This limited program, the Community Investment Tax Credit Program – 2018, provides a 50% Maryland tax credit incentive for donors to give in the $500 to $1,500 range.
The resulting donations will be used by the Museum to build its institutional capacity for educational programming, development, and volunteer growth.
*The available tax credits are limited, and will be utilized on a first come – first served basis, until they are committed.*
The tax credits are offered to encourage new donors to start, small donors to grow bigger, and one-time donors become sustaining donors.
Here is how it works, using the example of a $500 donor:
- The donor is a Maryland taxpayer (individual or business)
- The donor makes a $500 donation to the Allegany Museum in early 2018. That charitable donation triggers a 50% tax credit on the donor’s Maryland 2018 tax bill. A $500 donation triggers a $250 tax credit…that is, a $250 reduction in Maryland tax liability. That 50% tax credit is in addition to any charitable gift deductions for which the donor qualifies.
- So, the Museum gets a $500 donation, and the ultimate out-of-pocket cost for the donor is less than half that, less than $250! That is a cost-effective way to make history.
Please call or email Daryl Smith, Museum Development Director right away. Don’t postpone your gift…prolong its impact.
firstname.lastname@example.org / mobile 301.707.4856