Wondering how you can afford adoption? Below are some ways to help with the costs of building your family through adoption.
The federal government offers an adoption tax credit of $10,000 to all adoptive families on qualifying expenses paid for a child's adoption. Some states offer an additional tax credit or income tax deduction for families that have adopted a child. For more information contact IRS at www.IRS.gov and look up publication #968. National Adoption Foundation
This agency provides secured and unsecured loans for adoption related costs. You can access their web site at www.nafadopt.org/loanprograms or call 888-627-8767.
The Shepherd's Crook Ministries
This is an organization that helps adoptive parents who want to adopt special needs children, are low income families and working with Adoption Avenues to receive grants for completing their adoption. For more information you may access their web site atwww.theshepherdscrook.org
A Child Waits Foundation
Cynthia and Randolph Nelson
1136 Barker Road #12
Pittsfield, MA 01201
Phone# 518-794-8890 or 1-866-999-2445
A Child Waits Foundation is a non-profit charitable foundation with a simple goal: to reduce the number of international children who are not adopted because prospective parents do not have the savings (finances) to pay for the total cost of the international adoption. This foundation helps parents with costs by making low interest loans which cover a portion of the adoption fees.
The foundation can be viewed as providing a down payment towards the adoptive process. (Please take this part out we help families with the final fees)
Eligibility is based on financial need, with each case being considered individually. The maximum loan given is $10,000 with the interest rate set at 5%.
Military Non-Recurring Subsidy
For active duty adoptive parents the military will reimburse up to $2,000 of the adoption expenses for one child and $ 5,000 for siblings. Parents need to file after the adoption is finalized and only if they have worked with a licensed adoption agency. They need to file form DD 2673 and follow the Defense Finance Service Instruction 1341 or call 303-333-0845 for more information.