Thank you to everyone who donated in 2019! 2020 IDA tax credits will be available in the spring – stay tuned for more information.

Individual Development Accounts, or IDAs, are matched savings accounts that change the financial futures of qualifying Oregonians with lower incomes. Participants build financial skills such as budgeting and saving while they save towards a defined goal, and for every dollar they save the Initiative typically matches three dollars. With these funds, participants are able to do things like buy their first home, pay their college tuition, or start a small business. The impact of your donation goes beyond the individual saver to their families and communities.

Click here to read the latest IDA annual evaluation report.

Click here to learn more about how the Initiative works.

Click here to learn more about how the tax credit works.

How does the tax credit work?
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.

What is my tax credit rate?
For contributions by check, wire transfer, or donations of stock/mutual funds, your tax credit rate is 90%. Fore credit card contributions, your tax credit rate is 87% (this covers the credit card processing fee).

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.

Click here for Frequently Asked Questions

Read some success stories!

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If you have any questions, please contact Hannah Waterman by email or by phone (503) 226-3001 x107.