FSCC Donations Earn KS Tax Credits

Kansas has an interesting program to help community colleges raise money. It works like this: You or your business can make a donation to FSCC and earn a 60% tax credit. On top of that, you get the federal deduction for a contribution to a non-profit.

So a contribution of $1,000 would get you $600 back from Kansas. The credit is refundable, so you get the $600 even if you didn’t pay $600 in taxes. If you are at the 25% Federal Tax Bracket, the donation can get you $250 off your Federal income tax. So you can donate $1,000 to FSCC and have it only cost you $150. If you are in a higher tax bracket the savings can be even greater.

It is a great program because it lets people keep their tax money local. For a $150 out of pocket expense, you can keep $850 of tax money in our local community instead of sending it to the state and Federal government.

If you might be interested in this, give Gary Palmer a call at 620-223-2700 ext. 5830.  You can also take a look at this PDF for more details.

 

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