North Dakota Tax Credit


North Dakota is one of only a few states which provide any type of income tax credit for charitable gifts. A 40% North Dakota income tax credit can be taken on contributions to qualified ND based charitable endowment funds. Contributions can be made by individuals, businesses, trusts or estates. The contribution must be a mimimum of $5,000. The maximum ND tax credit for single tax filers is $10,000, equal to 40% of a $25,000 contribution or $20,000 for a married couple, equal to 40% of a $50,000 contribution. The unused portion of the state income tax credit can be carried forward for three years. 

37% Marginal Tax Rate of Individual Return
Gift Amount:                         $25,000     $50,000
Est. Federal Tax Savings:    ($5,550)     ($11,100)
ND Income Tax Credit:         ($10,000)   ($20,000)
Net Cost of Contribution:      $9,450        $18,900


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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