The Qualified Endowment Credit is for people and businesses making charitable donations to a qualified endowment.

Individuals, corporations, small businesses corporations, partnerships, trusts, and estates with qualifying contributions.

Gifts to a qualified endowment, as defined in 15-30-2327, MCA.

20% of a direct charitable gift made to qualified endowments or 40% of the present value of a planned gift, up to $10,000.

This credit is nonrefundable and can’t be claimed on any portion of a gift taken as a deduction under 15-30-2131 or 15-31-114, MCA.

This credit cannot be carried forward or backward.

You may calculate this credit using the Qualified Endowment Credit (Form QEC).

15-31-161 and 15-31-162, MCA

ARM 42.4.27 and ARM 42.15.510