HFHIN is processing all of the tax credits at the request of the State of Indiana so there is only one point of contact to process tax credits and ensure privacy, proper accounting, and accurate interface with the Department of Revenue. Due to the volume of tax credits in this program, this will ease the administrative burden for affiliates. Simply send your form and donation in the pre-paid business reply envelope, and HFHIN will take care of the rest.

Yes, you may be able to use multiple tax credits, but you should consult with your tax professional to be sure you understand the limits on any other tax credit program you are participating in. Donors are only allowed a maximum of $10,000 per tax year for the Attainable Homeownership Tax Credit.

Yes, but it will require the affiliate writing you a check back for the donation and you reissuing one to Habitat for Humanity of Indiana, as they are the only Habitat agency that can process a tax credit.

The tax credits are in the Indiana state budget beginning on July 1, 2024; however, any qualified donation made after January 1, 2024, may be eligible.

The data concerning your contribution and tax credit will be shared with the Indiana Department of Revenue to process your tax credit. Your data will also be shared with your local Habitat affiliate so they can send a thank you. HFHIN does not share or sell donor data to any external agency.

Speak with your local affiliate about the donation you would like to make or contact taxcredit@habitatindiana.org to be connected to our broker. Our policy states that stock is sold on the day it is received, and the valuation is based on that sale amount.

Contact your tax professional if you are seeking a credit from a donation from a donor advised fund. The Indiana Department of Revenue has specific rules related to DAFs.

The Indiana Department of Revenue does not allow in-kind gifts of labor for any of its programs including the Attainable Homeownership Tax Credit.

Schedule IN OCC (Other Certified Credits) on your state income tax form.

An in-kind gift must be approved and received by the local Habitat affiliate and in-kind donation form will need to be completed. The tax credit is for building new units of homeownership, so materials must be used in construction to meet that goal. To process the tax credit, send the tax credit donor contribution form and attach a copy of the in-kind donation form to send to Habitat for Humanity of Indiana.

All land donations must be approved by the local Habitat affiliate as suitable for their use, prior to making the donation. In addition to approval, there must be a third-party appraisal performed to establish the value. Once this is completed, there will be title work performed at Barrister Title to ensure clear title. At that time, a corporate warranty deed will be prepared. No limited warranty deeds will be allowed. To process the tax credit, the donor will need to fill out a tax credit donor contribution form and attach a copy of the appraisal when sending it to Habitat for Humanity of Indiana. The first step in making a land/real estate donation is talking with your local Habitat affiliate.

Schedule IN OCC (Other Certified Credits) on your state income tax return.

Reach out to email taxcredit@habitatindiana.org or call 317-454-8090 and ask for Maggie Wimberly if you need any assistance with your tax credit claim.

In addition to an acknowledgement letter from HFHIN for the tax credits, your local affiliate will also send a thank you upon receipt of the gift.

After the donation is made, HFHIN will send you an acknowledgement letter that will have all the pertinent information needed for your tax professional to fill out your Indiana income tax forms to properly claim your credits.

The most common way of making a planned gift is by designating Greater Indy Habitat for Humanity as a beneficiary in your will. There are several other options to create a legacy for Habitat. More gift options can be found here or contact us to set up a meeting to discuss the various options. Your attorney or financial planner may have suggestions that are best suited to your unique needs. 

You may only carry forward tax credits if your tax liability is less than the tax credit amount in a given year. For example, if you have $10,000 in tax credits and you only have $8,000 in tax liability, then you may carry forward the diƯerence of $2,000 in tax credits for up to 5 years until you expend all of the credits. Credits are expended based on the year they were acquired; older tax credits must be used before new tax credits may be applied.

Yes, a maximum of $10,000 in tax credits can be awarded every year if your affiliate has credits available. Credits are processed on a first-come, first-served basis until they are expended or drawn down each year. The tax credit program is currently scheduled to sunset on January 1, 2030.

A donor can make any size donation but may only claim a maximum of $10,000 in tax credits in a given tax year. (Donations over $20,000 do not receive more than $10,000 in tax credits).

Cash, checks, credit cards, stocks, bonds, land/real estate, cryptocurrency, and larger in-kind gifts of building materials are eligible for the program.

A revocable trust can be changed at any time by the grantor during their lifetime, as long as they are competent. An irrevocable trust usually can’t be changed without a court order or the approval of all the trust’s beneficiaries. This makes an irrevocable trust less flexible. 

All donors who make a planned gift become members of our Legacy Builders Society and are recognized in our annual community report. Donors can choose to be recognized anonymously for their gift. There are also additional opportunities for recognition based on donor’s intent and type of gift.  

Simply contact your IRA or retirement plan administrator and request a copy of the Change of Beneficiary Form. Use the form to designate our organization to receive all or a portion or the remainder of your plan’s assets. 

You escape the income and estate tax that will both be levied on the remaining balance of your retirement plan if you leave it to heirs. You can give us the most disadvantageously taxed asset in your estate and leave more favorably taxed property to your heirs. You can continue to take withdrawals from your plan during your lifetime. You can change the beneficiary if your or your family’s circumstances change. 

To name Greater Indy Habitat for Humanity as a beneficiary in your estate plans, you can include the following language: 

“I give to Habitat for Humanity of Greater Indianapolis, DBA Greater Indy Habitat for Humanity, a nonprofit corporation currently located at 3135 N. Meridian St, Indianapolis, IN 46208, or its successor thereto, [written amount/percentage and description] for its unrestricted charitable use and purpose. Greater Indy Habitat for Humanity EIN is 35-1715910.” 

To make a specific bequest, please contact us for more details and language. 

Your gift can make a transformative impact on Greater Indy Habitat for Humanity and creating more affordable housing solutions in our community now and in the future. We can assist you with the designation and provide suggested language for your will to ensure your gift is used how you intend. 

A planned gift can create potential savings on capital gains taxes or estate taxes, lessening the financial burden on your family and loved ones. For instance, a planned gift can reduce your estate tax liability. The assets that you transfer to Greater Indy Habitat for Humanity remain outside of your taxable estate. 

A planned gift enables you to create a legacy by supporting a charity for years to come. 

You can make a gift that costs you nothing during your lifetime and keeps your assets under your control. You can change your bequest at any time if your circumstances change. Your bequest creates a legacy that will have an impact far into the future. 

A bequest is a gift that you make through a will or a revocable trust functioning as a will. A beneficiary designation is a gift you make by way of a contract. Life insurance policies, bank accounts, brokerage accounts, and retirement plans are examples of assets that pass by contractual beneficiary designations. If you don’t name a beneficiary for one of these contracts, or if the beneficiary designation is to someone who has predeceased you or from whom you have since been divorced, then the assets will go to your probate estate and pass by bequest.  Probate can sometimes add costs and delay to estate administration.