A communication of Michigan
Community Foundations' Ventures, a supporting organization of the
Council of Michigan Foundations, with support from the W.K. Kellogg
Foundation, and the C.S. Mott Foundation, and community foundations.
2003 Michigan Community Foundations' Ventures
signed into law December 29, 1988, the Michigan Community Foundation Tax Credit
was designed to encourage individuals and businesses to build the permanent
endowments of community foundations across the state. In the ensuing years, the
tax credit has been a significant tool in the development of community
foundations and permanent community endowments. Michigan community foundation
assets have grown from $300 million in 1989 to over $2.5 billion in 2008. The
growth of endowments covering the state has also enabled grantmaking by
community foundations to increase from $1.7 million in 1989 to more than $130
million in 2008.
Are you looking for a less taxing way to
Giving through your community foundation qualifies you for
big savings through the Michigan Community Foundation
Tax Credit. For example:
- Married donors, filing jointly, can receive a 50% tax
credit of up to $200 on a gift of $400 to a permanent
- A single person can receive a $100 tax credit on a gift
- Michigan businesses have the potential to receive up to
a $5,000 tax credit (not to exceed 5% of total Single
Business Tax) on a gift of $10,000.
The Michigan Tax Credit
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