Chesapeake Charities Promotes Charitable Giving with Endow Maryland Tax Credit

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Chesapeake Charities wants to get the word out about Endow Maryland, a Maryland state tax credit that encourages Maryland residents to give back to their local community in a meaningful and lasting way.  The Endow Maryland tax credit, which is designed to promote charitable giving in Maryland, for Maryland, applies only to gifts to permanent, endowed funds held at local community foundations such as Chesapeake Charities—gifts that will generate many times their initial value to benefit the community.Qualified donors could receive a 25 percent tax credit on their 2018 Maryland state tax return.

According to Linda Kohler, Chesapeake Charities Executive Director, “It’s a win-win for donors and the community. Contributions to the Community Endowment Fund at Chesapeake Charities will have a tremendous impact on the 85 funds under our umbrella and will leverage additional donations to the community.  Proceeds from the fund will be used to build the capacity of local nonprofit organizations and assist with grant research and grant writing – critical skills for every nonprofit.”

Endow Maryland offers a tax credit for gifts of at least $500 to permanent, endowed funds at qualified community foundations, resulting in $1 million in donations each year that directly impact local communities across the State.These credits are available on a first-come, first-served basis, and are anticipated to be claimed quickly. To find out how to take advantage of the tax credit, please contact Chesapeake Charities, at info@ChesapeakeCharities.org or call 410.643.4020. For more information about the Endow Maryland tax credit, refer to the Comptroller of Maryland website, “Spotlight on Maryland Taxes.”

Located in Stevensville, Maryland, Chesapeake Charities is a community foundation that supports over 85 nonprofit funds that impact a range of charitable causes including animal welfare, arts, education, health and human services, and the environment. All funds have a common cause – a passion for making a difference in their communities. Chesapeake Charities serves organizations in eight counties: Anne Arundel, Calvert, Caroline, Charles, Dorchester, Kent, Queen Anne’s and Talbot. They have invested more than $11 million in the Chesapeake Bay region since 2005, including $279,900 in scholarship awards to 254 local high school students, through nine scholarship programs.For more information, contact Chesapeake Charities at (410) 643-4020 or info@chesapeakecharities.org, or visit www.chesapeakecharities.org. Chesapeake Charities is accredited by the National Standards for U.S. Community Foundations.

For more information, contact Chesapeake Charities at (410) 643-4020 or info@chesapeakecharities.org, or visit www.chesapeakecharities.org. Chesapeake Charities is accredited by the National Standards for U.S. Community Foundations.

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