Illinois Gives Tax Credit

Give

100%

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Get

25%

Support the causes you care about while receiving a 25% Illinois state income tax credit.

Through the Illinois Gives Tax Credit Program, eligible gifts to permanent endowment funds at the Community Foundation of Central Illinois can qualify for a state income tax credit equal to 25% of your gift.

Program Flyer Step-by-Step Donor Instructions Go to MyTax Illinois Illinois Gives Tax Credit Act Contributor Information

What Could Your Gift Look Like?

Enter the amount you’re considering to see an estimate of your Illinois Gives tax credit.

This calculator is provided for illustrative purposes only. Actual tax benefits will depend on your individual circumstances. Please consult your tax, financial or legal advisor regarding your specific situation.

How It Works

Making a gift through the Illinois Gives Tax Credit Program is a straightforward process. Here’s how your gift can make a lasting impact in Central Illinois..

1

Plan Your Giving

Choose an eligible existing endowed fund at CFCI or talk with us about establishing a new one.

2

Apply & Make a Gift

Apply through MyTax Illinois, select CFCI as your Qualified Community Foundation, and once you receive your Contribution Authorization Certificate (CAC), make your gift to CFCI.

3

Funds Grow

Eligible permanent endowment funds at CFCI are invested and grow in perpetuity

4

Annual Grants

CFCI makes annual grants from eligible permanent endowment funds that support Central Illinois charities and projects.

Sounds Complicated? We’re Here to Help.

You don’t have to figure this all out on your own. CFCI can help you understand the process, identify an eligible fund, and make sure you’re headed in the right direction before you apply.

Call CFCI
309.674.8730 Email CFCI

Eligible Funds

Give to What Matters to You

With Illinois Gives, you can choose how you want to make an impact.

Give to an Existing Fund

CFCI has a variety of eligible endowed funds supporting nonprofits, causes, and communities throughout central Illinois. You can find one that connects with what matters to you.

Explore Eligible Funds

Create Your Own Fund

Want to create something of your own? You can establish an eligible endowed fund at CFCI around a cause, organization, or community that matters to you.

Not Sure Where to Start?

Tell us what you care about, and we’ll help you explore your options and find the right fit.

Let’s Get Started

What Does “Endowed” Mean?

An Endowed Fund is Designed to Provide Lasting Support

Rather than spending the original gift, the fund is invested by CFCI and then provides ongoing charitable support year after year. This means that a gift you make today can continue supporting the causes and communities you care about for generations.

This program applies to eligible contributions to permanent endowment funds held by Qualified Community Foundations in the state of Illinois. This means you can create your own fund or give to a currently established one. Donor advised funds do not qualify.

See CFCI’s Eligible Funds

Local Knowledge. Lasting Impact.

For more than 40 years, the Community Foundation of Central Illinois has connected people who care with causes that matter.

We know Central Illinois. We work with donors, nonprofits, professional advisors, and community leaders throughout the region, giving us a unique view of both the opportunities and needs within the communities we serve.

Whether you already know exactly where you want your gift to go or simply know that you want to make a difference, we’re here to help you find the right path.

in Assets
Funds
Granted Last Fiscal Year

FAQs

Illinois Gives Tax Credit Act – HB4951/Public Act 103-0592, Article 170

Provides a 25% State of Illinois income tax credit to donors who contribute an eligible gift to a qualifying endowed fund at an accredited community foundation in Illinois.

Any Illinois taxpayer, including individual and joint filers, corporations, partnerships, trusts, and estates can make an eligible gift.

No. It is only for Illinois state income tax.

No. If you pay Illinois income tax, you can claim the tax credit.

A donation to an endowed fund at an accredited Illinois community foundation. The Community Foundation of Central Illinois (CFCI) is an accredited Illinois community foundation.

A fund where the principal is held in perpetuity and the income is used for grantmaking.

Qualifying funds must be permanently endowed, cannot be donor-advised, and must grant exclusively within Illinois. Contact CFCI if you have questions about whether a specific fund is eligible.

Yes! CFCI’s operating endowment is eligible to receive gifts within this new legislation.

Yes. Donors can choose to donate to an existing endowed fund or create a new endowed fund that qualifies for the credit. Please contact CFCI if you are interested in opening a new qualifying endowed fund.

Yes. The total tax credit to be distributed is capped at $5 million. The maximum tax credit per taxpayer is $100,000. The maximum donation amount a community foundation can receive is $3 million. The program will sunset after 5 years unless it is extended by the Illinois General Assembly.

No. Only gifts to endowed funds at qualifying community foundations can receive the tax credit. Gifts to other charities, private foundations, and family foundations are not eligible for this tax credit.

Donors must register with MyTax Illinois, apply for a Contribution Authorization Certificate (CAC), and complete their donation within 10 business days of receiving the CAC. See our step-by-step instructions for the CAC application process.

CAC Application Instructions Illinois Gives Tax Credit Act Contributors Information

Let’s Talk About Your Gift

Interested in learning more about the Illinois Gives tax credit or how to make a qualifying gift through CFCI? Fill out the form below and a member of our team will be in touch to help answer your questions.

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