This short video breaks down how you can give to a permanent endowment fund and receive a meaningful credit on your Montana state taxes.
A Smarter Way to Give
Learn how your gift can support long-term impact while offering meaningful tax advantages.
History
Originally enacted in 1997 as the Montana Income Tax Credit for Endowed Philanthropy, (now called the Qualifed Endowment Credit) encourages charitable giving to qualified endowments by offering incentives to Montana taxpayers.
How It Works
The Montana Qualified Endowment 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 Whitefish Community Foundation’s permanent endowment fund or any of the nonprofit endowment funds held by Whitefish Community Foundation.
View Nonprofit Endowment FundsEndowments
An endowment is a fund held by a tax-exempt organization where the principal is preserved, and only the earnings are used to support ongoing operations. Endowments provide long-term funding for community needs like education, health care, and the arts.
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Additional Information & Resources
Individual Planned Gift:
Individuals who make a planned gift to a qualified Montana endowment fund will receive a Montana tax credit of 40% of their gift, with a maximum credit of $15,000 ($30,000 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 $15,000. [Applies to corporations, small business corporations, partnership or limited liability company taxpayers.]
Montana Code Annotated
- Definition of a Planned Gift 15-30-2327(1) MCA
- Definition of a Qualified Endowment 15-30-2327(2) MCA
- Defining the Tax Credit for Planned Gifts 15-30-2328 MCA
- Defining the Tax Credit for Outright Gifts by Business Entities 15-31-161 and 15-31-162 MCA
- Charitable Gift Annuity Exemption Act 33-20-701 thru 705 MCA
- Uniform Prudent Management of Institutional Funds Act 72-30-101 thru 103 and 72-30-107 thru 213 MCA
Ready to Make an Impact?
We make it easy for you to connect with nonprofits and make an impact where it is needed most.
Email our Chief Development Officer, Lynnette Donaldson, today or call us at (406) 863-1781.