Montana Free Press, in partnership with the Montana Community Foundation, established the Montana Free Press Forever Fund to ensure the in-depth, independent journalism will continue in Montana for generations to come. Endowments are an easy way to expand your charitable impact beyond annual giving. This fund allows you to give gifts with a lasting legacy while benefiting from the Montana Endowment Tax Credit.
What are planned gifts?
A planned gift is a contribution that is arranged in the present and allocated at a future date. Commonly donated through a will or trust, planned gifts are most often granted once the donor has passed away.
Typically, a planned gift looks like a legal contract between donor(s) and a nonprofit, that enables the donor(s) to:
- maintain access to (tax-reduced) income during life
- pass assets to heirs while minimizing/avoiding tax
- and make a larger gift than they ever imagined to a cause close to their heart.
What is an endowment?
An endowment is a long-term investment account, and investment earnings provide reliable, annual support, in perpetuity to the endowment’s organization.
How do endowments benefit the donor?
A Montana taxpayer who makes a planned gift to a qualified endowment can earn a Montana tax credit of 40% of the charitable value of the gift, up to $10,000 per year.
- Couples filing jointly can earn up to a $20,000 credit.
- Businesses can make a direct (cash) contribution, but only receive a credit for 20% of the gift.
Tax credits reduce the amount of tax, itself. In other words, Tax Credits are a dollar-for-dollar “coupon” against the tax owed on the bottom line.
How do I give to the MTFP Forever Fund?
Learn more about Charitable Gift Annuities here. If you’re interested in learning more about the Montana Free Press Forever Fund, please contact Kristin Cordingley, Director of Partnerships & Advancement, at (406) 202-5000 or [email protected].
Additional Resources
MTFP Forever Fund One-Pager (link to PDF)
MSU Save Montana Income Taxes with a Charitable Gift Annuity: