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Endowment

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. ShareHouse has one endowment:

  • The Eagle Fund is an endowment for the future needs of ShareHouse.

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.

 

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
  • –Partnerships
  • –Limited Liability companies
  • Estates (if they file an income tax return)
  • Trusts
  • Financial Institutions

 

For more information on making a gift, contact ShareHouse Foundation Executive Director, Deb Soliah at 701-478-9530 or dsoliah@sharehouse.org