Home At Last Adoption

Financial Resources For Adoption

Adoption Loans: MBNA Bank offers low interest, unsecured loans to adoptive parents as well as a credit card. Call 866-219-5657.

Adoption Tax Credit: (2010)

For the tax year 2010, the maximum adoption tax credit is $13,170 per child for qualified adoption expenses. The tax credit phase-out began for taxpayers with a modified adjusted gross income (AGI) in excess of $182,520, and was completely phased out for taxpayers with a modified AGI of $222,520 or higher.
You will need to fill out Form 8839 Qualified Adoption Expenses
The IRS tax topic can be viewed at http://www.irs.gov/taxtopics/tc607.html

Employee Benefit Programs: Roughly 25% of the nation's employers offer some form of adoption benefits to their employees. Benefits may include:

Reimbursement of $2,000 to $10,000 for specific adoption expenses
Paid leave, in addition to vacation time, sick leave, or personal days
Unpaid leave for personal, medical or child care lasting from 3 to 12 months
Medical expenses of the birth mother
Seminars, classes, and/or counseling and support before and after placement

Even if your employer does not currently offer adoption benefits, ask about their availability. You may be able to persuade your company to begin offering them. For more information about employer benefits, including materials to help you request that your employer establish a program, contact the National Adoption Center at 1-800-TO-ADOPT or contact your corporate human resource department about the availability of benefits.

Financial Assistance Programs:

Adoptive Family Assistance Fund
The Home At Last Adoption Agency Board of Directors started a fund to assist prospective adoptive families with the cost of adoption. Prospective adoptive families that are having a difficult time paying for the cost of adoption can request a grant application by contacting the Home At Last office at (321) 868-2229.

A Child Waits Foundation
Offers loans and grants to adoptive parents adopting internationally.
www.achildwaits.org

National Adoption Foundation
Offers grants to adoptive parents on a quarterly basis as well as low interest unsecured loans.
www.nafadopt.org

Gift of Adoption Fund
Grants of up to $5,000 are awarded as the final amount needed. Apply after you have attempted to secure additional resources for the adoption.
www.giftofadoption.org

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