Major corporations don’t home base in North Dakota. Only a handful of Foundations that support the arts have North Dakota addresses. Whereas art institutions akin in size to the North Dakota Museum of Art seldom have endowments, they are essential to this Museum’s survival.

You can become a major supporter of North Dakota’s State Art Museum for less money than almost anywhere else on the continent. Currently we have eighteen named endowments that total $1.3 million. One million of that was donated by Jean Holland and Suzanne Ryan designated for General Operating Support. Many of the smaller endowments are targeted for such areas as Education, The Museum Garden, Classical Music, Exhibitions, Permanent Collection Purchases, etc. And, importantly, a good number of the endowments come from people who live outside of North Dakota because they are:

Believers in the Arts: Invest in one of the best small museums in America.

Descendants of North Dakotans: Your family wealth came out of North Dakota. Your grandparents may have settled the State. You may have been born here and moved elsewhere. Consider making the North Dakota Museum of Art one of your children in your will. You heirs number three children, plus North Dakota. Split your estate four ways. Reinvest in the place that invested in you. Under this scenario, a lot of famous people would put the North Dakota Museum of Art in their wills. The people the State exports should be among its most valuable assets.

North Dakotans who want to live with the arts: Give to a Museum Endowment and save up to 68% on your Federal and North Dakota State tax (if you are in the 28% Federal tax bracket). How it works?

• Give $5,000 or more to a Museum Endowment and deduct 28% from your Federal taxes and receive a 40% tax credit from your North Dakota State taxes. Restrictions: a maximum of  $10,000 credit is allowed each year for individuals and businesses, $20,000 for married couples. The law also allows three years of carry-over for unused credit.

• Businesses & Financial Institutions (C corporations, S corporations, estates, limited liability companies and trusts) may also qualify for the 40% tax credit from the State of North Dakota.

For example, your tax benefit could look like this, if you are in the 28% Federal tax bracket.

Gift amount:  $5,000  $25,000  $50,000
Federal tax deduction:  –$1,400  –$7,000  –$14,000
ND State income tax credit: –$2,000 –$10,000 –$20,000
Net cost of gift: $1,600  $8,000  $16,000

Above information is for educational purposes only. Ask your tax advisor to consult North Dakota Century Code 57-38-01.21 or Senate Bill 2363.