Extension and Ag Research News


Dale Joins N.D. 4-H Foundation

For tax purposes, now is a good time to donate to the North Dakota 4-H Foundation.

Penny Dale has joined the North Dakota 4-H Foundation as manager.

In this part-time position, Dale will focus on supporting the foundation board and its committees, as well as resource development and communication with the private partners/funders who support the foundation’s work.

The foundation is a nonprofit organization that secures and manages resources that allow North Dakota 4-H to enhance and expand its programming. The foundation is starting a donor development project.

“With the end of the tax year approaching, now is a good time for North Dakotans to make a donation to the North Dakota 4-H Foundation,” Dale says. North Dakota allows an income tax credit of 40 percent of a donation of $5,000 or more in cash or a deferred gift to a nonprofit organization’s qualified endowment fund. The North Dakota 4-H Foundation has a qualified fund.

This type of donation is limited to $10,000 per year for individuals and businesses, and $20,000 per year for a couple.

This opportunity is not the same as a charitable deduction. A charitable deduction reduces the amount of income subject to taxation. Participating in a qualified endowment provides a tax credit that is a dollar-for-dollar reduction in your North Dakota tax liability. Taxpayers can carry an unused credit forward for three years.

After taking advantage of the state income tax credit and a federal tax deduction, a $5,000 donation, for example, could have a net cost of $1,600.

“This tax credit for planned gifts is unique to North Dakota and gives North Dakotans a remarkable opportunity to make meaningful gifts to support North Dakota 4-H and decrease their income tax obligation,” says Brad Cogdill, chair of the North Dakota State University Extension Service’s Center for 4-H Youth Development.

Contact the North Dakota 4-H Foundation at 701-231-8569 for more information about making a contribution to its qualified endowment fund.

Prior to joining the foundation, Dale was an Extension 4-H Air Force program specialist at Texas A&M, where she worked with the 4-H national-level Military Partnership Project for the last four-plus years. Before that, she was the part-time 4-H Military Youth Project director in NDSU Extension’s Center for 4-H Youth Development.

NDSU Agriculture Communication - Dec. 22, 2017

Source:Brad Cogdill, 701-231-7259, brad.cogdill@ndsu.edu
Editor:Ellen Crawford, 701-231-5391, ellen.crawford@ndsu.edu
Creative Commons License
Feel free to use and share this content, but please do so under the conditions of our Creative Commons license and our Rules for Use. Thanks.