04.28.17

Colorado Endowment Tax Credit Endorsement

In step with the Colorado Nonprofit Association, the Community Foundation Boulder County endorses Senate Bill 17-287

 
Specifically, the Colorado Endowment Funds Tax Credit – sponsored by Sen. Kevin Priola (R-Henderson) and Rep. Alec Garnett (D-Denver) – creates a Colorado endowment tax credit for donations of cash, property, and securities. Donors can claim a 25% tax credit for donations up to $100K to a charitable endowment.
 
The credit has the potential to help nonprofits and foundations serve the community by: 
  • Increasing giving to these funds: each $1 awarded in tax credits leverages $4 in donations.
  • Raising donors' awareness of their option to givee to endowments: donors' gifts are invested to grow in value over time, rather than being a fixed amount spent immediately on programs. 
  • Helping nonprofits benefit from generational wealth transfer: these credits encourage donors to make long-term gifts when they consider how to transfer their wealth to future generations. 
  • Growing their reserves: nonprofits and foundation can save assets for investment and future use. 
 
The credit would be authorized for the next three years, and eligible funds would be held by Colorado-organized and operated nonprofits and community foundations. Learn more about the benefits of endowments and endowment tax credits – and how to get involved.