Did you know?
By making a gift to a new or existing permanent endowment fund at the Foundation for Appalachian Kentucky, you may qualify for a state tax credit in addition to your Federal tax deduction. This is a tax-wise way to create a lasting legacy and support Kentucky charities, counties or communities forever.
The Endow Kentucky Tax Credit Program makes tax benefits available to donors who give to endowments at the Foundation for Appalachian Kentucky. You may be eligible to receive a tax credit equaling up to 20% of your gift.
Endow Kentucky features a tax credit, which is different than a tax deduction. A tax deduction reduces your taxable income, so the value depends on your income tax bracket. A tax credit lowers your tax bill dollar for dollar, no matter your tax bracket.
This year, all applications submitted to the Kentucky Department of Revenue between July 1 and July 7 will receive a prorated portion of the Endow Kentucky State tax credit. Credits are available on a first-come, first-served basis.
A tax credit lowers your tax bill dollar for dollar, no matter your tax bracket.
Application Instructions
- The donor completes sections A-G.
- In section F, the donor enters the amount of his or her intended gift (maximum gift through this program is $50,000).
- In section G, the amount entered is equal to 20% of the amount of the endowment gift.
- Enter the endowment fund name in Section J, and the donor signs and prints his or her name below Section J.
- You can send to Kristin Collins at kristin@appalachianky.org between July 1-July 7 to be submitted on your behalf, or you can submit the completed and signed form between July 1-July 7, 2023 directly to DORTaxCredits@ky.gov
How it works
