Funding Mechanism Information:
-Contributions to the Endowment Fund become assets of the Keweenaw Community
-Charitable donations qualify as an itemized federal income tax deduction.
-Charitable donations qualify for the Michigan Community Foundation Tax Credit.
-The invested principal is restricted. The income is available to be distributed by the
CLK Youth Hockey Fund Board of Directors.
Tax Benefit Example:
- Ammount of Annual Gift = $200
- Michigan State Tax Credit = $100
- Federal Tax Rate = 36%
- Federal Tax Savings = $72
- Total Tax Savings = $172
- Actual Cost of Gift after Savings = $28
Consult your financial advisor for more information about your benefits of giving.
-Contributions remain assets of the CLK Youth Hockey Fund.
-Charitable donations qualify as a federal income tax deduction.
-The invested principal and income is available to be distributed as directed by the
CLK Youth Hockey Board of Directors.