Adoption Financial Assistance

Adoption is an arduous and expensive process and definitely not a road to be embarked upon by the faint-hearted. It is a sacrificial journey that doesn't end the day the child comes home. Adoptive families often have to forego some of the materialistic pleasures of life in order to gather the financial resources needed to complete their adoptions. Adoption also demands a significant commitment of time in terms of paperwork and travel. Yet, there is something about giving a child a home and a future that causes people to make a commitment to go down that road no matter what the cost.

Families who are considering adoption can find help with their adoption costs through the Adoption Tax Credit. The Hope for Children Act, permanent tax credit legislation offered to adopting parents help to offset the expense of adoption, was signed into law by President Bush on June 7, 2001. The tax credit of $10,000 per child for qualified expenses has been adjusted annually for inflation beginning in 2002. The current tax credit for 2009 is $12,150. A flat $10,000 tax credit is available for each special needs child without regard to expenses. Families having an annual adjusted gross income of less than $182,180 are eligible for the full tax credit after which it begins to phase out. If a family does not owe enough in taxes to utilize the full amount of the tax credit, it can be carried forward for five years or until the full credit has been received.

For more information on the Adoption Tax Credit, go to this web address and type adoption tax credit into the search bar:
http://www.irs.gov/pub/query/html

Some people have a God-given desire in their heart to adopt a child but do not have the financial resources to do so. Others may not have the desire or feel called to adopt but have the financial means by which to help facilitate an adoption for another family. Our Adoption Assistance Fund provides a mechanism to match up the funds with the families.  We gladly accept contributions to our Adoption Assistance Fund from those who have a desire to help other families adopt children.

Click here to donate to our Adoption Assistance Fund.

We provide interest free loans to adoptive families up to $5,000.  As loans are repaid, we are able to use those funds to provide financial assistance to other families, thereby creating a self-replenishing Adoption Assistance Fund.  When resources are limited, we must give first priority for loans to families adopting children through our Summer of Hope program.  Families may also be eligible to receive grants by participting in our fundraising grant program.

Click here for ideas on how to fund your adoption and other sources of financial assistance.