Dear Adopting Parents:
We know that the expense of adoption is the largest single factor that prevents loving people from adopting a child. Sadly, the adoption process has tremendous costs and Lynn and I wish that it was more affordable. Hopefully this information will help you make a financial plan to facilitate your adoption. This is our non-profit ministry and we love our labor of blessing adopting parents with precious children! We attempt to keep our prices as low as possible to help you adopt a child. Please call us to discuss your adoption options and to receive a complete and detailed financial disclosure that itemizes all of the scheduled and possible adoption expenses and the payment schedule. We will do our best to work with you to make your dream come true.
Your friends in adoption,
Dr. Ken and Lynn Brown
Tax Benefits (click here)
Federal Adoption Tax Credit: The federal government now offers an adoption tax credit of over $12,000 to all adoptive families on qualifying expenses paid for a child's adoption. This tax credit is more valuable than a tax deduction because allowable expenses are subtracted dollar for dollar against your tax liability. Please IRS Form #8839 - Qualified Adoption Expenses at http://tax-credit.adoption.com.
Dependency Exemption: Adoptive parents may take the same dependency exemption on their income taxes for their adopted children, and children placed with them for adoption but not yet finalized, as they would for their biological children. The exemption reduces their taxable income. The amount of the dependent exemption is adjusted annually to reflect the cost of living. The main point to remember is that families must provide more than half of their children's support to list them as exemptions. Some adopted children come with subsidies, which may provide more than half of their support. For example, if a child receives $5,000 a year in subsidies, the adoptive family must provide $5,001 or more a year to claim the child as an exemption.
State Tax Credit/Adoption Subsidies: Many states offer a tax credit or subsidy in addition to the federal tax credit. Ask your tax preparer about possible tax credits and/or tax deductions available to you from the state in which you are residing. See if your state of residence provides subsidies for special needs adoption from abroad. You can also ask your home study representative or a social worker about possible credits given by your state.
Loans (click here)
You can try to contact Nations Bank at (800) 448-7061, MBNA (800) 314-5437, First Union Bank in Washington D.C. or any other bank for information if a loan program is available for prospective adoptive families.
The National Adoption Foundation:
The National Adoption Foundation has an unsecured low-interest loan program that gives families, whether renters or homeowners, an additional source of needed funds without pledging their homes or other forms of collateral. Apply online or download application from the NAF site or call 1-866-219-5657.
The ABBA Fund
The ABBA Fund The ABBA Fund provides financial assistance to Christian couples who need help with the "cash flow crunch" posed by adoption expenses. Adopting couples may request financial assistance in any amount, based upon their needs. The couple will enter into a covenant agreement with The ABBA Fund whereby the couple agrees to reimburse The ABBA Fund in manageable monthly payments. Financial assistance provided by The ABBA Fund is interest free. Couples seeking assistance must complete an application, and assistance will be provided by The ABBA Fund in stages as the adoption process moves along.
A Child Waits Foundation
A Child Waits Foundation provides low interest loans for families who do not have any other option than to request a loan in order to proceed with international adoption.
Hebrew Free Loan Association
Hebrew Free Loan Association offers adoption loans (interest free) to Jewish families who demonstrate financial need and strong desire to adopt a child.
Funds 4 Families
Please call (800) 451-3372 to find out more about home loans such as home equity plans, debt consolidation plans and refinancing plans. Also you can consult your bank or other current mortgage lender and a tax person regarding some tax benefits of the possible loans.
Grants (click here)
Getting a grant is not an automatic or easy process, as each foundation has their own requirements based on financial need, infertility, religion, background, marital status and age etc. for the reward. Many of our families have researched this on the internet, made applications to the foundations that fit their circumstances, and then have had their adoptions subsidized by these wonderful benefactors. We hope that it works for you as well!
The National Adoption Foundation:
National Adoption Program makes quarterly grants ranging from $500 to $4,000 to adopting parents. There is no income requirement. There is a simple one-page application and the only requirement to apply is a home study, or one in progress. Contact them at (203) 791-3811.
Bright Futures Adoption Assistance Foundation:
The Bright Futures foundation helps orphans find forever families by providing small grants to prospective adoptive parents.
United Way International:
United Way International provides assistance for costs of travel for children adopted with illness needing immediate medical attention. Applications are selectively considered and must be supported with a doctor's statement.
A Mothers Love Fund Raising:
An adoptive mother is helping to plan fundraising events for prospective adoptive parents.
Community Fundraisers Prospective Adoptive Families can address their need for help to their churches and other civic community organizations in their local area.
Child Adoption Funds:
Information on creating a tax-exempt entity that can reduce your family's adoption expenses by 15-40%.
Gift of Adoption Fund:
Grants ranging from $2,000 to $5,000 are available monthly to families adopting children with serious medical issues and for low-income families.
Adoption assistance is sometimes available for eligible university employees from certain universities and teachers from some educational institution, and your request does not have to be based on a financial need.
Ask your employer if they can help with adoption expenses. Or call the Workplace at the National Adoption Center at (800) 862-3678 to find out how to request this help from your employer.
Adoption Assistance Benefits Program:
Many employers will help with costs by reimbursing adoption expenses with a cash benefit of up to $4,000 dollars. If your employer does not offer this benefit, call Adoption and the Workplace at the National Adoption Center (800-862-3678) for materials to guide you in requesting adoption assistance from your employer.
Federal Employees Adoption Benefits:
Many non-cash assistance benefits are available to federal employees to make the adoption process easier like extended sick and family leaves to be used for travel, court hearings, and other adoption proceedings.
Military Adoption Reimbursement Program:
Military non-recurring subsidy program is a one-time subsidy program for full-time military personnel. Adopting couples or singles can receive up to $2,000 reimbursement on adoption expenses for one child or a maximum amount of $5,000 for siblings or two children whether adopting a healthy infant, a waiting child, or a child from abroad. Travel costs, foreign or domestic, are not covered. Reimbursement is made ONLY after the adoption is finalized and only if the adoption was done through a state adoption agency or a non-profit private agency. Eligible personnel should complete DD Form 2673 (Reimbursement For Adoption Expense). Please see Defense Finances and Accounting Service Instruction 1341 for more information. For more information about adoption for military families you may contact the National Military Family Association at www.nmfa.org
It is the mission of HOPE FOR FAMILIES ADOPTION HOME STUDY Agency to fully inform you so that you can make the best adoption choices for your vision of family and life circumstances. After considering the previous information, please request information or ask us specific adoption questions by clicking on the link below so we can help you
There is Hope For Families!
Thank You and please feel free to Contact Us by Email or
call at (772) 429-3334 or TOLL FREE (866) 773-3334
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