KHS offers tax credits

Thursday, February 14, 2008

The Kansas Historical Society has announced that the new Partnership Historic Sites Program will allow non-profit organizations to receive Historic Sites Tax Credits to solicit donor gifts for specific projects.

Each year, $200,000 in Historic Site Tax Credits will be distributed and may be used for restoration, preservation, site operations, or the establishment of an endowment, a statement from the Kansas Historical Society said.

To qualify for tax credits, an organization must first become an official Partnership Historic Site. To apply for Partnership Site status, an organization must meet the following criteria:

* The historic site must be owned and operated by an organization that is an Internal Revenue Service-certified 501 (c)(3) organization, and must maintain their non-profit status while designated a Partnership Historic Site.

* The historic site must be listed in the Register of Historic Kansas Places, or the National Register of Historic Places.

* The historic site must be open to the public, or have the potential to be open to the public, for at least 500 hours each year.

* The historic site must be dedicated to educating the public about a specific aspect of Kansas history or United States history.

Once a site is deemed a Partnership Historic Site, an application for Historic Sites Tax Credits can be considered. If approved, the organization will be able to issue tax credits equal to 50 percent of each donor's gift received during the specified contribution period.

The minimum qualifying donation amount is $1,000. The maximum amount of tax credits awarded to any individual donor per year may not exceed $2,500. However, there is no limit on the donation amount, the Kansas Historical Society statement said.

This tax credit program is administered by the Cultural Resources Division of the Kansas Historical Society in accordance with K.S.A. 79-32, 211 as amended.

For more information about the program, visit the KHS Web site at kshs.org/resource/partnership, or contact the Cultural Resources Division at (785) 272-8681, extension 240.