Community foundation donors can get tax credit

A tax credit aimed at increasing donations to community foundations goes into effect Jan. 1.

Part of the Endow Kentucky Program enacted earlier this year by the Kentucky General Assembly, the new credit offers a 20 percent income tax credit, up to $10,000 per donor, per year, when contributions are made to community foundations. The maximum credit for the entire state is $500,000, so local donors are encouraged to apply early.