Financing Your Adoption & Other Helpful Information

Christian Family Adoptions

 

Ways to finance adoption and information on federal and state tax credits.

*Please note: CFA does not endorse any of the following options but offers them as a resource to assist families.

 

Adoption Tax Credit

Taxpayers who adopt a child may qualify for the adoption tax credit.Individuals qualify for the adoption tax credit they adopted a child and paid out-of-pocket expenses relating to the adoption. The amount of the tax credit you qualify for is directly related to how much money you spent on adoption-related expenses. If you adopt a special needs child, however, you are entitled to claim the full amount of the adoption credit, even if your out-of-pocket expenses are less than the tax credit amount.  The amount of the non-refundable tax credit for 2014 is $13,190.

 

State Adoptions

In addition, substantial state tax credits are also available in many states. For more information regarding the adoption tax credit please contact a tax professional or log onto www.irs.gov/irb/2011-45_IRB/ar13.html

For Oregon families adopting from the foster care system in any state. Most children adopted from the foster care system are eligible for adoption assistance (subsidy). This may include a medical card and a monthly stipend. Contact our State Adoption Program Coordinator, Becky Hartman at (503) 232-1211, or email bhartman@christianfamilydoptions.org

Adoption Benefits FAQs: www.irs.gov/individuals/article/0,,id=231663,00.html

 

General Grants

This process usually includes an application process.  However, it is not a loan and the money will not need to be repaid by you.  Below are a few grant websites specifically for adoptive families.

  • Boatner Family Foundation – This foundation provides grants from $1,000 up to $10,000. They require an agency approval, a financial statement, and a formal application.  P.O. Box 132272, The Woodlands, TX 77393
  • Gift of Adoption Fund – Applicants are evaluated based on their income, assets, liabilities, earning potential, and other financial resource opportunities. Preference is given to applicants who are experiencing extraordinary financial hardship.  Grant amounts vary between $2,000 and $5,000. Grants are awarded monthly. www.giftofadoption.org
  • God’s Grace Adoption Ministry – Provides grants and financial assistance to families participating in all types of adoptions.  All applicants must be married and currently have an income of $60,000 or less a year. www.ggam.org
  • Helping Kids Cope – This organization offers a “Parents-To-Be-Award” for waiting adoptive couples (all types of adoption considered). www.helpingkidscope.com
  • Open Arms Adoption – Open Arms Adoption grants are not restricted by country, marital status, or other considerations.  Grant applications are accepted from all applicants and awarded twice annually. www.open-arms.org/page6.html
  • Show Hope: Shaohannah's Hope – This organization was founded by Steven Curtis Chapman to provide grants to Christian families. www.showhope.org
  • Help US Adopt – Grants for any US citizen pursuing any kind of adoption. www.HelpUsAdopt.org
  • Parents for ME – Grants for parents pursing parenthood via adoption or medical intervention. www.parenthoodforme.org
  • Publications USA – publications.usa.gov/epublications/adoption/costs.html
  • CARE – A group of people who believe God's heart for the fatherless must be lived. Our passion is to live it. www.carefamilies.blogspot.com
  • Life Song for Orphans Matching Grants Life Song offers matching grants (range from $2,000-$4,000), which encourage the adopting couple's church family to financially and prayerfully support the adoption. www.lifesongfororphans.org/adGrantLoans.html

 

International Adoptions

  • China Care Foundation – China Care Foundation is especially interested in helping families who are adopting special needs children. To encourage the adoption and care of orphans from China, the China Care Foundations provides financial aid in the form of grants or loans for the adoption and/or medical treatment of orphans. www.chinacare.org
  • Christian Adoption Resources – Provides grants to families adopting through Celebrate Children International. www.christianadoptionresources.org
  • His Kids, Too! – For parents adopting international children, His Kids Too! provides an adoption grant of up to $2,000 for one child, and up to $4,000 for two children. www.hiskidstoo.org
  • Sea of Faces – Established to encourage Christian families with financial assistance to off set the expenses of adopting a child from a developing country. www.seaoffaces.org/grants.htm
  • Orphan Impact – Orphan Impact exists to offer financial support for families who are overburdened with the financial cost of adopting overseas. We strive to help orphans by offering medical assistance, training opportunities and providing, as needed, for the care of orphans. www.orphanimpact.com/Orphan_Impact/Home.html
  • The Asian Bridge – Matching Grant program awards matching grants to families who are raising funds to finance an adoption from Asian countries including China, Korea, Taiwan, Vietnam and Cambodia. For every dollar raised at a designated adoption fund-raiser, The Asian Bridge will match that amount, up to $1,000.00. www.theasianbridge.org

 

Special Needs Adoptions

  • Ibsen Adoption Network (Washington Only) – The Ibsen Adoption Network give adoption grants to families living in the state of Washington.  Preference is given to special needs adoptions.  The allocation committee meets twice a year to consider requests.  Grants average $1,500 per family. www.angelfire.com/home/ibsen/
  • Holt’s Special Needs Adoption Fund – This fund assists families adopting through Holt Adoption Agency who need additional financial support in order to adopt a waiting child. www.holtintl.org/adoption/assistance.shtml
  • Shepherd’s Crook Ministries – This ministry offers financial assistance to Christian families who are led to adopt any of the children listed on their website. www.theshepherdscrook.org/
  • Brittany’s Hope – They work closely with a group of adoption agencies who share their mission to find a family for every waiting child. Because of their close relationship to those agencies, they only offer grants on children being adopted through their affiliates. www.brittanyshope.org/Seedling/

 

LOANS

Many Credit Unions offer an adoption loan program.  Most banks offer home equity loans for adoptions or equity lines of credit with the interest qualifying for a tax deduction. Check with your bank and tax accountant concerning eligibility for the tax deduction. Also, below are a few online loan options:

  • A Child Waits Foundation – An organization offering low interest loans for families adopting internationally.  Eligibility is based upon financial need.  Their objective is to help families who have exhausted all other sources of funds and could not proceed with the adoption without financial assistance. www.achildwaits.org
  • Abba Fund – The Abba Fund provides financial assistance to parents who believe God is calling them to grow their families through adoption.  They offer interest free covenant loans. www.abbafund.org
  • Adoption Financing – Adoption financing helps adoptive families find the best financing for their needs by networking with numerous lenders. www.adoptionfinancing.com
  • Adoption Network Law Center – Adoption Network offers credit-based loans featuring 24-84 month terms.  Call: 1-800-FOR-ADOPT
  • National Adoption Foundation - The NAF offers unsecured loans through a revolving $9 million loan bank for adoptive parents. www.nafadopt.org
  • Oxford Adoption Foundation – The goal of OAF is to increase the number of children who are adopted by making available low interest loans to eligible families to help with some of the cost associated with adoption. www.oxfordadoption.com
  • TMG Foundation (matching grant) – Life International helps remove the financial burden of adoption by offering matching grants which encourage the adopting couple’s church family to financially and prayerfully support the adoption.  They also offer interest-free loans to eligible families. info@tmgfoundation.org
  • Life Song for OrphansInterest Free Loans - The Life Song Legacy Fund offers interest free loans to help families overcome the high cost of adoption. For donors, the Legacy Fund is a gift that keeps on giving. As the loans are repaid, new family needs are met...creating a self-perpetuating fund. www.lifesongfororphans.org/adGrantLoans.html

 

OTHER OPTIONS

 

Informational Resources