The Tabitha Fund
Adoptions in the southeastern United States cost $13,275 on average plus birth mother expenses. This can hinder some families from pursuing adoption. Embraced by Grace, Inc. is working to make adoptions more affordable for families who have a heart to adopt. Using existing U.S. tax laws, our agency has designed a way for couples to obtain most of the funds they need to cover the expenses involved in adoption.
This plan is called “The Tabitha Fund,” named after the woman from Joppa mentioned in the New Testament who was described as being “full of good works and acts of charity.” By taking advantage of the current tax code, families can fund up to 100% of the costs of adopting using the Tabitha Fund.
How it works:
Corporate and individual donors contribute to the agency’s Tabitha Fund. These monies are provided as interest-free loans to couples adopting through Embraced by Grace, Inc. The adoption fees are immediately paid to the agency from this loan. When the couple files their year-end tax returns, they can apply for a tax credit for qualified adoption expenses. These expenses include but may not be limited to adoption fees, court costs, legal fees, travel including meals and lodging, etc. The IRS adoption tax credit for 2008 is $11,650. When this credit is sent with the couple’s tax refund, they will pay it to the agency to pay back the original loan. The repaid loan is then used to help other families wanting to adopt.
Everybody benefits!
The Tabitha Fund is a great benefit to everyone involved. Donors see their gifts have a residual effect as they are helping family after family to afford adoption. Adopting families are able to pursue adoption now that it is no longer cost prohibitive. The agency is able to cover its expenses incurred in the adoption process. Most importantly, the child is placed into a nurturing Christian home.
Tell me more!
If you would like more information on Embraced by Grace’s new Tabitha Fund, call David Wooten, Director of Development, at (386) 615-9767. Whether you want to make a donation that will continue to have a lasting impact or you are hoping to find a way to make adoption more affordable, Embraced by Grace can help. Call us today.
