How the 75% Tax Credit Works
Individuals and businesses make donations to the Oregon Individual Development Account (IDA) Initiative, managed by Neighborhood Partnerships, and qualify for the Oregon IDA 75% Tax Credit.
For every dollar contributed, the contributor receives a seventy-five percent Oregon tax credit which can be used to directly lower their Oregon tax liability, up to the maximum contribution of $100,000 per return each tax year. For example, if you, as an individual or a business, donate $10,000 through the Oregon IDA 75% Tax Credit, you would receive a $7,500 tax credit.
The Oregon IDA Initiative accepts checks, online donations by credit or debit card, and contributions of stocks and mutual funds. The Oregon IDA Initiative is managed by Neighborhood Partnerships a statewide non-profit 501(c)(3) organization.
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 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.
I want more information:
- Frequently Asked Questions about the Oregon IDA 75% Tax Credit for donors.
- Learn how your contributions are making an impact.
- See sample instructions for claiming the tax credit on your state and federal tax returns.
- The Oregon IDA Initiative is managed by Neighborhood Partnerships; learn more about Neighborhood Partnerships and review recent financial information.
Questions? Contact Kathy Turner by email or by phone at the Oregon IDA 75% Tax Credit direct line (503) 548-4475.