Tax Credit

The federal government now offers an adoption TAX CREDIT of $10,000 to all adoptive families on qualifying expenses paid for a child's adoption. Contact your taxperson for more information or contact IRS and request informational publication #968. In addition several states offer an additional tax credits or an income tax deduction for families who are adopting a child.

Employer Adoption Benefits

Employee Adoption Benefit Programs. Many employers will help with costs by reimbursing adoption expenses with a cash benefit of up to several thousand dollars. If your employer does not offer this benefit, call Adoption and the Workplace at the National Adoption Center (800-862-3678) for materials to guide you in requesting adoption assistance from your employer.

Article on “How to Lobby Your Employer for Adoption Benefits” is available on: http://www.adopting.org/AdoptiveFamilies.html

Information on Adoption Benefits for Federal Employees can be found on: http://www.opm.gov/wrkfam/html/adoption.htm

Military Non-Recurring Subsidy

The military will reimburse active-duty personnel up to $2000 reimbursement on adoption expenses for one child or $5,000 for siblings. Reimbursement is made after the adoption is finalized and if the adoption is completed through a licensed agency. Eligible personnel should complete DD form 2673 and see Defense Finances and Accounting Service Instruction 1341 for more information. Additional details can be found by calling 1-303-333-0845.

JSW Adoption Foundation

A private non-profit foundation funded through donations and fundraisers. It was established to help adoptive parents by subsidizing a portion of the adoption costs. Grants are awarded quarterly, average grant amount is $3,000, but can go as high as $5,000. Any adoptive family may apply. Requirements are an approved home study and financial need. Preference is given to families without children with an income under $35,000. Their website is http://www.jsw-adoption.org or phone 877-905-2367.

National Adoption Foundation

This organization has established a $9 million revolving loan bank to provide unsecured loans to adoptive families. Your payments and interest then help other adoptive parents. NAF also offers fixed-rate MBNA Home Equity Loans. Both loan programs are financed through MBNA. The foundation has a limited program to provide grants from $500 to $4000 to assist families with adoption costs. You can call the foundation to request that an application packet be sent to you. For grant information, call: (203) 791-3811 or you can visit their website is http://www.nafadopt.org For loan information through the National Adoption Foundation, call MBNA bank at: 1-800-448-7061 or 1-800-626-2760 (unsecured loans) or 1-800-841-1982 (secured loans)

The Boatner Family Foundation

The foundation which provides grants from $1,000 up to $10,000. They require an agency approval, a financial statement, and a formal application. Contact: The Boatner Foundation, P O Box 132272, The Woodlands, Texas 77393-2272

A Child Awaits

Loans are available for up to $7000 for one child or $10,000 for two. They are interested in assisting families who can financially support a child and repay the loan, but who do not have the current funds to adopt. Website: http://www.achildawaits.org or call 413-499-3992

Hebrew Free Loan Association/DOMOI Foundation

Provides loans of up to $10,000 for Jewish families who wish to adopt. Website: http://www.hflasf.org/adopt-loans.html or call 415-546-9902

National Adoption Foundation Loan Program

Provides secured and unsecured loans available for adoption related costs. Website; http://www.nafadopt.org or call 888-627-8767, 800-626-2760, 800-841-1982

First Union Bank Adoption Loan Program

Call 888-314-5437. An adoption loan program available to families who live in those states in which First Union operates.

How To Make Adoption An Affordable Option

This is a comprehensive booklet, published by the National Endowment for Financial Education. Available free-of-charge from the: Consumer Information Center, Pueblo, CO 81009, call (719) 948-4000 Ask for Item # 602-E. Booklet available on Internet site also: http://www.nefe.org

New Adoption Financing Program

AdoptionFinancing.com is now offering a brand new adoption financing program. Fill out the application at AdoptionFinancing.com and they will work with their network of more than 30 different lenders to find the right financing for your needs.