The oil boom in the MonDak area has given our area an economic boost and the lowest unemployment rate in America. Montana is one of the few states in the country to offer a state tax credit to individuals or businesses that make endowment gifts to in-state charities or foundations like the Foundation for Community Care.
These credits are especially popular in rural states and in states with plenty of natural resources. Three other states with endowment credits are Iowa, Kentucky, and North Dakota, and community funds in Minnesota are lobbying for them now.
The tax credit is a way to ensure some of the profits on the state's oil, gas, or coal end up in endowments that will permanently help foundations and other charities. The tax incentives are also a way to help keep family wealth in-state, rather than watching it migrate away as younger residents move to urban areas, taking their inheritance with them.
The 40% Montana tax credit has helped secure $123-million for permanent endowments since the credit was enacted in 1997.
The most common Planned Gift to the Foundation for Community Care includes:
Charitable Gift Annuities
Deferred Payment Gift Annuities
Charitable Trusts
Gifts of Life Insurance Policies
Bequests (Gifts through Wills)
Beneficiary Designations (IRAs, Insurance, etc.)
Bargain Sale
The Foundation for Community Care offers those who care about our community a way to keep their charitable dollars close to home for an important cause - Helping to Ensure the Continuance of Quality Healthcare. For complimentary, no obligation information on how to set up a planned gift, contact Staci Miller at the Foundation for Community Care at 406-488-2273 or visit our website at http://www.foundationforcommunitycare.org and click on Planned Giving.
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