Endow Maryland: Get a tax credit today. Help Maryland forever
March 06, 2018
Endow Maryland allows Marylanders like Debby and Steve Jencks to give back to their local communities in a lasting, meaningful way while providing a valuable tax credit on their state income tax return.
Endow Maryland is a state tax credit available to donors who give to a qualified endowed fund at a community foundation in Maryland. That gift grows in perpetuity, and helps Maryland forever – long outliving the value of the tax credit.
Debby and Steve have given to BCF’s Civic Leadership Fund and the Invest in Baltimore Endowment and received Endow Maryland tax credits. They appreciate the tax credit because it has allowed them to give more to support the community they care about.
“Through the Jencks Family Fund, we’ve given to organizations that advocate on issues important to us, like a woman’s right to choose, the environment, civil liberties and gun control,” Debby and Steve say. “In addition, as residents of Baltimore for 45 years, we have found that it was very important to invest in Baltimore because there is a lot to be done here. Through gifts to the Civic Leadership and the Invest in Baltimore funds at BCF, we’ve been able to use the Endow Maryland tax credit to give more than we otherwise could to help Baltimore.”
Debby and Steve are among the many donors in Maryland who are investing in their local community foundations through Endow Maryland. Today, $250,000 in tax credits are available annually (contact us today to find out how your gift may qualify for an Endow Maryland tax credit). But the Maryland General Assembly is considering legislation that would quadruple available credits to $1 million. BCF has submitted testimony to the MGA in support of the legislation.
An expansion would allow more donors to grow community foundation endowments all over the state. Marylanders are already among the nation’s most generous givers, and expanding Endow Maryland will provide even more options for donors to give back to their communities.