Financing an Adoption
Adoption Tax Credit
In 2003 The federal government (Internal Revenue Service)
began offering a tax credit to families to help offset
adoption expenses. This credit is applicable to both
domestic and international adoptions, and is taken in
the year the adoption is finalized. For more information about this
benefit, visit the IRS website and read Topic 607 - Adoption Credit.
Grants and Financial Assistance
Family Resource Center is pleased to be able to offer
child-specific grants to those adopting though our African-American
Program. We also have financial assistance available
to families who might not otherwise be able to afford
adoption. Please call us on (773) 334-2300 to learn more about our financial aid options.
Many companies offer adoption assistance programs (AAPs)
to employees as part of their benefits package. The
adoption stipend, designed to cover some or all of your
adoption expenses, often comes under the company's
maternity benefits. Contact your benefits advisor or
Human Resource Department and ask if they provide financial
support for adoption.