When people find out we’ve adopted, one of the main questions we get is about funding. How did we afford it and how can they (or someone they know) afford it? First of all, we afforded our adoption because God provided in amazing ways. If you haven’t read our story, you can read it here. Second, I am by no means an expert on raising funds for an adoption, but over the last few years, I have encountered some amazing resources and ideas, so I thought I would share some with you today!
The first thing you need to know about is the Adoption Tax Credit. This is a tax credit of up to $12,970 for eligible adoption expenses. It will only refund or cover up to your tax liability, but it can carry forward for up to 5 years. More information can be found here: http://www.irs.gov/taxtopics/tc607.html
The tax credit can be an incredible help. However, you still have to have the money upfront, which many of us do not have, but there is hope! There are grants available, interest free loans, possible employer assistance (only certain companies offer this), and you can always fundraise!
One of the first resources that I would recommend is Adopt without Debt:Creative Ways to Cover the Cost of Adoption by Julie Gumm. Her blog also some great fundraising ideas: http://juliegumm.com/page/6/?cat=18
Here are some other great websites that offer great ideas or point you to funding help:
General Overview of Grants, Loans, and Scholarships:http://www.bethany.org/assets/guides/Adoption-Financial-Resources.pdf
(please note this is not an endorsement of Bethany Christian Adoptions – I haven’t had any experience with them)
Adoption Essay Contest: http://www.adoptiongrant.net/
A fellow adoptive Mom put together a list of “The Ultimate List of Adoption Fundraisers” and it really is the ultimate list: http://www.walkingbytheway.com/blog/the-ultimate-list-of-adoption-fundraisers/
Adoption Fundraising Advice from a fellow adoptive mom: http://www.addingaburden.com/2012/08/adoption-fundraising-advice.html
Another all-inclusive list of ways to fund your adoption: http://www.myadoptionadvisor.com/how-to-afford-adoption/
These resources can be overwhelming! Please take this journey one step at a time and pray about what the best options are for you and your family! This is a reminder I need constantly. I am a control-freak and love to take the bull by the horns, diving in, picking the fundraisers that I think would be best for us, without seeking God out and asking Him what He would like us to do and when He just wants us to wait on Him. Remember that if God has called you to adopt, He will provide the funding! He is our provider!