Montana Endowment Tax Credit
Receive a generous tax credit while building the future of the Catholic Church
If you could turn your tax dollars into a gift to benefit the future of your parish or our diocese, would you do it?
By making a gift to support a permanent endowment—a perpetual, “forever” fund—for a Catholic parish, school, organization, or ministry that you care about, you can receive a 40% credit against your Montana income tax.
Utilizing the “Montana Endowment Tax Credit” helps you maximize your charitable giving and allows you to give to the Church what you would otherwise pay in Montana state tax.
About the Montana Endowment Tax Credit: Q&A
Q: What is the Montana Endowment Tax Credit?
It is a generous and unique tax incentive for Montana taxpayers!
When an individual taxpayer makes a planned gift to a permanent endowment fund at a qualifying Montana charity (such as any of the permanent endowments at the Catholic Foundation of Eastern Montana), the donor is rewarded with credit equal to 40% of the “charitable portion” of the planned gift.
This is different, and much better, than a tax deduction.
Q: How can I personally qualify for this tax credit?
A qualifying gift can be given to any endowment that has been (or that you wish to have) created for your parish, a local Catholic school or organization, or any ministry approved by the Bishop which supports the Catholic Church in our diocese.
Click here to see the permanent endowment funds that the Foundation administers for the benefit of the Church in Eastern Montana. There are endowments for nearly everything dear to you: Catholic parishes, schools, cemeteries, priests, nonprofit organizations, and other ministries, including the Foundation’s annual grant program (which helps ALL organizations throughout our diocese).
Q: How long has this tax credit been available?
The Montana State Legislature originally enacted this temporary tax credit in 1997 to increase endowed philanthropy in Montana and, therefore, reduce the need for outright fundraising over time. The Montana Endowment Tax Credit is a success! So much so that the Montana State Legislature made this tax credit permanent in 2024. Any person or entity paying Montana income may join the many individuals and businesses that take advantage of this tax credit.
Q: What is a “permanent endowment fund”?
An endowment is a forever fund. When you permanently endow your donation to a charitable organization, you are simply placing a permanent restriction on your gift.
Take, for example, a regular gift placed in the offertory at Sunday Mass. It can be used by the parish for whatever is the greatest need at that moment. Your gift is received—and your gift can be immediately spent.
But a gift you permanently endow with the Catholic Foundation of Eastern Montana is never spent. On the contrary, it is invested, along with other endowed donations for the greatest needs or for specific Catholic parishes, schools, priests, organizations, or ministries. Then, every year, each of those beneficiaries receives an annual distribution check, which is a percentage of the total balance of their growing endowment fund!
The purpose of a “permanent endowment fund” is to create a constant, reliable, growing income stream that will be used solely for the purpose for which it was given, in perpetuity. In this way, your gift will not only help the Church today, but forever!
For more information, see 15-30-2327 MCA.
As mentioned above, your gift can be added to an existing endowment or, in some cases, can be used to create a new endowment. Click here to see all the permanent endowments at the Catholic Foundation of Eastern Montana.
Q: What is a “planned gift”?
A “planned gift” takes your personal needs into consideration when giving to the Church, utilizing methods tailored to suit your own financial situation. It generally provides you with increased tax benefits and/or a guaranteed income stream for the rest of your life. It can certainly be a smart piece of your estate planning. For more information, contact Foundation staff at 406-315-1765 or [email protected] (and see 15-30-2327 MCA).
Q: How do I make a planned gift to qualify for this generous tax credit?
The first thing to do is contact the staff at the Foundation (406-315-1765 or [email protected]). We will listen to your interests and suggest options that will benefit you personally and the church cause you care about. People across the Diocese of Great Falls-Billings are taking advantage of this tax credit while helping our Catholic Church thrive. You can, too! (Of course, we also recommend that you consult your legal and/or tax professionals before making planned gifts.)
Following are the planned gift methods that may qualify for the Montana Endowment Tax Credit (explained further by clicking here):
Next Steps:
Reach out to us! Judy Held, President of the Catholic Foundation of Eastern Montana, would love to speak with you. She can help explain concepts and provide you with information about the many endowment funds currently administered by the Foundation—as well as how you can, perhaps, create your own.
She can also give you more information that you can take to your personal legal and/or tax advisors, if applicable. Reach out to her anytime at [email protected] or 406-315-1765.
