What is the Adoption Assistance Fund and how does it work?
Love Basket wants to encourage families to adopt children and especially children with special needs, regardless of their ability to pay.  The agency receives donations for the Adoption Assistance Fund, and we are thus able to assist families with some of their adoption expenses.

The Adoption Assistance Fund was designed to enable families to adopt hard-to-place children, which include older children, sibling groups, and children with disabilities, etc.  It was also designed to assist families who might otherwise find it difficult to adopt due to the costs involved.  While preference is given to families adopting children with special needs, consideration is also given to families with a need for financial assistance who are adopting young, healthy children as well.

Decisions regarding financial assistance to a family, and the amount of any assistance are made by Love Basket’s Adoption Assistance Committee and are based on the availability of funds, the family’s size, income and assets as well as the difficulty of finding a family for a particular child.  Materials reviewed from the child’s perspective might include medical, social and other background information that may be available.  For some, consideration would have to wait until after child assignment, since any special needs of the child would be a factor taken into consideration as well.  Grants (or a reduction in fees) of up to several thousand dollars may be available for qualifying situations.

What other financial assistance may be available?
There is currently a substantial Federal Adoption Tax credit available for adoptive parents.  Please consult your tax attorney, accountant, or IRS guidelines for further information.  (As an adoption agency, we are not qualified in the field of tax law and/or tax preparation).

Some states, such as Missouri, offer a State Adoption Tax Credit as well – again, please consult your tax preparer for further details.

Minority children born in Missouri, and some other states, may be eligible for an adoption subsidy.  Application for a subsidy must be submitted to the concerned state before the adoption is finalized.

Your state of residence may also have a program that can help you.  Be sure to ask your Home Study provider (if Love Basket is not performing your home study).  You might also want to check with your employer to see if your company offers any financial assistance with adoption-related expenses.

Love Basket Inc. 10306 Business 21 Hillsboro, MO 63050
Phone 636.797.4100 Fax 636.789.4978 Info@LoveBasket.org

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