I hope you are well. You are receiving this email because your organization is eligible for ReFUND CO, or you signed up for ReFUND CO updates. As we come to the close of the income tax filing season, I wanted to update you.
When the world shut down in March, many nonprofits shut down. Perhaps you're included. Many had to cancel fundraisers. Nonprofits initiated rapid response appeals to donors, and many responded.
At the same time, nonprofits recognize that the pandemic affects the health and livelihood of their supporters. Nonprofit donor requests balanced their own funding needs with empathy for the financial insecurity of their donors.
Perhaps the COVID-19 world impacted your decision to promote ReFUND CO this year or your donors' decisions to give their refund. We plan to evaluate ReFUND CO's start-up more thoroughly later this year and will be in touch with you.
Nonprofits will continue to try different fundraising strategies and messages to navigate our ever-evolving COVID-19 world. For the next month, ReFUND CO is one fundraising opportunity for eligible nonprofits to consider.
COVID-19 hit just as tax season was reaching its peak. The shut-down caused the federal and state government to postpone the filing deadline from the traditional April 15 until July 15, 2020. Some taxpayers have yet to file.
If your organization is eligible, you have an opportunity to ask for donations through ReFUND CO and here are some essential things to consider:
- Even though the filing deadline is July 15, most Coloradans have already completed their income taxes. As of mid-May, about 450,000 returns were yet to be filed, which is about 15% of all returns.
- For a nonprofit to receive the ReFUND CO donation from the state this calendar year, the taxpayer must file on or before June 30. That's because the state's fiscal year ends June 30. Any donations on returns filed after June 30 will go to the designated nonprofit, but not until next year's distribution- 2021.
In summary, the group of potential donors is limited at this point, and your message must specifically note the June 30 deadline if you want donors to expect that you will receive the funds this year.
Many factors go into a decision whether to initiate or include ReFUND CO in your June fundraising appeals. You know your donors and your fundraising strategy. Whatever you decide, do what is best for you.