Financing an Adoption

One of the few posts that I repeat and supplement on this site is a list of resources that might help couples to finance an adoption. The reason is that adoptions are very expensive--often $15,000+ for a domestic adoption and $25,000+ for an international adoption; therefore finances are a major factor in preventing couples from adopting.

Here are some resources that may be of assistance:

1. The ABBA Fund provides interest-free "covenant loans" for adoptive families:

The couple must be committed to raising their children in accordance with Scriptural principles. 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. Loans provided by The ABBA Fund are interest free. Couples seeking assistance must complete an application, and submit it with a copy of their completed home study and a list of references.

. . . We believe that the best environment for the raising and training of children is in a godly home with a father and mother. The ABBA Fund provides interest-free covenant loans to Christian couples who are called by God to expand their families through adoption and who need help with the “cash flow crunch” posed by adoption expenses.

You can read their FAQs, apply, or donate.

2. Shaohannah's Hope is an adoption ministry begun by Steven Curtis Chapman and his wife. They offer adoption grants (averaging between $2,500 and $4,000). You can apply for a grant,
or donate in various ways.

3. The National Council For Adoption and Bank of America have partnered together for an Adoption Line of Credit.

4. A Child Waits Foundation provides "low interest loans for families who have exhausted other financial options and could not proceed with their adoption without our help."

5. The Federal government allows adoptive families to claim up to $10,960 in adoption expenses as a tax credit. (I believe this has gone up to $11,390 for 2007.) This can only start in the year that the adoption was finalized (not in the year that the adoption process began). For an overview and links to forms, see here.

6. Some states offer an additional $2,000 in financial assistance for qualifying couples: Alabama, Alaska, Hawaii, Idaho, Iowa, Kansas, Kentucky, Maryland, Mississippi, Missouri, Nebraska, Ohio, Oklahoma, Utah, Vermont.

7. About one-quarter of employers now offer some form of benefits for employees who choose to adopt. The average expense reimbursement is $4,000. The Adoption Friendly Workplace Program is an advocate for such benefits, pointing out some of the advantages:

• To increase employee loyalty and retention
• For a competitive edge in recruiting new employees
• To make a low cost addition to their work-life packages (adoption benefits are generally used by less than 1% of eligible employees)

8. Consider how your church might become involved in various ways. FamilyLife.com has resources on how to start and grown an orphans ministry at your church.

Feel free to leave your own suggestions in the comments below!