Maximize your impact. Minimize your taxes.

The Illinois Gives Tax Credit Program is an exciting opportunity for Illinois taxpayers to make a lasting impact and receive a significant tax benefit.

llinois taxpayers can now receive a 25% charitable income tax credit through the Illinois Gives Tax Credit Program. This exciting opportunity incentivizes new charitable giving to endowed funds at The Community Foundation for McHenry County and other qualified community foundations

Whether you’re establishing a new endowment or contributing to an existing one, your gift will help strengthen Illinois communities for generations to come.

Here’s How It Works:

• 25% state tax credit on qualifying gifts to endowed funds.

• Individuals can receive up to $100,000 in tax credits per year (for a $400,000 gift). Married couples (if both are Illinois taxpayers) can receive up to $200,000 in credits annually (for an $800,000 gift).

• Unused credits can be carried forward. Tax credits are not transferable.

• Donor advised funds are not eligible.

Steps to Apply and Receive the Credit

1. Start with the Community Foundation – Contact us to align your charitable goals and confirm eligibility.

2. Set up a MyTaxIllinois account – If you don’t already have one, request a Letter ID and complete your registration.

3. Submit your application through MyTaxIllinois to make a qualifying gift.

4. Receive your Contribution Authorization Certificate (CAC) from the Illinois Department of Revenue (IDOR).

5. Make your gift within 10 business days of receiving your CAC.

6. Get your Certificate of Receipt (COR) from the Community Foundation via MyTaxIllinois — and use it to claim your tax credit. 

For additional information on the IL Gives Tax Credit program click here to visit the IDOR website.