Give A Gift That Keeps On Giving -- And Saves You Tax Dollars - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Give A Gift That Keeps On Giving -- And Saves You Tax Dollars

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  North Dakota taxpayers -- and charitable endowment funds -- are missing out.

That's the message of community foundations across the state.  They're launching a joint effort to let you know you can donate to a charitable endowment fund -- and save money on your taxes in the process.

While North Dakota ranks 17th for adjusted gross income per tax return, it's 48th for average charitable giving per return.  They want you to know it doesn't have to be this way.  For example, a $5,000 gift can net nearly $4,000 in Federal and State tax savings -- depending on tax bracket.  This incentive is available in only a handful of States.

"In the wisdom of the North Dakota legislature, they, what they really have given us is, empowered charitable dollars to stay in their communities and continue to give forever," says Ken Kitzman, President, Minot Area Community Foundation.

"It makes a real difference in people's lives. It's just that people need to know about this and talk to their tax advisor and more non-profits across the state need to either establish an endowment fund or use the services of their community foundations," says Bill Gross, President/Founder, Farm Rescue.

Leaders say this is a way to keep money in the State, since under North Dakota law, a qualified endowment fund must have its business and location in North Dakota.  If you're uncertain whether your favorite charity is eligible, inquire with the group directly.  You can get more information at www.NDgives.com.  

 

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