of a Generation
|What You Can Do
Endow Minnesota is a legislative initiative to promote community and economic development throughout Minnesota. It will create assets to help Minnesota communities prosper by providing a tax credit to spark increased giving to community foundation endowments.
The proposed legislation will provide an incentive for Minnesotans of all walks of life and all means to build their communities and sustain the charitable causes that they care about most. Endow Minnesota will provide those who contribute to the permanent endowments of community foundations a tax credit of 25% for any gift of up to $100,000 annually.
The Opportunity of a Generation
According to the Minnesota Generational Transfer of Wealth Study, more than $47.9 billion in wealth will be transferred from one generation to the next in Minnesota over the next 20 years. Keeping a portion of this wealth in Minnesota presents a unique opportunity to grow assets that will build our communities. Learn more about how Endow Minnesota embraces this opportunity.
Seventeen members of the Minnesota Legislature joined together to introduce Endow Minnesota bills in 2013. Further consideration of the bills is planned for 2014. Learn about the legislation’s purpose and impact, community foundations and endowments, claiming the credit, and administrative plans for Endow Minnesota.
Enacting Endow Minnesota
Now is the time to act on Minnesota’s transfer of wealth opportunity. Introducing new tax credits takes careful deliberation. The Minnesota Council on Foundations (MCF) and its community foundation members are working together to enact Endow Minnesota for the betterment of communities across our state. Learn more about their plan and the people who are making it happen.
You Can Act Now!
Legislators cast the votes, but ultimately, engaged Minnesotans are the ones who turn good ideas into laws and effective programs. Find out what you can do to support Endow Minnesota, including speaking in your community, talking to your elected officials and joining our advocacy team. And check out all our resources to realize this opportunity for our state.