The Friends of Shiloh Foundation is a community-based nonprofit organization dedicated to supporting Shiloh Christian School.
To provide opportunities for private financial support of unique, challenging, innovative projects and programs which will enhance educational excellence and empower students to succeed in Shiloh Christian School.
You can make a tax deductible donation to fund Shiloh Christian School by: cash gifts, check, endowment, or securities. To learn more about the Friends of Shiloh Foundation, and how to make gift contributions, contact Laurie Eisenbeis, Development Director, or Kathy Miller, President of the Friends of Shiloh Foundation. Phone: 701.221.2104
Endowment Tax Credit in North Dakota
North Dakota has for several years had a 40 percent tax credit for planned or deferred gifts via charitable annuities, life insurance policies, etc.
New in 2011 the statute was amended to include gifts of cash or property. The gifts must be given to a qualified permanent endowment fund (restrictions apply to spending principal) of a qualified non-profit organization (any 501c(3) located in North Dakota that qualifies for federal charitable income tax deductions).
For individuals the cumulative gift(s) in the tax year must be at least $5,000. The credit is 40 percent of the gift up to a maximum credit of $10,000 ($20,000 for joint filers). Example-a $50,000 gift @ 40% credit reduces North Dakota income tax by $20,000, plus the taxpayer is entitled to deduct the $50,000 on their federal return.
C and S corporations, trusts, estates, and LLC’s also qualify for the 40 percent credit up to a maximum credit of $10,000 per year. Entities other than individuals are not subject to the $5,000 minimum contribution.
All taxpayers may carry over any unused credit for up to three years. Taxpayers are not entitled to both the credit and a deduction for the gift on the North Dakota return. Thus, if a taxpayer deducts the gift as a charitable contribution on the federal income tax return and reduces federal taxable income (the starting point in computing North Dakota taxable income), North Dakota taxable income must be increased by the amount of the reduction in federal taxable income resulting from the gift.
The credit in combination with the federal tax deduction for charitable gifts offers North Dakota taxpayers a great tool for income tax reduction while supporting North Dakota charities.
North Dakota Century Code 57-38-01.21