November 22, 2011
Tax Credit Opportunity
If you pay taxes in the state of Kansas, Cowley College is offering a
program that allows you to purchase a limited number of tax credits. The
funds generated from the sale of the tax credits, which are considered
a charitable gift to the college, are then used on critical maintenance
projects at Cowley. The focus this year will be to put a much
needed roof on Ireland Hall (the old High School).
The college can receive up to $347,055.55 of contributions this year, and since they are on a first-come first-served basis, interested individuals will want to move quickly. A net 54% Kansas income tax credit, combined with a charitable gift deduction, will result in lower tax liability and greater assistance to the college.
The tax credit program, known by its formal name as the Higher Education Deferred Maintenance Tax Credit Program, was created by the Kansas Legislature and put into effect in 2008, and will continue through 2012. Through generous gifts in previous years, the college has been able to make roof repairs to the Brown Center and provide furniture to the recently remodeled physics lab.
With state funding shrinking, there has never been a better time to help with repairs and improvements to our campus, while at the same time taking advantage of state and federal tax incentives. In order to give to this program, donors must contact the Endowment Office at Cowley College and be willing to e-file their tax forms.
Contact Ben Schears at (620) 441-5245 or Shannon Massey at (620) 441-5319 for questions or to purchase tax credits.