Tips for the Tax Savvy

Before It’s Too Late!

Do you know that in 2019 the Mississippi state Legislature established Endow Mississippi, giving Mississippi taxpayers a 25% state income tax credit to establish or fund endowments at qualified community foundations?

GCCF welcomes any gift between $1,000 and $200,000 made to one of our existing endowed funds. You can also open a new endowed fund directed toward a charitable goal that excites you most!

Your Endowed Gift (for example) Tax Credit ( 25%)
$1,000$250
$10,000$2,500
$100,000$25,000
$200,000$50,000

To get started, the state of Mississippi requires that you complete this application form found at www.endowms.org, for review by the recipient organization. At GCCF an endowed fund generally starts with a minimum contribution of $25,000 which we invest to generate enough interest for grants to charitable cause(s) recommended by the donor. Nevertheless, all Endow MS funds starting at $1,000 are welcome and grow tax-free.

Please send your completed application to GCCF Controller Patty Hammons, by email phammons@mgccf.org or by fax (228) 897-4843. To receive credit in 2022, your opening endowed gift must be received by October 30, 2022. If you have any questions, feel free to contact Patty at 228-897-4841, on or before September 29, 2022.

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