Federal Adoption Tax Credit: This tax credit provides the adoptive parents with a $13,190 dollar for dollar credit per child for expenses paid to adopt. For incomes below $197,880 the entire credit can be taken. For incomes between $197,880-237,880 a partial credit can be taken.
State Adoption Tax Credit: Classified state employees are entitled to a State Adoption Employee Benefit allowing them to receive up to $3,000 per adoption.
Employer Adoption Assistance Benefit: Many employers have adoption expense programs available. Ask your employer about this benefit. A partial list can be found at http://benefits.adoption.com
A Child Waits: A non-profit foundation offering 5 year low interest loans to families adopting internationally. One child loan amount $7,000, two children $10,000. www.achildwaits.org
National Adoption Foundation: A revolving loan financing program is available for adoptive families. Call 203-791-3811 for an application.
Home Equity Loan: Interest is usually tax deductible.
MBNA: Gold Option Loans available for adoption. They are unsecured for up to $25,000. Call 1-888-500-6268
Nations Bank: Low interest loans for adoption 1-800-448-7061
First Union (D.C.): Low interest loans for adoption 1-888-314-5437
JVS Foundation: Offers grants amounting to $2,000 or more to families adopting. Call 1-877-905-2367
401K: Borrow against your 401K.
The National Adoption Loan Program: (www.nafadopt.org)
Wide Smile: (www.widesmiles2.org)
Affording Adoptions: – a list of resources www.affordingadoption.com
Gift Money: Often family members will give loved ones adopting personal loans or a monetary gift to assist with adoption costs.
Shaohanna’s Hope: www.showhope.org grants to assist adoptive families
The ABBA Fund: www.abbafund.org No interest loans to Christian couples who are called by God to expand their family through adoption.
China Care: www.chinacare.org Grants to American families adoption special needs or older children from China
The Gift of Adoption Fund: www.giftofadoption.org Grants to qualified US citizens who have an approved home study. Average grants $2,000-$5,000.
I CARE: grants for adoption www.intlcare.org
Dave Thomas Foundation: www.davethomasfoundation.org
Military families: may receive up to $2,000 in financial assistance from the US Armed Forces.
Lifesong for Orphans: Offers matching grants and interest free loanswww.lifesongfororphans.org/adGrantLoans.html
Chase Bank New Additions: www.chase.com/NewAdditions or 1-866-345-7687
If Adoption Assistance is working with a birthmother and you are chosen to adopt her child.
*Fees are non-refundable and payable upon completion of reports.