Making a Tax Favored Gift

Idaho 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 the 50% Idaho Education Tax Credit, which is a reduction to your actual tax due.

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