The Montana Qualified Endowment Tax Credit allows donors to pay less in Montana state income taxes when they give a qualifying planned gift to a qualified Montana charitable endowment like the Sweet Grass Community Foundation’s permanent endowment fund.
An endowment is a fund held by a tax exempt organization where the principal of the fund is not wholly expendable. Only the interest and appreciation earned in an endowment fund can be used for current operations. Endowments are established to help Montanans meet long-term needs in our communities for education, social services, health care, economic development, the arts and more.
Individual Planned Gift:
Individuals who make a planned gift to a qualified Montana endowment fund will receive a tax credit of 40% of their gift, with a maximum credit of $10,000 ($20,000 for joint filers).
Business/Corporation Outright Gift:
Businesses and corporations that make a direct gift to a qualified Montana endowment fund will receive a tax credit of 20% of their gift, with a maximum credit of $10,000.
To learn more, visit the Montana Endow website: https://www.mtnonprofit.org/endow-montana/endowment-tax-credit-faq/