit work? What is my tax credit rate? How do the recent changes to the federal IRS codes impact IDA donors? What else do I need to know?
How does the tax credit work?
What is my tax credit rate?
How do the recent changes to the federal IRS codes impact IDA donors?
What else do I need to know?