A significant opportunity for Kentucky donors and their advisors is arriving on July 1. 

The Kentucky General Assembly has doubled the annual allocation of Endow Kentucky tax credits from $1 million to $2 million, creating new opportunities for individuals, families, and business owners to support the causes they care about while receiving meaningful tax benefits. 

While the expanded allocation will allow more donors to participate, demand for these credits has historically been extremely strong. In many years, available credits have been claimed within the first week of July. For that reason, donors should work with their professional advisors and submit completed applications to Horizon Community Foundation before July 1 so they are prepared when the application period opens. 

Through Horizon Community Foundation, eligible donors who make gifts to qualified endowed funds may receive a Kentucky income tax credit equal to 20% of their gift, up to $10,000 per taxpayer or $20,000 for married couples filing jointly. Unused credits may be carried forward for up to five years, and donors may also qualify for federal charitable tax deductions. Donors should consult their professional advisors regarding their individual circumstances. 

What makes Endow Kentucky especially powerful is that it rewards philanthropy designed to last. Gifts are invested in permanent endowments that generate annual support for charitable organizations and community priorities year after year. Rather than addressing only today's needs, endowed giving creates resources that strengthen communities for generations. 

For financial advisors, attorneys, CPAs, and wealth planners, Endow Kentucky can be an effective strategy for clients who are charitably inclined, have significant Kentucky income tax liability, are considering gifts of appreciated assets, or want to establish a lasting philanthropic legacy. In many cases, donors can reduce capital gains exposure while maximizing both charitable impact and tax efficiency. 

At Horizon Community Foundation, we partner with donors and advisors to develop charitable strategies that align financial goals with community priorities. As Northern Kentucky's community foundation, we understand the needs of our region and help connect philanthropic resources to opportunities that create lasting impact. 

The expansion of Endow Kentucky presents an important moment for donors who want to make a difference while taking advantage of one of Kentucky's most effective charitable tax incentives. The key is planning ahead. 

If you are interested in participating, we strongly encourage you to contact Horizon Community Foundation and complete your application before July 1. Having your paperwork ready when the application period opens will position you to take advantage of this valuable opportunity before available credits are exhausted. 

For more information or to obtain an application, please contact me at ngrayson@horizoncfnky.org. 

Together, we can build a stronger Northern Kentucky for generations to come.