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	<title>The Electronic Voice of Nativity &#187; S Corporations</title>
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	<description>Nativity Church of Fargo, 1825 11th St S, Fargo ND 58103  - (701)232-2414</description>
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		<title>Business Tax Credit for Creating or Contributing to Nativity Church of Fargo Endowment Funds</title>
		<link>http://www.nativitycatholicchurch.net/electronic_voice/2009/11/20/stewardship/business-tax-credit-for-creating-or-contributing-to-nativity-church-of-fargo-endowment-funds/</link>
		<comments>http://www.nativitycatholicchurch.net/electronic_voice/2009/11/20/stewardship/business-tax-credit-for-creating-or-contributing-to-nativity-church-of-fargo-endowment-funds/#comments</comments>
		<pubDate>Fri, 20 Nov 2009 21:46:16 +0000</pubDate>
		<dc:creator>Duane J. Koble</dc:creator>
				<category><![CDATA[Charitable Giving]]></category>
		<category><![CDATA[Fundraising]]></category>
		<category><![CDATA[Stewardship]]></category>
		<category><![CDATA[Beneficiaries]]></category>
		<category><![CDATA[Business Credit]]></category>
		<category><![CDATA[Business Tax Credit]]></category>
		<category><![CDATA[Cap 20]]></category>
		<category><![CDATA[Charitable Gifts]]></category>
		<category><![CDATA[Charities]]></category>
		<category><![CDATA[Endowment Funds]]></category>
		<category><![CDATA[Endowments]]></category>
		<category><![CDATA[Handful]]></category>
		<category><![CDATA[Income Tax Credit]]></category>
		<category><![CDATA[Income Tax Deduction]]></category>
		<category><![CDATA[Income Tax Liability]]></category>
		<category><![CDATA[Individual Partners]]></category>
		<category><![CDATA[Koble]]></category>
		<category><![CDATA[Legislative Session]]></category>
		<category><![CDATA[Limited Liability Companies]]></category>
		<category><![CDATA[Nonprofit Organization]]></category>
		<category><![CDATA[Planned Gifts]]></category>
		<category><![CDATA[S Corporations]]></category>
		<category><![CDATA[Shareholders]]></category>
		<category><![CDATA[State Income Tax]]></category>
		<category><![CDATA[Trust Company]]></category>

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		<description><![CDATA[North Dakota is one of only a handful of states that offer tax credit for charitable gifts and endowment development. The 2007 North Dakota Legislative Session created an income tax credit specifically for charitable gifts made to qualified endowments by businesses, and the law expands the current income tax credit for individual planned gifts to charities. Nativity Church of Fargo was instrumental in the creation of this law, which allows for the following: The legislation created a new state income tax credit for gifts made to qualified endowments. A qualified endowment is defined within this legislation as an “irrevocable fund held by a North Dakota incorporated or established organization that is a qualified nonprofit organization; or a bank or trust company holding the fund on behalf of a qualified nonprofit organization.” Funds established with Nativity Church of Fargo do qualify under this law. The new credit for gifts to endowments is equal to 40% of the value of the gift, with a $10,000 annual cap. Any unused amount of the credit can be carried forward three years. The new credit for gifts to endowments is available to corporations. It is also available to partnerships, S corporations or limited liability companies, [...]]]></description>
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