If you have been donating to The Little Forks Conservancy Endowment Fund at the Midland Area Community Foundation, this is the last year for you to receive a tax credit for your contribution. If you haven’t, then make this the year you finally take advantage of this great tax credit before it’s gone. As part of the tax reform bill passed by the state legislature in May, the Michigan Community Foundation Tax Credit will end on January 1, 2012. Therefore, you may still take advantage of the Michigan Community Foundation Tax Credit through the end of this year.
Created 20 years ago, the tax credit allows taxpayers to reduce their Michigan Income Tax liability by a credit of up to 50 percent of the amount contributed to a community foundation endowment fund. If you file singly and contribute $200 or more, the tax credit will be $100. If you and your spouse file jointly and contribute $400 or more, the tax credit will be $200.
The Little Forks Conservancy Endowment Fund provides a critical source of funding for the Conservancy. The earnings from the Endowment Fund underwrite half of the Conservancy’s budget and are used to maintain our land stewardship program. This guarantees that we are able to care for the 501 acres we own and the 2170.4 acres we have protected with conservation easements now and forever. It also means that the Conservancy is able to use the funds we raise annually to conserve additional land in the Tittabawassee River watershed.
The Little Forks Conservancy established the Endowment Fund at the Midland Area Community Foundation in 1999 to provide long-term support for the Conservancy. Donations to The Little Forks Conservancy Endowment Fund are permanently restricted and the Conservancy is limited to receiving no more than 5% of the fund balance as an unrestricted grant each year.
To contribute to The Little Forks Conservancy Endowment Fund, visit http://www.midlandfoundation.org/ or click here and select “Endowment Fund.”
