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Guide and resources:
Adoption Financing
National
Adoption Foundation, the country's only national
nonprofit organization dedicated to providing financial
support, information, and services for adoptive and prospective
adoptive families, has recently expanded their programs
to include home equity loans, as well as unsecured loans
and grants for adoption expenses. There is also a limited
grant program. For information, or to request a brochure,
call 203/791-3811 or write National Adoption Foundation.
Families can apply for outright grants from the Foundation.
The grant program is open to all legal adoptions including
public or private agency adptions, international, special
needs or adoptons facilitated by an attorney. There is no
income requirement. There is a simple one page application
and the only requirement to apply is a home study, or one
in progress. 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 $2,500.
NAF looked for other ways to provide assistance. The foundation
has developed partnerships in the private sector with Corporations
committed to promoting the interests of adoptive families,
and has an almost unlimited capacity to extend other financial
services to augment its grant making.
http://www.nafadopt.org/NAFPrograms.htm
The Price of Parenthood: Financing Adption The Price of
Parenthood: Financing
Adoption. This is the second in a two-part series
that examines.
adoptionblogs.typepad.com/adoption/financing_fertility
Funding
Your Adoption. Coming up with the money to adopt
can be tricky. Whether you agree with it or not, there is
always a fee. Some countries are less expensive than others
and some agencies are more expensive than others. This is
free and can be read online. MBNA offers unsecured loans
and fiancing specifically designed for adoptive. U.S. Bank
also offers adoption financing. If you pay US taxes, the
current adoption tax CREDIT is $5000 per child. The tax
credit increases to $10,000 on December 31, 2001. Here's
some more info on the tax credit and here. Grants are awarded
from $2,000 and up. Preference is given to childless applicants
and those who are experiencing extraordinary hardship and
financial need, aoption, doption, adopion, adoptoin.
www.precious.org/trinettes-adoption-financing-page.htm
As parents-to-be research adoption specialists, they should
ask to see the payment schedule. Adoption professionals
often charge drastically different fees for the same services,
and many offer a sliding scale based on a parent’s
income. Most stagger fee payments, with the bulk of the
money due right before the placement is completed. Some
agencies partner with financial institutions to offer adoption
loans or lines of credit. Others, such as Antioch Adoptions
in Redmond, Wash., tout “no fee” adoptions. Antioch’s
adoptive families give back to the Christian ministry through
donating their time, talents and financial resources. The
primary workplace benefit offered to adoptive families is
the Federal Adoption Tax Credit, which credits up to $10,160
for adoption expenses, finacing. The amount of the credit
is gradually reduced as family income rises above $152,390.
Other workplace incentives include unpaid parental leave
and military subsidies (see sidebar for details).
www.preconception.com/resources/articles/priceofadoption.htm
See:
• Unclaimed
Money
• Patient Financing
• Grants
• How
to Shop for a Credit Card
Releases, press and news information online fiancing resources.
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