Create an endowment gift to secure the future of trail advocacy and development in Billings!

To make an endowment gift to Billings TrailNet, please contact Lauren Wright at Billings Community Foundation, at 406-839-3334 or email her at lwright@billingscommunityfoundation.org

FREQUENTLY ASKED QUESTIONS:


What is an endowment and how does it work?  
An endowment is a donation to a non-profit organization with the purpose of having it invested. When the endowment matures in five years, a portion of the proceeds from the investments will be used for operations at Billings TrailNet, while the rest goes to the endowment for further growth.

Why donate to the Billings TrailNet endowment?
By donating to the Billings TrailNet endowment, your donation will grow over time to become much larger than the amount originally donated.  An endowment will help us achieve financial stability by having a reliable source of income for years to come. Additionally, you can receive a tax credit in your Montana state income tax for your qualified endowment.

What is a qualified endowment?
To be “qualified” for the tax credit, the endowment must be a permanent, irrevocable fund held by a Montana organization that is an IRS-designated 501(c)(3) tax-exempt charitable organization. The endowment may be held and managed by the tax-exempt charitable 501(c)(3) nonprofit organization or by a bank or trust company on behalf of a tax-exempt charitable 501(c)(3) nonprofit organization.

How does an endowment benefit you?
Planned gift: allows you to credit 40% of the donated amount on your Montana State Income Tax up to a maximum of $10,000 per individual.   The maximum donation is $10,000 per individual; and the minimum donation in order to receive the tax credit is $1,000 per individual.
Outright gift: allows you to credit 20% of the donated amount on your Montana State Income Tax up to a maximum of $10,000 per individual.

What is the difference between a planned gift and an outright gift?
In broad terms, an outright gift is a donation in any amount without any necessary further action by the donor.  By contrast, a planned gift is donation made under certain conditions specified by the donor.  A minimum donation amount of $1,000 in assets is required for a planned gift.

What are the types of planned gifts?
The Endow Montana website contains a list of the planned gifts available to prospective donors: http://www.mtnonprofit.org/PlannedGiving/

How can I donate?
Please reach out to us and we will help guide you through the process of donating to our endowment.

Is the endowment managed safely?
Our endowment is managed by the Billings Community Foundation (BCF). Since 2006, BCF has worked to help non-profits in Montana achieve financial stability. For more information, visit the BCF website.

Can businesses donate?
Yes, a business can donate to the endowment and receive a 20% deduction from its Montana income taxes. For more information, please check MCA 15-31-161.


How can I find out more about Montana Tax Credit?  
The Endow Montana website is a great resource to learn the details of endowments in Montana, and Montana Tax Credit.

 

To make an endowment gift to Billings TrailNet, please contact Lauren Wright at Billings Community Foundation, at 406-839-3334 or email her at lwright@billingscommunityfoundation.org

Or, for more information, please contact us at 406-281-1244 or email us at kristi@billingstrailnet.org

Thank you for ensuring the longevity of Billings’ trail-funding nonprofit organization!