Over the years, the Midwest Regional Turf Foundation (MRTF) has shown tremendous stewardship of the funds it brings in through donations, membership dues, and registration fees. These funds have been multiplied through investment in the following endowments which provide a permanent mechanism to support turfgrass research and education at Purdue University for the life of the program. We invite you to be a part of this legacy by contributing to one of the below items.
Giving to Purdue can bring several tax advantages. Although you should always speak to your accountant or attorney regarding your taxes, this general information may help you make a decision about how or when to give.
State of Indiana College Tax Credit
Indiana taxpayers may take a tax credit of half (50 percent) of their gift to Purdue. For a joint return, the maximum credit is $200 (based on a gift of $400 or more), and for a single return, the maximum credit is $100 (for a gift of $200 or more). The tax credit directly reduces the “bottom line” of your state income tax by reducing the amount you owe in taxes. All it takes is your gift to Purdue and one simple form, the Indiana CC-40.
Federal Tax Advantages
Contributions to the Purdue Foundation are deductible as charitable contributions within the limits of the Internal Revenue Code.
Cash gifts are deductible up to 50 percent of adjusted gross income, with any carryover applied within five years. For example, the net cost of a $1,000 cash gift to a donor in the 35 percent marginal tax bracket is only $650 after the $350 tax savings.