GIFT PLANNING
Bequest with Montana Endowment Tax Credit
Joe and Anna have been faithful supporters of our organization. They believe it is important to help further our mission.
Joe and Anna want to support St. John's with a gift that makes a larger impact for the long term and helps them save on taxes in the current year. They chose to use a Deferred Gift Annuity to make a $10,000 gift to one of St. John's Endowment Funds.
Their gift created a $5,000 federal charitable deduction AND a state income tax credit of $3,800.
The tax deduction reduced their taxable income on their federal tax return.
The tax credit reduced their state tax liability dollar-for-dollar.
