Receive a 75% Tax Credit and Help Hardworking Oregonians Save For Their Dreams
With the Oregon IDA Initiative Everybody Wins.
The Oregon IDA Initiative works with the Regional Research Institute at Portland State University to evaluate the impacts of your donations.
Between 2008 and 2012, more than 5,200 Oregon residents opened IDA accounts saving approximately $7 million. And 66% of those who opened an account graduated from the program and received matching funds.
Participants report dramatic changes in financial behaviors from the time they entered the program to the time they transitioned out.
How it Works
Plan your contribution
You can donate online, with a check or a transfer of securities. Or determine any additional tax benefits by contacting your tax and financial advisor.
Make your donation
For every dollar contributed, you receive a 75% Oregon tax credit which can be used to directly lower your Oregon tax liability, up to the maximum contribution of $100,000 per return each tax year.
Your donations fuel opportunity for Oregonians in every corner of the state
With the support of local nonprofits, Oregonians with low incomes will get valuable financial training, make a savings plan and save monthly. Upon completion of their savings, they will receive a 3:1 savings match made possible by your clients’ donations. This allows them to start a small business, get an education or buy a home.
“Four years ago, my father was unemployed, I was taking care of my infant twin brothers full-time, and I was cleaning rooms at a hotel. Given my family’s financial and personal burdens, I vacillated between staying in the work force and attending college. However, I realized the best weapon against the cycle of poverty was to further pursue my education.”- Hilda Escalera
How are contributions used?
Contributions are used to support the success of IDA participants.
Seventy percent (70%) of donations go to match the savings of participants who have reached their savings goal and who are ready to make an investment in their future. Participants save monthly toward their goal and earn Oregon IDA Initiative matching funds. In most cases, they earn $3 for every $1 saved.
About nineteen percent (19%) is used to provide financial education, participant support, and training to prepare IDA participants for their goal of running a successful micro-enterprise business, becoming a first time homeowner, or continuing their education or training for a career path. Funds raised through the Oregon IDA Initiative are distributed each year to a network of qualified non-profits across Oregon that support and train participants as they work towards their goal.
About four and one half percent (4.5%) of contributions goes to the network of IDA providers to help cover the costs of data collection, financial accounting, and operational expenses.
Six and one half percent (6.5%) of your contribution goes to manage the overall Initiative, including an independent evaluation, financial and program oversight of the Oregon IDA Initiative and the network of IDA providers and to market the Oregon IDA 75% Tax Credit.
I’ve misplaced my acknowledgement letter for my donation. How can I get another copy?
We’d be happy to help. Simply contact Matt Kinshella by email or by phone at (503) 548-4475 or Mercy Rossi by email with Neighborhood Partnerships and we can mail and/or email you a copy of your acknowledgement. Please note that for your protection, we cannot send a copy of your acknowledgement letters to your financial or tax advisors without your written permission.
Who do I contact for more information?
Contact Matt Kinshella by email or by phone at the Oregon IDA 75% Tax Credit direct line (503) 548-4475. From mid-November through December, we will be responding to calls in the evenings and on the weekends.
Is there a maximum amount that I can donate each year?
Yes. $100,000 is the annual limit per return filed.
Does my contribution qualify for a deduction on my federal tax return?
We are restricted from offering you tax advice. Tax issues are very complicated and can vary on a case by case basis. To determine any additional tax benefits, please contact your tax and financial advisors. This information is not intended to offer nor held out as offering tax or investment advice to any individual or business. You should consult your tax and financial advisors before committing funds to the IDA Initiative or any other tax credit program.
If I don’t need all of my tax credits this year, can I use them next year?
Yes. Excess tax credits can be carried over for up to three years.
Is there a minimum amount I need to donate?
Are there deadlines for donations?
Yes, donations must be received or postmarked by 11:59 pm Pacific Standard Time on December 31st in order for you to receive a tax credit for the corresponding year, or before available credits run out.
Managed by Neighborhood Partnerships, the 25-year-old, 501(c)(3) nonprofit partner of the State of Oregon. Neighborhood Partnerships has received 4 out of 4 stars from Charity Navigator for their excellence in program management.
Please note! Tax issues are very complicated and can vary on a case-by-case basis. To determine any additional tax benefits, please contact your tax and financial advisor. This information is not intended to offer nor held out as offering tax or investment advice to any individual or business. You should consult your tax and financial advisor before committing funds to the IDA Initiative or any other tax credit program.