As of January 1st, 2025, ECF is pleased to share that we are qualified to issue a 25% tax credit through the IL Gives Act for the first $3,000,000 in gifts made annually to our endowed Forever Fund (this equates to $750,000 in income tax credits).

ECF is leveraging this legislation as we work to double our Forever Fund by $10 million to sustain our efforts to forever Invest in Evanston, Advance Justice, and Empower Leaders. The IL Gives Act offers a great benefit to you and to us, ensuring our unrestricted endowment grows and ECF is equipped to meet community needs for generations to come.

To take advantage of this special opportunity and support our efforts to double our Forever Fund, please refer to our Step-by-Step Guide and email development@evanstonforever.org today.

FREQUENTLY ASKED QUESTIONS:

What is the IL Gives Tax Credit Act?   

The IL Gives Act creates, for the first time, a 25% state charitable income tax credit for gifts made exclusively to community foundation endowments. It’s intended to create a permanent, stable, predictable source of funding for community foundations like ECF. This credit is available to IL taxpayers of all income levels.  

Is there a limit to how much I can give and still receive the credit?  

Yes. The maximum donation per filer is $400,000 annually, resulting in a $100,000 tax credit. To ensure equitable access to this incentive, 25% of the annual available credit amount is reserved for contributions of $25,000 or less. 

The program will operate through the end of 2029, unless extended.  

My spouse and I file a joint individual income tax return. How do we claim the IL Gives tax credit? 

Individuals filing a joint return are each allowed to claim a credit they themselves have received, which may not exceed $100,000. A joint filed return may not claim more than $200,000 in Illinois Gives credit. 

Can I get a federal deduction and IL Gives tax credit on the same dollar?  

For individual taxpayers, yes. For other types of taxpayers (i.e., corporations, partnerships, estates, and trusts), no. We encourage you to consult a tax advisor on how to file for this potential double incentive.

Will I receive the credit if I give to or from my Donor-Advised Fund? 

No. Only gifts to endowed funds are eligible and Donor Advised Funds are not endowed. We recommend making your gift to ECF’s unrestricted Forever Fund, as growing this fund gives us the flexibility to mobilize resources in alignment with the needs of our community.

How do I receive my tax credit?  

To see if your intended contribution will qualify for the credit, you will first need to apply through MyTax Illinois. Please refer to the following links to get started and receive your credit: 

• Illinois Department of Revenue’s Quick Start Guide.
• ECF’s Step-by-Step Guide for Donors.  

To take advantage of this special opportunity and support our efforts to double our Forever Fund, please email development@evanstonforever.org today. 

Please note: This FAQ is informed by current legislation, which could be subject to change.