Petoskey~Harbor Springs Area Community Foundation Endowment Exceeds $10 Million

Established in 1992, the Petoskey~Harbor Springs Area Community Foundation’s endowment has grown to over $10 million. The community foundation has distributed grants totalling more than $4 million to meet urgent needs, launch innovative programs, enhance existing services, and nurture all that is good in the area. Donations to the community foundation are highly tax favored. A married couple making a $400 gift to the Community Foundation is entitled to a $200 Michigan Income Tax Credit along with a $112 Federal Income Tax Deduction (assuming itemized deductions in the 28% tax bracket), resulting in a net cost to the couple after taxes of only $88. This is a great way to leverage your charitable giving to the maximum benefit for our wonderful communities.