With the tax deadline soon approaching, you and your business still have time to acquire a 40% North Dakota tax credit for charitable giving. You are eligible since West River Health Services Foundation, your local accredited and licensed 501 (C) 3 charitable nonprofit institution, has three accredited North Dakota Endowment Funds. By giving $5,000 or more per individual per year up to $25,000 to one of our qualified Endowment Funds (Healthcare Heroes Endowment Fund, Physician Recruitment Endowment Fund and General Endowment Fund), you can receive a 40% North Dakota tax credit (up to a maximum tax credit of $10,000 per year per individual or $20,000 per year, per couple filing jointly). This is in addition to your federal tax credit for charitable giving.

For example, if you decide to give $10,000 to any of the WRHS Foundation’s Endowment Funds, you could receive a $4,000 ND tax credit. And if you were in a 40% federal tax bracket, you’d receive another $4,000 tax credit. Therefore, your $10,000 gift would really only cost you $2,000!

Businesses that pay state income tax may also receive a 40% tax credit up to a maximum credit of $10,000 by making a $5,000-$25,000 gift to an accredited Endowment Fund.

For instance, if a business gave $25,000 to the WRHS Foundation, they’d receive a $10,000 ND tax credit and if they were in a 40% federal tax bracket, they’d receive another $10,000 tax credit. Therefore, their $25,000 gift would only cost them $5,000!

Let’s all admit one thing: this is an amazing tax credit! How much longer do you think North Dakota will give us this 40% tax credit? Acting upon this tax credit sooner than later might be a smart idea. As mentioned earlier, West River Health Services Foundation offers three accredited endowment funds for you to consider giving toward: Healthcare Heroes Endowment Fund, Physician Recruitment Endowment Fund and General Endowment Fund. We are only $8,122 away from our $500,000 goal for Healthcare Heroes Endowment Fund.

If you have any questions about this amazing 40% North Dakota tax credit or our permanent endowment funds at the WRHS Foundation, please see your financial planner or contact Ted Uecker at the WRHS Foundation at 701-567-3666. Why not save taxes while supporting your local healthcare system at the same time? TOGETHER we can make a difference for your bottom line and our community’s health.

By Ted Uecker, WRHS Foundation