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Making a Tax Favored Gift

piggy bankIdaho Education Tax Credit

When making a gift to the North Idaho College Foundation, donors can receive a substantial tax advantage on their tax returns. Contributions to the NIC Foundation are eligible for a 50% Idaho Education tax credit, which is a reduction to your actual tax due.

  • Idaho individuals may take up to 50% of a $1,000 gift (a tax credit of $500)
  • Idaho Married Couples may take up to 50% of a $2,000 gift (a tax credit of $1,000)
  • Idaho Corporations may take up to 50% of a $10,000 gift (a tax credit of $5,000)

If you itemize your taxes, a donation to the NIC Foundation may be eligible for deductions on your state and federal returns plus the 50% Idaho Education tax credit.  

Major Gifts

To maximize your tax benefit when making a major gift, consider spreading larger gifts over time through a multi-year pledge. For example, a gift of $10,000 given over five years will allow taxpayers to maximize their Idaho Education tax credit each of the five years compared to a one-time gift.

*Consult with your tax professional to develop the best plan for your personal situation. If you have questions, please contact us.