Tax Incentive for Giving to Nonprofits' Endowments & Investment Funds

Endowments and investment funds support the long-term financial sustainability of nonprofits. We can grow these funds and make them an effective financial tool for many nonprofits by establishing a state income tax credit for donations to eligible funds.

We invite you to an informational meeting to talk about this potential legislation, how it could help your nonprofit and how we can work together for the best chances of success in the 2016 legislative session.

Date: Tuesday, October 13, 2015, 3:00 - 4:00 pm
Location: Tim Gill Center for Public Media, 315 E Costilla Avenue
Cost: FREE, RSVP to [email protected] required
Speakers: Renny Fagan & Mark Turner, Colorado Nonprofit Association

Presented in partnership with the Colorado Nonprofit Association

In 2015, Rep. Dominick Moreno and Sen. Michael Merrifield sponsored HB 15-1314 to create a state income tax credit for donations to endowments or similar investment funds held by or for 501(c)(3) nonprofits. The bill passed the House Finance Committee that considers tax policy issues but died in Appropriations due to the challenging budget environment. Nonprofits all of over the state supported the bill and we want to try again in 2016. Five states have current laws similar to this – Iowa, Kentucky, Maryland, Montana, and North Dakota – and several other states will be considering legislation in 2016.

This tax credit could be a valuable fundraising tool for many nonprofits. Your feedback and involvement are critical to ensure the successful passage of this legislation. At the meeting, we’ll give a detailed overview of the issue, a look at the barriers to the bill faces and strategies to overcome these hurdles.  We look forward to your participation and to answering your questions.Click here for more information on this issue.

Questions? Contact CNE at 719-575-4341 or by email [email protected]