Contributions of $5,000 or more to qualified North Dakota endowment funds are eligible for a 40% tax credit.*
The easiest planned gift to make is an endowment. Endowments are permanent invested funds that provide a stable, ongoing source of money for scholarships, special programs, or other campus needs. If you already have an endowment named for yourself or someone special, this is a great time to increase your investment. If you do not wish to establish an endowment or make a planned gift at this time, you can invest in an existing endowment and receive the same tax benefit.
| Tax Credit Example in 24% Tax Bracket | ||||
|---|---|---|---|---|
|
Gift Amount |
$5,000 |
$25,000 |
$50,000 |
|
|
Federal Tax Deduction |
$720 |
$3,600 |
$7,200 |
|
|
ND State Income Tax Credit |
$2,000 |
$10,000 |
$20,000 |
|
|
Net Cost of Gift |
$2,280 |
$11,400 |
$22,800 |
|
In 2018, the IRS issued regulations relating to state tax credits that may affect your federal tax deduction. Talk to your tax adviser to determine how this may affect you.
If you have already given a gift that might qualify, all you need is your receipt with our nonprofit tax number. Talk to your tax adviser about Form ND-1PG for the planned gift tax credit and Form ND-1QEC for the endowment tax credit.
*Individuals may receive a state tax credit for a planned gift (e.g., charitable remainder trusts, charitable gift annuities, life insurance policies, etc.,) to a qualified N.D. charitable nonprofit or a qualified N.D. endowment. The tax credit is 40% of the charitable deduction allowed by the IRS up to a maximum credit of $10,000 per year per taxpayer, or $20,000 per year per couple filing jointly.
Margaret and her husband, Hugh Veit ’79, established the Eleanor S. Fitzgerald Memorial Graduate Student Scholarship to support NDSU students earning advanced degrees in the Department of Health, Nutrition, and Exercise Sciences or the Department of Human Development and Family Science.
Core areas of home economics remain part of current NDSU degree programs such as accounting; apparel, retail merchandising, and design; education; family and consumer science; financial planning; human development and family science; interior design; and nutrition science.
Home economics programs opened doors, particularly for women, to earn college degrees and pursue careers in education, Extension, state and federal government, business and industry, health care, and more. NDAC listed domestic economy as one of its courses in its founding year, 1890.
Established by Dr. Teresa Conner, dean of the NDSU College of Health and Human Sciences, and co-chaired by Dr. Margaret Fitzgerald ’83 and Col. Esther Meyers ’75, the Wisdom Keepers provide support and share their knowledge and expertise with students, faculty, staff, and leadership in the College.
The home management house at NDAC was the first facility built on a college campus specifically for home management practice. In 1954, it was named in honor of Alba Bales, the first female academic dean at NDAC.