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News & Events

News & Event

Endow Kentucky Tax Credits Available July 1 (They Will Go Quickly!)

Are you a Kentucky taxpayer? Beginning July 1, the Commonwealth will again offer the Endow Kentucky Tax Credit to individuals and businesses that pay Kentucky taxes. This year, the available tax credits have doubled to $1,000,000. 

Endow KentuckyCINCINNATI (May 23, 2016) — Are you a Kentucky taxpayer? 

Beginning July 1, the Commonwealth will again offer the Endow Kentucky Tax Credit to individuals and businesses that pay Kentucky taxes. This year, the available tax credits have doubled to $1,000,000. 

Endow Kentucky Tax Credit is a state tax credit of up to 20 percent of charitable gifts to endowed funds at a qualified community foundation, such as The Greater Cincinnati Foundation, for the benefit of Kentucky-based nonprofit organizations. (Maximum tax credit: $10,000 per individual or $20,000 per married couple.) The tax credit can be carried over for five years. 

Your gift to The Northern Kentucky Fund of The Greater Cincinnati Foundation or to any other endowed GCF fund benefiting Kentucky nonprofits (see more below), including endowments you may establish to support your favorite organizations, may be eligible for this tax credit. Additionally, federal and state tax deductions are also available for these gifts. 

GCF endowed funds are market-invested, permanent funds from which a distribution is directed every year, in perpetuity, to the selected beneficiary nonprofit. By supporting an endowment, your gift creates a permanent source of funding for that organization. 

A short half-page application for these tax credits is required. Because we expect the cap will again be reached on the first day, you are encouraged to apply on July 1, 2016. 

For more information on this tax credit and assistance with the application, contact Laura Menge at 513-768-6170 or mengel@gcfdn.org.

Get the full details of the Endow Kentucky Tax Credit [PDF]

Donor-Created Endowments

In addition to The Northern Kentucky Fund, which supports nonprofits doing critical work in Boone, Campbell, and Kenton counties, The Greater Cincinnati Foundation manages many donor-created endowments. Among them are funds that benefit:

  • Brighton Center
  • Children, Inc.
  • Covington Partners
  • Gateway’s Urban Campus
  • Diocesan Catholic Children’s Home (DCCH)
  • The Life Learning Center
  • United Way, Northern Kentucky
  • An endowment supporting substance and alcohol abuse organizations in Northern Kentucky

A gift of any size to these endowments may be eligible for the Endow Kentucky Tax Credit.