A new Maryland state tax credit called Endow Maryland will reward donors who help build permanent charitable funds for local communities across the state—and right here in Montgomery and Prince George’s Counties. Starting in 2015, Endow Maryland offers a tax credit for gifts of at least $500 to permanent, endowed funds at qualified community foundations in Maryland.
Endow Maryland provides an incentive for Marylanders to give back to their local communities in a meaningful and lasting way. It promotes charitable giving in Maryland, for Maryland.
Here at The Community Foundation for the National Capital Region, Endow Maryland will help build our endowments in Montgomery and Prince George’s, which work to assist every resident of these counties in achieving economic security – by strengthening the safety net to meet basic human needs, connecting our youth to opportunities to succeed, and helping workers gain the skills and credentials they need to thrive in our region’s economy.
Tax credits have been awarded to community foundations across the state to offer to donors – your gift to The Community Foundation may qualify for a 25% tax credit on your 2015 tax return.
The Endow Maryland tax credit applies only to gifts to permanent, endowed funds at qualified Maryland community foundations. These gifts will generate many times the initial value of the gift in benefit to the community.
➤ Tax credits are only available for new contributions directly into one of our permanently endowed fund. i.e. a grant from your fund/foundation or IRA charitable rollover would not be eligible.
➤ Contributions may be made in the form of a personal check or stock gift.
➤ There are a limited number of Endow Maryland Tax credits to share for the entire state. Contact our staff to confirm that tax credits are still available for this tax year.
HOW TO APPLY
Please first contact our staff to confirm that tax credits are still available for this year. Once confirmed, please submit a signed copy of this Endow MD Commitment form along with your gift.
Montgomery County endowment, Sharing Montgomery, contact Anna Hargrave at firstname.lastname@example.org , or 301-495-3036 ext.161
Prince George’s County endowment, Sharing Prince George’s, contact Desiree Griffin-Moore at email@example.com or 301-918-8480 ext. 163