FARGO, N.D. — 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
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