Adopt A Child

Financial Matters

We find that one of the biggest hurdles people have to overcome when adopting is the financial hurdle. Below you will find many ideas and resources. We hope they will help you. If you have further ideas or things that worked for you please let us know.

The biggest help is from the Federal government and it comes in the form of a tax credit. We recommend that you talk to your tax preparer about the details, but here is a quick overview.

There are several resources out there that offer grants and loans for families adopting. Here is information about some of them:

1. The National Adoption Foundation makes low interest loans to adoptive parents. Call (800) 448-7061 to find out details about that program.⁽¹⁾

2. A Child Waits Foundation also gives low interest loans. Call them at (413) 499-3992.⁽¹⁾

3. Here is a link to a list of resources to assist financially.⁽¹⁾

Many employers offer adoption benefits. Please check with your human resources department to see if they do. If they do not, you can e-mail us for a proposal to make the case for them offering this benefit.

In addition to the Internal Revenue Service adoption tax credit mentioned above, some adoptive parents have secured funds by

• borrowing from a 401-K plan (if available, such loans will generally have a moderate rate of interest);

• having yard sales;

• some counties and states give grants;

• receiving adoption benefits from work (if your company does not give benefits for adoption, we have information for you to propose it to them);

• getting help from family and/or friends;

• getting help from a church;

• taking out a mortgage; and

• signature loans at a bank

If you own an S corporation, ask your accountant if you can give yourself, as an employee, adoption benefits.

Please know that the most important thing is to trust God will provide a way. Philippians says, "He who has begun a good work in you will complete it " We believe that for you as well.

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¹ AHH does not warrant the National Adoption Foundation or A Child Waits Foundation program or any of the infomation on other referred sites; we just make it known to you.