The following funds can be designated by donors.
ND Tax Credit – North Dakota provides a tax credit for individuals and businesses to give more, and through their contributions, have a greater impact.
ShareHouse General Fund – Funds will be used for the area of greatest need.
Helping Hand Fund – Grants up to $350 are made to address an urgent need in a clients’ life that serves as a barrier to their recovery journey while in our care. The requests come from the professional staff.
An endowment refers to gifts that are designated to be invested and not spent. The earnings of the endowment is used for serving the mission.
The donors can create their own name for the fund to honor the individual or business. A named endowment can be made by a donor giving $10,000. The donor can name the endowment to honor the individual or business they choose and they choose the purpose for the earnings of the endowment. The $10,000 may be paid over a three year period if requested.
North Dakota residents and businesses have a unique opportunity of benefiting the population battling the disease of addiction AND have a personal tax benefit. North Dakota provides a tax credit for individuals and businesses to give more, and through their contributions, have a greater impact.
Individuals have the following incentives
- An individual may receive a 40% tax credit for contributions of $5,000 or more (lump sum or aggregate in one year) to a qualified endowment, which ShareHouse Foundation has.
- Planned gifts by individuals qualify for a 40% income tax credit up to a maximum credit of $10,000 per year for individuals and up to $20,000 per year for married couples filing jointly. See N.D. Century Code 57-38-01.21 and 57-35.3. This credit is available to those who itemize expenses on their taxes for three taxable years.
Incentives for businesses include:
- State income tax credit of up to 40% of the value of the gift, with a maximum credit of $10,000 per year
- Unused credit may be carried forward for up to 3 taxable years
Which institutions qualify?
- C corporations
- Pass-through entities
- Subchapter S corporations
- Limited Liability companies
- Estates (if they file an income tax return)
- Financial Institutions