Have you heard of the Endow Kentucky tax credit? Many Kentuckians are not familiar with this program that helps donors and businesses reduce their tax bill while helping nonprofits build their endowed funds. We would like to share more about Endow Kentucky and how you can use this tax credit to support wildlands and KNLT with a gift to one of our three endowed funds.
KNLT has established endowed funds with three regional partners: Blue Grass Community Foundation, Community Foundation of Louisville and Foundation for Appalachian KY. These funds generate income for KNLT’s conservation mission today and will continue to do so long into the future. A gift to our endowed fund at one of these foundations is eligible for tax credits through Endow Kentucky.
The Endow Kentucky Tax Credit is different from tax deductions: it is subtracted from your tax bill in addition to your federal and state charitable tax deduction. This is a fantastic opportunity for many donors, but it is important to begin planning now. The program has a limited pool of available funds, and the application window is approaching soon. The Kentucky Department of Revenue accepts applications from Tuesday, July 1st to Monday, July 7th, but it is imperative to collaborate with your preferred community foundation before the deadline.
KNLT is grateful to supporters who help build our endowed funds, like Sallie and Sam Carter. The Carters were among the first to give to our fund at Blue Grass Community Foundation and Sallie recently shared why:
“As a child in rural Kentucky, I grew up catching crawdads in the creek in the woods on our farm. To me the world was a magical place filled with fireflies, wildflowers and butterflies. As I got older I learned how important it is for us all to take care of these lands and creatures if we want our children and grandchildren to enjoy the same magic.
First as an environmental volunteer, then as an employee of a conservation nonprofit, and now as a donor, I have learned that conservation involves long-term stewardship of the lands we work to protect. Restoration projects, invasive species mitigation and fire management require ongoing funding that can often best be supplied via endowment income. That is why my husband Sam and I are avid supporters of KNLT’s endowment fund.” ~ Sallie Carter
Learn more about the benefits of Endow Kentucky and the process for applying by visiting your community foundation’s website or contacting them directly:
Blue Grass Community Foundation (Lexington) (859) 225-3343
Community Foundation of Louisville (502) 585-4649
Foundation for Appalachian KY (Hazard) (606) 439-1357
If you are interested in an endowment gift, or just want to learn more, please contact Nicole Breyette, KNLT Development Director. Nicole can discuss the advantages and implications of endowment giving and the requirements to get started with the Endow Kentucky program.
Cover photo: Creech Overlook ~ Nicole Breyette
Sallie and Sam Carter ~ photo contributed
About Kentucky Natural Lands Trust
KNLT is a nationally accredited nonprofit working to protect biodiverse and climate resilient landscapes in ways that benefit communities. Through partnerships with individuals, nonprofits, government agencies and businesses, KNLT has protected more than 60,000 acres of wildlands throughout Kentucky and Central Appalachia. Projects like these would not be possible without the support of our donors! Join our movement and give today: DONATE NOW
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