North Dakota Tax Credit

Looking to improve the quality of life for all of our state's citizens, North Dakota passed a law in 2011 that allows for generous tax credits for individuals and businesses who give specific types of gifts to North Dakota charities.  

North Dakota is one of only a few states which provide any type of income tax credit for charitable gifts. This bill created a 40% North Dakota income tax credit for gifts of $5,000 or more made by individuals, businesses, trusts and estates to any qualified ND Charitable Endowment fund*. The legislation allows for a maximum state tax credit of $10,000 for an individual or $20,000 for a married couple and may be carried forward for three years.

If a donor is in a 28% federal tax bracket, the tax benefit may look like this:

 
Gift Amount $5,000 $25,000 $50,000
Federal Tax Savings -$1,400 -$7,000 -$14,000
ND Tax Credit Amount -$2,000 -$10,000 -$20,000
Net Cost of Gift $1,600 $8,000 $16,000


You have worked hard, saved carefully and planned well. We encourage you to give a lasting charitable gift by creating a fund through the Minot Area Community Foundation.

The Foundation will create a permanent endowment fund in your name, grow it through investment and ensure your charitable intent is honored. Your generosity will have a lasting effect, be multiplied many times over and have a meaningful impact.


*Qualified endowment is defined as an "irrevocable fund held by a North Dakota incorporated or established organization that is a qualified nonprofit organization; or a bank or trust company holding the fund on behalf of a qualified nonprofit organization." The Uniform Management of Institutional Funds Act (NDCC 15-67) gives further guidance on the definition of endowment, stating that an endowment fund means a fund not wholly expendable by the nonprofit on a current basis under the terms of the applicable gift instrument or fund agreement.

 
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