WAYS TO GIVE…

Contributions to the Greater Glendive Community Foundation are deductible for income, estate and gift tax purposes. Planned gifts like deferred gift annuities also offer Montana Tax Credits.

Outright cash — gifts of cash or securities.
Memorial gifts — to memorialize relatives and friends.
Honor gifts — to honor the achievements of relatives and friends.
Deferred gifts — estate bequests, trusts or life insurance policies.
Gifts that provide income (charitable gift annuity or deferred gift annuity).
Special gifts — money to support a special area, charity or project (after foundation over $25,000).

Online donations are accepted through the Montana Community Foundation.

For more information on any of these topics please contact members of the GGCF Board of Directors or your tax advisor.

…BACK TO THE COMMUNITY

Tax deductible donations give back to the community as donations are invested and your legacy lives on.

Your financial gifts or assets allow the Greater Glendive Community Foundation Board to provide grants to community projects from applications across Dawson County.

A conflict of interest clause prevents board members involved with specific projects from voting or using personal influence in the grant selection. Planned gifts like charitable gift annuities can help provide financial security for you and your family, generous tax savings — plus help your community.

WHAT IS AN ENDOWMENT?

An endowment is a tax-favored charitable fund that is designed to last forever. The principal amount of the fund — your charitable gift — is prudently invested and preserved. As investment earnings accumulate, grants are made to nonprofits in Dawson County. Usually a portion of the investment earnings are retained and added to the principal, causing the balance of the endowment fund to actually grow over time.

MONTANA ENDOWMENT TAX CREDIT

The Montana Endowment Tax Credit allows donors to pay less in Montana state income taxes when they give a qualifying planned gift to a qualified Montana charitable endowment. The incentive is 40% of the value of the gift, up to a maximum $10,000 tax credit in one year, and a credit of 20% of a direct gift (check) by a qualified business, up to a maximum of $10,000 in one year.

Example: A donor, 65, purchases a $10,000 charitable gift annuity with a certificate of deposit that has matured. As income beneficiary, the donor will receive 6.0% or $600 per year for life. The donor names the Greater Glendive Community Foundation as the remainder beneficiary of the annuity.

Therefore, the donor is eligible for the Montana Endowment Tax Credit. the federal charitable deduction for the gift is $3,553 and the qualifying amount of the Montana Endowment Tax Credit is $1,421 or 40% of the present value of the planned gift.

Contact:
Cathy Cooney, Program Director
ccooney@mtcf.org
406-443-8313 ext. 108
www.mtcf.org