As of January 1, 2025, donors who give to an endowed fund through a Qualified Community Foundation can receive a 25% State of the Illinois tax credit. The Community Foundation of Kankakee River Valley has been approved by Illinois Department of Revenue as a qualified community foundation!
How does this benefit our community?
Local charities can talk with their donors and encourage them to donate to the charity’s endowed fund at CFKRV. Choose any of our endowed funds including designated field of interest and scholarship funds (donor advised funds are not eligible).
How does this benefit our donors?
This is one way for donors to get a tax deduction above the standard federal deduction.
How does this benefit the Community Foundation?
Our mission is to connect people who care with causes that matter in our community. Assisting you with your charitable giving where it means most to you, helps fulfill our mission.
View a full list of our eligible Endowed Funds you can chose from.
Do not see the specific cause your are intereted in contributing to? Ask us how you can use your gift to establish a new fund.
Donors (or their accountants) need to create an account at https://mytax.illinois.gov/_/ in order to receive the tax credit. View the below step by step by step instruction below to learn how to utilize the IL Gives Tax Credit and mazamize the impact of your donation.
Instructions TO Utilize the IL GIVES Tax Credit
You can find more information on the IL Gives Act at https://tax.illinois.gov/programs/illinoisgives.html.
Call or email our Foundation Office to learn how we can help meet your charitable needs in 2025!
