- Help Us Adopt offers adoption grants up to $5,000.
- Adopt America Network offers subsidies to families adopting from foster care.
- A Child Waits Foundation offers loans to adoptive parents adopting internationally.
- Gift Of Adoption Fund offers grants ranging from $3,500 to $7,000 to adoptive parents.
- God’s Grace Adoption Ministry offers adoption grants and no-interest loans to eligible Christian adoptive families.
- Jewish Free Loan Association offers interest-free loans.
- National Adoption Foundation offers grants and low interest, unsecured loans to adoptive parents.
- Waiting Child Revolving Loan Fund offers no interest loans for children adopted with special needs.
- NZMG Foundation offers a $1000 grant to North Carolina families/individuals.
- CMomA offers up to twenty $5,000 grants annually to families adopting older children or children with special needs.
- Show Hope Organization
- Northwest Airlines offers significant fare discounts for international adoptions.
- Adoption Assistance Program (AAP) can offer financial aid and Medi-Cal to parents of eligible children.
- Adoption Tax Credit grants eligible adoptive families an income tax break of $13,170 for adoption-related expenses.
- Military. Active-duty military families can receive reimbursement of up to $2,000 for adoption costs. Contact your military branch for more information.
- Non-Recurring Adoption Expenses reimburses families for up to $400 of non-recurring adoption expenses for some adoptions.
Many employers help employees adopt children by offering benefits from referral help and extended leaves to cash payments that range from $1,000 to $10,000 or paid leave. For more information, contact your employer or view the National Adoption Center’s list of employers offering adoption benefits at http://www.adopt.org. The Dave Thomas Foundation also compiled a 2014 list of its “most adoption-friendly” workplaces, with not-so-surprisingly the Dave Thomas Foundation and Wendy’s topping the list.
Tax Credits & Tax Deductions
For adoptions finalized in 2014, there is a federal adoption tax credit of up to $13,190 per child. The 2014 adoption tax credit is NOT a refundable credit, so you only get the credit if you have federal income tax liability for that year. However, you can “carry” the credit for 5 years, so if you finalize in 2015 you have up until 2020 to use up your credit.
The credit is paid one time for each adopted child, and should be claimed when taxpayers file taxes for 2014 (typically in early 2015).
To be eligible for the credit, parents must:
- Have adopted a child other than a stepchild — A child must be either under 18 or be physically or mentally unable to take care of him or herself.
- Be within the income limits — How much of the credit parents claim is affected by income. In 2014, families with a modified adjusted gross income below $197,880 can claim full credit. Those with incomes above $237,880 cannot claim the credit; those with incomes from $197,880 to $237,880 can claim partial credit.
For more information, read the IRS guidelines.
Military Family Reimbursement
- Public law 102-190 effective December 5, 1991, established a permanent adoption reimbursement program for active duty members of the military services. An active duty member of the military services who incurs expenses for the adoption of a child under age 18 may be reimbursed up to $2,000 per child for qualifying expenses. Couples where both spouses are members of a military service may not receive reimbursement under the program totaling more than $5,000 in any calendar year.
- “Active duty service members in the Armed Services and the US Coast Guard, and commissioned officers of the Public Health Service and the National Oceanic and Atmospheric Administration are eligible for reimbursement up to $2,000 for certain qualifying expenses. The Department of Defense (DoD) also has an official instruction (DoD Instruction number 1341.9) which outlines policy concerning reimbursement and guidelines concerning the granting of leave and deferments at the discretion of the commander. The Defense Finance and Accounting Service (DFAS) is the proponent for reimbursement through the use of DD Form 2675. Recent legislation has provided for 21 days of non-chargeable leave for service members who are adopting a child.” (http://www.nmfa.org/site/PageServer?pagename=reus_adoptionintro)
- For additional information go to www.nmfa.org