Make Your Gifts Go Further with the Illinois Gives Tax Credit

Looking for a way to reduce your tax liability? The Illinois Gives Tax Credit Act provides a sizable tax credit to donors contributing to endowed funds at qualified charitable community foundations with national accreditation, like the OPRF Community Foundation. When you give to a qualifying permanent endowment fund, you may be eligible for an Illinois state income tax credit equal to 25% of your gift. For example, a $10,000 qualifying gift could generate a $2,500 state tax credit. “Permanent endowment funds at community foundations are an important layer of financial stability for our nonprofit sector; they offer a vital and reliable source of funding for operational needs, capital funding, and ongoing programs,” said Carrie Summy, Foundation president and CEO. “Many nonprofits are struggling due to economic uncertainty and cuts to federal funding, so this is an excellent time for donors to support the causes they care about and join the Foundation in advancing important work