Deferred maintenance tax credits

							FACT SHEET

            Deferred maintenance tax credits
                         Kansas Educational Institution Long-Term Maintenance Program

In an effort to address deferred            • Seaton Court: $3 million                   • Taxpayers taking advantage of the
maintenance issues at the state’s           • Utilities infrastructure and power           credit must file the appropriate
institutions of higher education, the         plant improvements: $18.4 million            Kansas tax return forms electronically.
2007 Kansas Legislature passed House        • Waters Hall: $5 million
Bill 2237, the Kansas Educational           • Willard Hall: $10 million                  For K-State, the maximum tax credit
Institution Long-Term Maintenance                                                        available in 2009 is approximately
Program. For K-State and other              Typically, these buildings need new          $3.2 million and in years 2010–2012,
institutions in Kansas, this means that     heating, air conditioning and                the amount of tax credits available to
there is now a state tax incentive, in      ventilation systems, electrical,             donors in each year will be more than
addition to a general interest in           emergency systems, plumbing,                 $4.3 million. During the life of this
maintaining our educational facilities,     windows, doors and elevators. They           program, the Kansas Legislature has
for donors to consider when providing       may require removal of asbestos and          earmarked nearly $17.9 million in tax
private gifts in support of K-State’s       upgrades may be needed to assure             credits to assist K-State in addressing its
deferred maintenance needs.                 compliance with the Americans with           long-term building maintenance needs.
                                            Disabilities Act.
Tax credit is available for contributions                                                The tax credit program allows
made to benefit urgent deferred                                                          contributions toward deferred
maintenance needs for several buildings     How the program works                        maintenance to provide a greater tax
on central campus, plus improvements        Tax credits available under the Kansas       benefit than a traditional contribution.
needed at K-State at Salina and at three    Educational Institution Long-Term
agricultural research centers.              Maintenance Program conclude after
                                            calendar year 2012. Specific rules           How to give
The estimated cost of improvements is       governing the program note that:             Eligible gifts must be made directly to
noted below. Additional detail about        • The tax credit is available to             the KSU Foundation in the suggested
these deferred maintenance needs is           individuals, nonprofit organizations       minimum amount of $5,000. They
available on the foundation Web site at:      and businesses paying Kansas               may be given as cash, securities or
www.found.ksu.edu/deferred.                   individual and corporate income tax,       personal or real property that can be
                                              insurance premium tax and bank             converted to cash. The rules require
• Ackert Hall: $3 million                     privilege tax.                             that gifts must be received or
• Ag research centers: $1 million           • Qualified charitable gifts for deferred    postmarked by Dec. 31 of the year in
• Call Hall: $2 million                       maintenance are eligible to receive a      which the donor seeks the tax credit.
• Chemistry/Biochemistry building:            tax credit for 50 percent of the
  $2 million                                  contribution amount.                       For more information, please contact:
• Kedzie Hall: $2 million                   • If the credit afforded to a taxpayer is
• Leasure Hall: $3.6 million                  in excess of their income tax liability,   Karen Dunn
• McCain Hall: $1.5 million                   the remaining credit may be carried        800-432-1578 or 785-532-7597
• Memorial Stadium: $10 million               forward for up to three additional         karend@found.ksu.edu
• Nichols Hall: $3 million                    years and is therefore nonrefundable.
• Salina hangar: $2 million                                                                       Please visit
                                                                                          www.found.ksu.edu/deferred
                                                                                            for more details about
                                                                                                building needs.



          2323 Anderson Ave.   v   Manhattan, KS 66502-2911    v   785-532-6266 or 800-432-1578   v   www.found.ksu.edu