Endow Maryland is a state tax credit that rewards donors who help build permanent charitable funds for local communities across the state. Endow Maryland provides an incentive for Marylanders to give back to their local communities in a meaningful and lasting way.
Donors who make charitable contributions between $500 and $250,000 to qualified permanent funds are eligible to receive a 25% Maryland tax credit. In addition, your gift may be eligible for a federal charitable tax deduction, depending on your tax status.
Here at The Community Foundation, Endow Maryland helps build our endowments in Montgomery and Prince George’s counties, which work to assist every resident of these counties in achieving economic security – by strengthening the safety net to meet basic human needs, connecting our youth to opportunities to succeed, and helping workers gain the skills and credentials they need to thrive in our region’s economy.
DETAILS FOR DONORS
These credits are available on a first-come, first served basis. Please be sure to contact The Community Foundation staff to confirm if there are still credits available for this calendar year.
The recent change in the tax law affected the net benefit of these credits for donors. Please review consult your financial advisor about your specific situation and review this resource by Venable for more information.
Tax credits are only available for new contributions directly into one of our permanently endowed funds—i.e., a grant from your fund/foundation or a charitable distribution from an IRA would not be eligible.
Contributions may be made in the form of a personal check or stock gift.
You can learn more about the Endow MD Tax Credit by visiting the State of Maryland’s website.
HOW TO APPLY
The State requires that all donors follow these steps in order to apply for the Endow Maryland tax credits:
Please first contact your donor services officer to confirm that tax credits are still available for this year.
Download, print, and complete the Endow Maryland Certification of Contribution Form (required for each contribution) and the Endow Maryland Waiver of Information Form (required annually).
Make your gift via a check or stock donation.
Return the form to the Community Foundation via email, mail, or fax:
Mail: 8720 Georgia Avenue, Suite 202, Silver Spring, MD 20910
INFORMATION FOR ADVISORS
Download this important bulletin by Venable LLP, "Effect of IRS Regulations on Endow Maryland Tax Credit," published July 29, 2019.