Looking to the future, the Energy Share Board of Directors established an endowment in 1997. The purpose of the endowment is to be a permanent funding source for the future heating needs of low income Montanans. In 2008 we were able to start using some interest earnings to help our clients.
Montana law provides for a 20 percent tax credit for corporate donations and a 40 percent tax credit for planned gifts from individuals. The statutes governing the Charitable Endowment Tax Credit are found at Montana Codes Annotated 15-30-2327 through 15-30-2329, 15-31-161 and 15-31-162. The relevant Administrative Rules of Montana are found at 42.4.2701, and 42.4.2703 through 42.4.2708. Links to some of the statutes are provided below.
- Definition of a Planned Gift 15-30-2327(1)(b) MCA
- Definition of a Qualified Endowment 15-30-2327(1)(c) MCA; and
Permanent Irrevocable Fund 15-30-2327(1)(a)
- Providing for the Tax Credit for Planned Gifts 15-30-2328 MCA
- Providing for the Tax Credit for Outright Gifts by Business Entities
15-31-161 MCA and 15-31-162 MCA
- Describing impermissible provisions in planned gifts 15-30-2327(2) and (3) MCA
- Charitable Gift Annuity Exemption Act 33-20-701 thru 705 MCA
For more information about the Tax Credit, visit the Montana Department of Revenue web site.