Tax Incentives

Giving to the University of North Dakota through the UND Foundation makes you eligible for certain tax incentives including federal deductions for most gifts and credits for North Dakota residents making certain types of gifts. This information is provided for educational purposes only. Please consult your own attorney, accountant or financial advisor for advice on your situation.

Federal Tax Deductions

Contributions to the UND Foundation are deductible as charitable contributions within the limits of the Internal Revenue Code.

Cash Gifts

  • Deductible up to 50 percent of adjusted gross income
  • Carryover applied within five years

Personal Property 

  • Gifts-in-kind are deductible at the full fair-market value if they are related to the mission of the University.

Gifts of Appreciated Property

  • Gifts of appreciated property (securities and real estate) held for more than one year are deductible up to 30 percent of adjusted gross income with no capital gains tax on the appreciation. The deduction is based on the fair market value of the donated property.
  • Gifts of appreciated property held for less than one year are deductible only up to the cost basis in the property, with a limit of 50 percent of adjusted gross income.

Canadian Gifts

Due to the restrictions of Canadian law, gifts to the University of North Dakota Foundation do not qualify for a charitable deduction on a Canadian tax return. Please consult your tax advisor for your particular tax situation. 

North Dakota Income Tax Credit 

By making a planned gift or supporting an endowment at the University of North Dakota Foundation, North Dakota taxpayers may be eligible for an income tax credit. Few states offer charitable tax credits of any kind. This tax credit makes it possible for you to give more and make a greater impact on the students, faculty, and programs that benefit North Dakota communities.

Endowment Gifts

North Dakota residents, businesses, and financial institutions may qualify for a 40% tax credit on the value of their gift to a University of North Dakota endowment (minimum gift of $5,000 – lump sum or aggregate in one year). 

Businesses and Financial Institutions

  • C corporations, S corporations, estates, limited liability companies, and trusts
  • Businesses may carry forward any unused credit for up to 3 taxable years (financial institutions excluded).

Individuals

  • Any excess credit may carry forward 3 years

Planned Gifts by Individuals

Planned gifts may also qualify for the income tax credit of 40% of the charitable deduction created by the gift. Credit may be claimed the year of the gift; any excess credit may carry forward 3 years.

If a donor is in the 35 percent federal tax bracket, the benefit from the North Dakota Tax Credit on Charitable Gifts may look like this:

Individual Planned Gift Chart

  • The maximum credit for a single tax year is $10,000 for an individual, $20,000 for a married couple and $10,000 for business entities
  • This is a North Dakota Tax credit, not a deduction
  • This contribution can be deducted from your federal income taxes

This information is provided for educational purposes only. Please consult your own attorney, accountant or financial adviser for advice on your situation.