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Adoption FINANCING
 

Financing your adoption may be easier than you think. Below are a list of resources available to adoptive families offering grants, adoption loans, tax benefits, and more. If you offer adoption financing services or wish to recommend a website, please send us an email.

The Internal Revenue Service offers a $10,000 tax credit towards adoption expenses. Download Publication 968 on Tax Benefits for Adoption. www.irs.gov/pub/irs-pdf/p968.pdf

Shaohannah's Hope is a Christian organization that offers up to $7,000 towards the cost of adopting. www.shaohannahshope.com

A Child Waits provides loans up to $10,000 for one child. They are interested in assisting families who can financially support a child and repay the loan, but who do not have the current funds to adopt. 1136 Barker Rd., Pittsfield, MA 01201. www.achildwaits.org

Advanced Patient Financing originally financed medical bills and have subsequently branched out into adoption. Contact: Jay Greenberg (800) 672-8690 www.advancedpatient.com

Christian Advocates for Adoption (CAFA)
Funding your adoption through CAFA is not by means of a grant, loan or gift from this ministry, but by inviting others to participate with you financially in this blessed event. Scriptures makes clear that it is more blessed to give than receive (Acts 20:35) and that when we give and sow we will in turn reap and be blessed (Luke 6:38; Gal. 6:7). By asking for support for your adoption you are opening a door of opportunity to others to participate in the cause of the fatherless. Working together will help you to raise up to one half of the cost of your adoption. Any funds raised beyond the goal will be used to further the ministry of CAFA and assist other orphans find their place in loving Christian families. For details, visit their web site at: www.cafadopt.org

The Boatner Family Foundation is a small foundation which provides grants from $1,000 to $10,000. Requirement include an agency approval, a financial statement, and a formal application. For more information, contact: The Boatner Foundation, P.O. Box 132272, The Woodlands, Texas 77393-2272

Capital One offers a credit card with a limit of up to $20,000 at a fixed rate of 9.9% over the long term (not just an introductory rate). www.222.capitalone.com

The National Adoption Foundation assists adoptive families with adoption financing. NAF offers grants from $500 to $4000 and unsecured loans through MBNA. www.nafadopt.org

Mother’s Love Fundraising
An adoptive mother is helping to plan fundraising events for prospective adoptive parents http://www.amotherslovefundraising.com

Additional Grants are available through the following organizations:

Gift of Adoption Fund http://www.giftofadoption.org
God's Grace Adoption Ministry http://www.ggam.org

The Hebrew Free Loan Association offers interest-free loans to Jewish families who wish to adopt children internationally or domestically. www.hflasf.org/adopt-loans.html

Adoption.com offers financing options through an online pre-qualification form. www.adoptionfinancing.com

Ask your employer about adoption benefits. Many companies offer adoption benefits including AARP, Abbott Laboratories, Aetna, Amoco, Bank of America, Bell Atlantic, Borden, Chase Manhattan, Chevron, Chrysler Corp, CIGNA, Coca Cola, Daimler Chrysler, Deloitte & Touche, Delta Airlines, Dominoes Pizza, Dow Chemical, Dupont Merck, Fidelity Invesments, Frito Lay, Glaxo Wellcome, Hasbro, HBO, IBM, KMart, Lexmark, Mattel, MBNA, Microsoft, Motorola, Nestle, Pepsi, State Farm, UPS, Wendy's, and many more. A more complete listing is available at www.adoptionbenefits.com

The National Endowment for Financial Education (NEFE) offers a FREE booklet entitled "How to Make Adoption an Affordable Option". This booklet provides information for all prospective adoptive parents regarding financial assistance, benefits and tax breaks for all types of adoptions. It also provides a breakdown of what fees may be involved in the adoption process. The booklet is available on the NEFE Web site at: http://www.nefe.org/adoption

Some states offer a non-recurring adoption expense reimbursement. Families may be able to apply for reimbursement of adoption related expenses. These expenses may include the homestudy fee, costs for travel to meet the child, attorney's fees, etc. Each State sets a cap for the maximum amount of reimbursement, which cannot exceed $2,000. You must apply for this benefit before your adoption is final.The North American Council on Adoptable Children offers information on state adoption subsidies. www.nacac.org/adoptionsubsidy.html


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