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CONTRIBUTE
TO OUR ENDOWMENT
How to Pay Less State Income
Tax and Give More to Montana Public Radio !
A permanent, irrevocable endowment was established for Montana
Public Radio in 1995. The value of our endowment is close
to $100,000, and revenue earned on the monies invested is
being added to the principal to help this fund grow. Montana
Public Radio is now actively seeking donations to this endowment
fund. While the principal invested will never be spent, income
earned from the fund will be important to us in the future
for needs such as new technology or upgrading equipment.
Montana State Income Tax Credit is available for planned gifts
to the Montana Public Radio permanent endowment fund.
This tax credit allows donors to pay less in Montana income
taxes by giving a qualifying planned gift to the Montana Public
Radio endowment. The State of Montana Tax Credit incentive
is authorized through 2007. Highlights of the incentive are:
Now through December 2007
- Individuals can claim a credit of 40% of qualifying
contributions, up to a maximum of $10,000 per year. (Example:
a planned gift of $10,000 to the Montana Public Radio Endowment
can result in a $4,000 tax credit for the donor.)
- An Estate, or C Corporation, Sub-chapter S Corporation,
Partnership, or Limited Liability Company can also claim a
credit up to 20% of qualifying contributions, up to $10,000
per year.
Qualifying contributions are irrevocable planned gifts to
a qualified endowment, like the Montana Public Radio endowment.
Unlike your annual pledge during Public Radio Week, a planned
gift makes a permanent commitment of a principal asset, such
as life insurance or property, for the future benefit of Montana
Public Radio. When you make such a gift, you may retain the
use of the asset during your lifetime.
Although this tax credit encourages individuals to make substantial
charitable commitments now for the future of Montana Public
Radio, it is not simply for the wealthy. It is also a way
for Montanans of more modest means to save money on their
state income taxes, while providing for themselves and also
benefiting Montana Public Radio.
A Montana taxpayer may take a tax credit or a tax-deduction
for the amount being claimed, but not both. The credit must
be applied to the tax year in which the contribution is made.
No carry-back or carry-forward of the credit is permitted.
Donors, whether individual or corporate, who wish to use the
tax credit to build the Montana Public Radio endowment and
reduce their tax bills will want to discuss its potential
benefits with their financial advisors. The Montana Public
Radio endowment is held and administered for us by The University
of Montana Foundation.
A Planned Giving Specialist from the UM Foundation is also
available to help donors and their financial advisors determine
what type of planned gift would be best for their particular
financial situation.
To discuss making a gift to the Montana Public Radio endowment,
contact Kay Wilson, Development Director, 406-243-4214 or
800-325-1565. |
