GRANT PROGRAMS

The Gift of Adoption Fund:  The Gift of Adoption Fund is a non-profit foundation.  Gift of Adoption Fund is established to assist adoptive parents by providing cash grants to subsidize a portion of the costs of adoption. Grants are awarded on a monthly basis with sums ranging from $2,000 to $5,000. The grants are available to single parents, families with previous children, and prospective adoptive parents who are adopting internationally, interpedently or through an agency. Applicants may apply up to three times.  www.giftofadoption.org

National Adoption Foundation:  This program is open to all legal adoptions of non-related children including private adoption, agency adoption, international adoption, or special needs adoption. There is a simple one page application to fill out and the primary requirement for eligibility is a home study (either completed or in process). The Foundation's board meets four times a year, during the last week of each quarter, to award grants in amounts ranging from $500 to $4000. www.nafadopt.org

God's Grace Adoption Ministry: God's Grace Adoption Ministry Inc. was established as a non-profit organization to help provide needy children of the world with Christian families by helping adoptive-parents overcome the financial burden of adopting children. It is the belief of GGAM that the placement of children into Christian homes ministers to a child's physical and spiritual well being. Depending on the individual family needs, financial assistance is available in the form of grants and interest free loans. www.ggam.org

Home for Good:  Home for good ministry focuses on adoption of older children, children with special needs and sibling groups.  They  offer resources, grants, loans and matching funds to encourage more families to adopt, and to ensure the success of those who undertake adoption.   www.hfgf.org

Shaohannah's Hope: Shaohannah's Hope is  dedicated to helping prospective adoptive parents overcome the financial barriers associated with adoption by awarding financial grants to qualified families already in the process of adopting. The size of the grant awarded is determined by several factors, the most important being need. www.shaohannahshope.org

TMG Foundation:  TMG Foundation encourages God’s people to adopt a child by relieving some of the financial burden of adoption. They  offer “Matching Grants” to help mobilize the Body of Christ (your church, family, and friends) to come alongside you and make an eternal investment in the life of an orphan child! They will match (dollar-for-dollar) the amount you raise up to a pre-determined amount.  www.tmgfoundation.org

LOAN PROGRAMS

While it's far from ideal to borrow money for an adoption, adoptive families may find a loan necessary to cover the large and immediate expenses.  In some cases, you may be able to pay the loan back quickly once you receive a tax credit or are reimbursed by your employer or the military.  The decision on whether to take out a loan to help pay for adoption expenses can be difficult and has serious consequences for the entire family.  It is important as adoptive parents to maintain financial stability when considering adoption.

Before you take a loan out from someone else, consider borrowing from yourself. Many company 401k plans allow employees to borrow up to 50 percent of their current 401k balance. The big advantage of this is that you are paying yourself interest. The downside is that if you change companies, you will be expected to pay off the loan or take the 10 percent tax penalty on the loan amount as an early withdrawal.

Another alternative to consider is a home equity loan. These are typically low interest loans that come with a check book you can use to write checks to pay your bills. The biggest advantage here is that interest from a home equity loan may be tax deductible. However, some financial advisors recommend using credit cards instead of home equity loans since credit cards are unsecured debt. If you get in trouble paying off a home equity loan, you could lose your house.

Most banks do not specifically offer adoption loans, but there are numerous organizations that do offer low- or no-interest loans for adoption.

National Adoption Foundation:  The National Adoption Foundation (NAF) helps adoptive parents with costs of adopting by providing financial support, information and services. One such program is the NAF Gold Option Loan. It's an unsecured loan that gives families an additional source of needed funds, without pledging their homes or other forms of collateral. NAF Gold Option Loan Combines the Best Features of an Installment Loan and a Revolving Line of Credit. Families may borrow the amount needed for now  ranging from $1500-$30,000 (with no collateral required). The loan currently has an Annual Percentage Rate as low as 12.99% and your choice of fixed monthly payments.   www.nafadopt.org

A Child Waits Foundation:  A Child Waits Foundation is a nonprofit charitable foundation with a simple goal – to reduce the number of children who are not adopted because prospective parents do not have the savings to pay for the total cost of the adoption.  They help parents with their cost by making low interest loans that cover a portion of the adoption fees. www.achildwaits.org

Oxford Adoption Foundation, Inc:  Oxford Adoption Foundation provides low interest loans for families who have exhausted other financial options.  They  limit the loan to a maximum of $10,000 (typically $5,000 per adopted child) and provide essentially the final amount of money which is needed for the adoption process. www.oxfordadoption.com

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.  www.abbafund.org

REIMBURSEMENT PROGRAMS

Employer Adoption Benefits:  Many employers provide their employees with adoption benefits, such as paid leave, unpaid leave, or adoption reimbursements.  A list of employers offering benefits can be found at the website www.adoptionbenefits.com or  www.adoptionfriendlyworkplace.org.  If your employer does not have this benefit, call Adoption and the Workplace at the National Adoption Center (1-800-862-3678) for materials to guide you in requesting adoption assistance from your employer. 

The FMLA (Family Medical Leave Act of 1993) gives an employee the right to take a leave of absence for family and medical reasons. It requires employers with 50 or more employees to provide 12 weeks of unpaid leave and a continuation of benefits without jeopardizing employment.

Military Adoption Benefits:  Within this program, the military will reimburse active-duty personnel for most one-time adoption costs up to $2000 per child, whether adopting a healthy infant, a waiting child, or a child from abroad. Travel costs, foreign or domestic, are not covered. There is a maximum of $5000 in a given year, even if both parents are in the military. Reimbursement is made only after the adoption is final.

Adoption Tax Credit: You may be able to take a tax credit of up to $10,160 for qualifying expenses paid to adopt an eligible child (including a child with special needs). The adoption credit is an amount subtracted from your tax liability. Although the credit generally is allowed for the year following the year in which the expenses are paid, a taxpayer who paid qualifying expenses in 2003 for an adoption which became final in 2003, may be eligible to claim the credit on the 2003 return [i.e., The adoption credit is not available for any reimbursed expense.]. However, in addition to the credit, up to $10,160 paid or reimbursed through the year 2003 by your employer for qualifying adoption expenses may be excludable from your gross income. The Internal Revenue Publication #968, "Tax Benefits for Adoption", is included in our informational packet.   Prospective adoptive parents should check with their tax advisors regarding their eligibility for this incredible credit. 

FUNDRAISING & FOUNDATIONS

There are many ways to fund your adoption. Financing is just one of them. You may decide to do some fundraising activities to help fund your adoption. If you do, these websites can help.

Child Adoption Funds helps families establish a foundation under The National Heritage Foundation. Having a foundation allows family, friends, and employers to make a tax-deductible donation. Money from your fundraising efforts can be made payable to your foundation.  
Website: www.childadoptionfunds.org

A Child's Desire has two wonderful fundraisers that adopting families can use to earn money for their own adoptions. Selling magazine subscriptions through their link and  Providing safety ID cards for children in your local area.  www.achildsdesire.org

A Mothers Love:  The mission of A Mothers Love is  to assist people with the hardship of paying for Adoptions and Infertility.  The way the fundraising works is simple.  You would pass catalogs and fundraising flyers around to family, friends, coworkers and neighbors.  Please note anyone can assist you with your fundraiser. Family and friends can distribute your fundraiser at their place of employment even if they live in another state.  All orders are sent to A Mothers Love for processing.   Shortly after your products are delivered, your profit checks will be sent under separate cover.  All profit checks are issued directly by A Mother's Love, with the exception of Tupperware and Pampered  www.amotherslovefundrasing.com 

Current Fundraiser:  Current Fundraiser is a well-known and reliable fundraising company.  They understand how busy life can be, so they have put together an amazingly easy way to raise funds by earning a 50% profit with gift wrap, greeting cards, magazines, candy, & gifts. You can sell through the catalog they supply or use the internet and let your family and friends order on line. www.currentfun.com

Compassionate Care Disclaimer:   
The above web-sites and information are provided for you as a courtesy from Compassionate Care. The  above web-sites are for  you to research on your own and decide  if what they have to offer is right for you. Compassionate Care will not be held responsible for any  misrepresentation that any of the above web-sites may or may not  include within their web-site.