Circle of Champions
To honor Dr. Roger Kerns and establish the Special Olympics North Dakota Circle of Champions Endowment (SOND-CCE) with $1,500,000 in capital, we are seeking $40,000 co-founder contributions throughout 2018.
The first 20 co-founder contributions will qualify for a $10,000 match from Special Olympics North Dakota (SOND).
If you are interested in other opportunities for giving to SOND, learn about additional ways to donate.
The SOND Conditional Match Boosts Your Gift to $50,000
SOND will contribute $10,000 to your qualified $40,000 gift, representing a $50,000 co-founder contribution to the SOND-CCE.
This matching contribution is available to the first 20 co-founders.
Read the matching contribution agreement and other policies for your gift to SOND-CCE.
A $40,000 Gift Could Cost as Little as $12,800
In 2011, North Dakota passed a law allowing a generous tax credit for individuals and businesses who give specific types of gifts to North Dakota charities: 40 percent for gifts of $5,000 or more to a qualified North Dakota charitable endowment fund*.
This presents a great opportunity for donors who contribute to SOND-CCE. The North Dakota tax credit alone is substantial, but when paired with federal tax savings, the cost of your gift compared to its impact is incredible.
If a donor is married and in the 28 percent tax bracket, the overall tax benefit may look like this:
|State Tax Credit||$16,000|
|Net Cost of Gift||$12,800|
Note: The maximum state credit allowed is $10,000 for an individual or $20,000 for a married couple. The tax credit can be carried forward for three years.
For more details, read the information on North Dakota’s 40 percent tax credit from North Dakota Community Foundation.
* Qualified endowment is defined as an “irrevocable fund held by a North Dakota incorporated or established organization that is a qualified nonprofit organization; or a bank or trust company holding the fund on behalf of a qualified nonprofit organization.” The Uniform Management of Institutional Funds Act (NDCC 15-67) gives further guidance on the definition of endowment, stating that an endowment fund is not wholly expendable by the nonprofit on a current basis under the terms of the applicable gift instrument or fund agreement.
For Donations or General Questions
Special Olympics North Dakota
2616 South 26th Street
Grand Forks, ND 58201