MT Endowment Tax Credit
Every man shall give as he is able,
according to the blessing of the Lord your God which He has given you.
– Deuteronomy 16:17
Average Annuity Gift in 2021
Average MT Tax Credit per Annuity Gifts in 2021
MT Tax Credits Saved by Annuity Gifts to the Foundation in 2021
Your gift to your parish could give you 40% in tax credits
Imagine if you gave a gift, and nearly half was returned to you via tax credits. Would it change the way you give? Montana is a unique state, committed to giving back to its nonprofits through the Montana Endowment Tax Credit. This piece of our tax code allows you to give to an endowment through a planned gift (charitable annuity), and then be able to claim a tax credit of 40% of the total charitable gift. THAT’S AMAZING!
The second and most beautiful part, is that the gift you give through an annuity will continue to pay annually to the parish or ministry you are passionate about IN PERPETUITY! It is literally the gift that keeps on giving long after you have entered the pearly gates. This type of gift recognizes that there will be times of feasting, and times of famine in the future of the Church, but your gift to Her will remain a constant. What if we all built up our parish endowments in this way? What would be possible?
Below is an example of how a gift through an annuity could benefit you and your Church.
Donate appreciated stock and your tax savings in capital gains could be even more! The Foundation is able to accept donations of cash, stock, real property, grain, cattle and mineral rights. Reach out to us if you would like to create a charitable annuity or discuss your options.
* This is a tax illustration. You should always consult your tax advisor to understand how this credit could best assist with your tax situation. Each household is eligible for up to $10,000 Montana tax credit per spouse ($20,000 total). If you gift stock with significant gains, it could produce even more savings! The Montana Endowment Tax Credit is only available in the year of the gift, and cannot be carried forward.