Gary Community Ventures is dedicated to enhancing family economic mobility through increased income, lowered expenses, and wealth building pathways for Colorado families. The recent passage of the Colorado Family Affordability Tax Credit creates an opportunity, particularly when combined with existing state and federal tax credits, to financially strengthen low and middle income households with children, help families afford basic costs of living, improve child outcomes, address debt, begin saving, and over time, invest in assets that grow wealth.

Starting in Spring 2025, hundreds of thousands of Colorado families with children will be eligible to receive sizable tax returns, with annual totals for many households estimated between $5,000-$20,000 when combined with other available tax credits, such as EITC, state and federal CTC, and the Family Affordability Tax Credit, depending on income and number of children. We were seeking proposals from organizations well-positioned to maximize utilization of the Family Affordability Tax Credit, alongside other state and federal family tax credits.

To catalyze family tax credit uptake and utilization over two successive tax cycles (Spring 2025 & 2026) we anticipated awarding 5-8 organizations 1-time grants ranging from $40,000-$80,000, starting in November 2024. Our hope was that this timing would allow organizations and associations to plan for and engage in targeted awareness, outreach, and tax filing support for the 2025 tax cycle, followed by financial coaching and services and data capture post April 2025 to inform improvements in outreach and services for the 2026 tax cycle.

The grant was intended to support costs associated with planning and execution, as well as data capture and reporting.