Every student deserves to graduate!
LCF Endowment Fund... a gift that keeps giving!
An individual may receive a state tax credit for a contribution of $5,000 or more (lump sum or aggregate in one year) to the LEGACY CHILDREN’S FOUNDATION ENDOWMENT FUND a qualified North Dakota charity.
Our work is completely dependent on the support and encouragement of our community thus making your donation vitally important to the success of the teenagers who have developed this program. We promise to be frugal stewards of your donation.
We thank you!
The tax credit is 40 percent of the charitable reduction allowed by the IRS, up to a maximum credit of $10,000 per year per taxpayer or $20,000 per year per couple filing jointly. For donors in a 28 percent federal tax bracket, the tax benefits may look like this:
Gift Amount: $5,000 $10,000 $25,000 $50,000
Federal Tax deduction - 1,400 - 1,680 - 7,000 - 14,000
N.D. state income tax credit - 2,000 - 4,000 - 10,000 - 20,000
Net Cost of Gift $1,600 $4,320 $8,000 $16,000
For Businesses and Financial Institutions: C corporations, S corporations, partnerships, estates, limited liability companies and trusts that make gifts to the LEGACY CHILDREN’S FOUNDATION ENDOWMENT FUND, a qualified North Dakota charity may receive a state tax credit equal to 40 percent of the value of the gift, up to a maximum credit of $10,000 per year.
For more specific information about LCF endowed funds please contact:
The FM Area Foundation