Higher Education Tax Credit Program
In an effort to address the maintenance needs of colleges and universities, the Kansas Department of Revenue & Kansas Legislature has established the Community College & Technical College Contribution Tax Credit Program. The program will run from July 2022 through 2026. The credit shall equal 60% of the total amount contributed during a taxable year for contributions made to a designated community college or technical college located in Kansas. Tax credits per taxpayer shall not exceed $250,000 per tax year.
How will we use the donation?
State contributions to college budgets are growing increasingly smaller, and we must rely on other means of raising money for much needed maintenance projects around campus. We are limited in the ways we can raise funds for improvements, so instead of raising tuition and free costs on our students, we look for unique programs like this one where it provides added benefit to you in the form of extra tax credits. Fort Hays Tech | Northwest has the ability to utilize funds donated through the tax credit program on deferred maintenance projects. The funds will allow us to make much-needed investments in projects that include renovations of our buildings, HVAC systems, sidewalks, facility needs, and a wide variety of infrastructure needs.
When to provide the gift?
The state legislature limits the amount of tax credits that can be issued annually on our behalf. For the current year, we can receive a total gift amount towards this program of $500,000. Since the tax credits are limited and on a first-come-first-served basis, and the statewide pool is limited, the earlier the donors provide the gift to the program the better. We encourage you to connect with your tax professional to see how this program could benefit you as an individual or organization!
Types of Gifts
- Cash Donations
- Stocks & Bonds
- Personal Items
- Real Estate Donations
Example:
A taxpayer makes a $10,000 contribution to Fort Hays Tech | Northwest and receives a state tax credit in the amount of $6,000. The taxpayer may be eligible to deduct a maximum of $4,000 as a charitable donation on the federal return. The taxpayer would receive a $6,000 Kansas tax credit to be applied against their state tax liability.
Gifts of Available Tax Credits per Gift
| Donation to FHNW | Tax Credit Benefit |
| $1,000 | $600 |
| $5,000 | $3,000 |
| $7,500 | $4,500 |
| $10,000 | $6,000 |
| $25,000 | $15,000 |
| $50,000 | $30,000 |
| $75,000 | $45,000 |
| $100,000 | $60,000 |
| $250000 | $150,000 |
| $500,000 | $300,000 |
For more information or to Donate please Contact:
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Ben Schears |
Kelly James |
