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Are finances a barrier to adoption? Most experts agree that one of the principal barriers to adoption and the common
challenges in the decision to adopt is funding. Yes, adoption costly, but credits, reimbursements, and other adoption
benefits can make your adoption affordable.
Here are a few opportunities that will help families cover the cost of adoption process. Take advantage of the benefits listed below:
challenges in the decision to adopt is funding. Yes, adoption costly, but credits, reimbursements, and other adoption
benefits can make your adoption affordable.
Here are a few opportunities that will help families cover the cost of adoption process. Take advantage of the benefits listed below:
COST OF ADOPTION PROCESS
COST OF INTERNATIONAL ADOPTION PROCESS
Adoption tax credit
Beginning in 2007, the credit allowed for an adoption of a child with special needs is $11,390 and the maximum credit allowed for
other adoptions is the amount of qualified adoption expenses up to $11,390. The credit begins to phase out if you have modified
adjusted gross income of $170,820 or more and is completely phased out if you have modified adjusted gross income of $210,820
or more.
Adoption assistance program. Beginning in 2007, you may be able to exclude up to $11,390 from your gross income for qualified
adoption expenses paid or incurred by your employer under a qualified adoption assistance program in connection with your
adoption of an eligible child. This income exclusion starts to phase out if your modified adjusted gross income is $170,820 or more
and is completely phased out if your modified adjusted gross income is $210,820 or more.
State Adoption Subsidy Profiles
The federal government allocates funds to states to reimburse fees paid by adoptive families of children with special needs. States
choose whether to accept the funds, and can decide which adoptions are eligible for reimbursement. International adoptions are
eligible in some states; domestic adoptions are eligible in every state. How do I apply? Each state has specific rules about when and
how to apply for reimbursement and/or subsidies. In some states, you must apply before your adoption is finalized. Review your
state's requirements carefully.
The information contained in NACAC's state subsidy profiles is updated annually and verified by the states for accuracy. However,
there may be times when a state program is in flux and the information in the profile is out of date. If you have questions about
specific policies or regulations, please contact the state subsidy contact listed at the beginning of each profile.http://www.nacac.
org/subsidy_stateprofiles.html
Military, Non-recurring Program
One-time subsidy program if you are full-time military personnel. Adopting couples or singles can receive up to $2000
reimbursement on adoption expenses for one child or $5,000 for siblings. Eligible personnel should complete DD Form 2675
(Reimbursement for Adoption Expense). Contact your military branch for more information. The form can be obtained at
http://www.dior.whs.mil/forms/DD2675.PDF
Employer benefits
Many employers now offer an Adoption Reimbursement Program. More than 200 businesses have begun helping
employees adopt children by offering benefits from referral help and extended leaves to cash payments that range
from $1,000 to $10,000. If your employer does not offer this benefit, call Adoption and the Workplace at the
National Adoption Center (800-862-3678) for help in requesting adoption assistance from your employer.
Here are a few examples:
The Harvard Adoption Assistance Plan
Helps eligible University employees defray the cost of adoption. Adoption assistance of up to $5000 granted for expenses directly
related to the legal adoption of a child, excluding the adoption of the child of an employee's spouse or domestic partner. Financial
need is not a factor. http://www.workingatharvard.org/r-support
Direct Reimbursement.
Companies such as Hewitt, Wendy's Hallmark, and Microsoft reimburse adoptive families for up to $5,000 to cover adoption
expenses.
Paid/Unpaid Leave.
Patagonia, Ben & Jerry's, and Genetech are just a few of the companies offering parental leave from work to care for adopted
children. For more information, contact your employer.
Adoption Foundations
National Adoption Foundation
The Foundation offers aid to families for expenses associated with the adoption and raising of children through Direct Grants
provided by The Foundation, our Adoption Credit Card, 529 college savings plans and Unsecured Loans at
http://www.nafadopt.org/how-we-can-help/how-we-can-help.shtml
A Child Waits Foundation
A Child Waits Foundation is a nonprofit charitable foundation formed in 1998. Our purpose 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 of adoption. By making low-
interest loans to prospective parents, A Child Waits Foundation is able to help change a child's future from one without hope and to
help fulfill a dream for many families. Currently the Foundation employs very few staff, therefore expenses are low and a large
portion of the Foundation's funds goes directly to prospective parents to help save children from a parentless life.
http://www.achildwaits.org/
JSW Adoption Foundation
A private foundation established to assist potential adoptive parents by providing cash grants to subsidize a portion of the adoption
expenses. Grants are awarded from $2,000 and up. Preference is given to childless applicants and those who are experiencing
extraordinary hardship and financial need. For further information, contact the JSW Adoption Foundation at 127 East Main Street,
Suite 5, Port Washington, WI, 53074, 262/268-1386, or view their website at http://www.jsw-adoption.org
God's Grace Adoption Ministry
Provides adoption grants and no-interest loans to eligible families. For more information, visit http://www.ggam.org
Home for Good Foundation
Offers resources, grants, loans and matching funds, focusing on adoption of older children, children with special needs and sibling
groups. For more information, visit the Home for Good http://www.hfgf.org
Acres of Hope
A non-profit charitable foundation dedicated to helping families with physically and emotionally challenged children.
http://www.acresofhope.com/foundation
Christian Adoption Resources, Inc.
Grant program available for Christian families who meet grant requirements.http://www.christianadoptionresources.org
Hebrew Free Loan Association
Offers interest-free loans for Jewish families adopting domestically or internationally.http://www.hflasf.org/adopt-loans
Loans, credit cards…
APF USA
A loan processing company which offers adoption loans. http://www.apfusa.com/adoption
MBNA
Offers unsecured loans specifically designed for adoptive parents. They may be contacted at 888/627-8767.
First Union Bank's Adoption Loan Program
Call (888) 314-5437 Available to residents of CT, DE, FL, GA, MD, NC, NJ, NY or VA.
Your Local Bank
Many banks are willing to offer equity loans for adoption purposes
Beginning in 2007, the credit allowed for an adoption of a child with special needs is $11,390 and the maximum credit allowed for
other adoptions is the amount of qualified adoption expenses up to $11,390. The credit begins to phase out if you have modified
adjusted gross income of $170,820 or more and is completely phased out if you have modified adjusted gross income of $210,820
or more.
Adoption assistance program. Beginning in 2007, you may be able to exclude up to $11,390 from your gross income for qualified
adoption expenses paid or incurred by your employer under a qualified adoption assistance program in connection with your
adoption of an eligible child. This income exclusion starts to phase out if your modified adjusted gross income is $170,820 or more
and is completely phased out if your modified adjusted gross income is $210,820 or more.
State Adoption Subsidy Profiles
The federal government allocates funds to states to reimburse fees paid by adoptive families of children with special needs. States
choose whether to accept the funds, and can decide which adoptions are eligible for reimbursement. International adoptions are
eligible in some states; domestic adoptions are eligible in every state. How do I apply? Each state has specific rules about when and
how to apply for reimbursement and/or subsidies. In some states, you must apply before your adoption is finalized. Review your
state's requirements carefully.
The information contained in NACAC's state subsidy profiles is updated annually and verified by the states for accuracy. However,
there may be times when a state program is in flux and the information in the profile is out of date. If you have questions about
specific policies or regulations, please contact the state subsidy contact listed at the beginning of each profile.http://www.nacac.
org/subsidy_stateprofiles.html
Military, Non-recurring Program
One-time subsidy program if you are full-time military personnel. Adopting couples or singles can receive up to $2000
reimbursement on adoption expenses for one child or $5,000 for siblings. Eligible personnel should complete DD Form 2675
(Reimbursement for Adoption Expense). Contact your military branch for more information. The form can be obtained at
http://www.dior.whs.mil/forms/DD2675.PDF
Employer benefits
Many employers now offer an Adoption Reimbursement Program. More than 200 businesses have begun helping
employees adopt children by offering benefits from referral help and extended leaves to cash payments that range
from $1,000 to $10,000. If your employer does not offer this benefit, call Adoption and the Workplace at the
National Adoption Center (800-862-3678) for help in requesting adoption assistance from your employer.
Here are a few examples:
The Harvard Adoption Assistance Plan
Helps eligible University employees defray the cost of adoption. Adoption assistance of up to $5000 granted for expenses directly
related to the legal adoption of a child, excluding the adoption of the child of an employee's spouse or domestic partner. Financial
need is not a factor. http://www.workingatharvard.org/r-support
Direct Reimbursement.
Companies such as Hewitt, Wendy's Hallmark, and Microsoft reimburse adoptive families for up to $5,000 to cover adoption
expenses.
Paid/Unpaid Leave.
Patagonia, Ben & Jerry's, and Genetech are just a few of the companies offering parental leave from work to care for adopted
children. For more information, contact your employer.
Adoption Foundations
National Adoption Foundation
The Foundation offers aid to families for expenses associated with the adoption and raising of children through Direct Grants
provided by The Foundation, our Adoption Credit Card, 529 college savings plans and Unsecured Loans at
http://www.nafadopt.org/how-we-can-help/how-we-can-help.shtml
A Child Waits Foundation
A Child Waits Foundation is a nonprofit charitable foundation formed in 1998. Our purpose 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 of adoption. By making low-
interest loans to prospective parents, A Child Waits Foundation is able to help change a child's future from one without hope and to
help fulfill a dream for many families. Currently the Foundation employs very few staff, therefore expenses are low and a large
portion of the Foundation's funds goes directly to prospective parents to help save children from a parentless life.
http://www.achildwaits.org/
JSW Adoption Foundation
A private foundation established to assist potential adoptive parents by providing cash grants to subsidize a portion of the adoption
expenses. Grants are awarded from $2,000 and up. Preference is given to childless applicants and those who are experiencing
extraordinary hardship and financial need. For further information, contact the JSW Adoption Foundation at 127 East Main Street,
Suite 5, Port Washington, WI, 53074, 262/268-1386, or view their website at http://www.jsw-adoption.org
God's Grace Adoption Ministry
Provides adoption grants and no-interest loans to eligible families. For more information, visit http://www.ggam.org
Home for Good Foundation
Offers resources, grants, loans and matching funds, focusing on adoption of older children, children with special needs and sibling
groups. For more information, visit the Home for Good http://www.hfgf.org
Acres of Hope
A non-profit charitable foundation dedicated to helping families with physically and emotionally challenged children.
http://www.acresofhope.com/foundation
Christian Adoption Resources, Inc.
Grant program available for Christian families who meet grant requirements.http://www.christianadoptionresources.org
Hebrew Free Loan Association
Offers interest-free loans for Jewish families adopting domestically or internationally.http://www.hflasf.org/adopt-loans
Loans, credit cards…
APF USA
A loan processing company which offers adoption loans. http://www.apfusa.com/adoption
MBNA
Offers unsecured loans specifically designed for adoptive parents. They may be contacted at 888/627-8767.
First Union Bank's Adoption Loan Program
Call (888) 314-5437 Available to residents of CT, DE, FL, GA, MD, NC, NJ, NY or VA.
Your Local Bank
Many banks are willing to offer equity loans for adoption purposes
| © 2008-2010 Sunshine International Adoption Agency,Inc . Updated: 01.04.2008 |
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