As we come to the end of another tax year, our friends at Network Kansas have given us an incredible opportunity to raise funds for the village startups and entrepreneurs with their E-Village Pilot Program.
How does it work? It’s simple. Donate money and receive a 75% state income tax credit as well as a deduction on your federal income taxes in the form of a charitable donation deduction. Give once, receive twice (and more than you gave)! Plus, we’ll list your name on the donors list box to the right.
More specifically, here is what happens behind the scenes:
- You start by making a donation to the Kansas Center for Entrepreneurship (aka NetWork Kansas), a 501c3 that operates the E-Village Pilot program.
- During the donation process, you specify that the donation is on behalf of the Kansas City Startup Village.
- NetWork Kansas sends you a receipt and instructions on how to claim the state tax credit.
Now, let’s get started! The donation period is only open until December 23, 2013!
Participate in the Program
Follow these simple 7 steps to start the process:
- Click here to open up the donation page on the Network Kansas website.
- Click the Donate button on that page. This will open up their Paypal donation page.
- Enter a donation amount of at least $250.
- Log into your PayPal account, or pay with your credit card.
- Enter you payment information and click Review Donation and Continue.
- IMPORTANT! On the “Please Review Your Donation” page, click Add Special Instructions for the Recipient and type “KCSV” in the text box.
- Click the Donate $ Now button.
Frequently Asked Questions (FAQ)
What are we looking to accomplish with the E-Village?
Help directly support the Startups and the KCSV community while we give you a thank you in the form of a tax credit and charitable donation deduction.
How does this help you the supporter?
This means if you donate you get a 75% state income tax credit as well as a deduction on your federal income taxes for a charitable donation.
How does it work and who benefits from this program?
You start by making a donation to the Kansas Center for Entrepreneurship (AKA) NetWork Kansas, a 501c3 that facilitates the recently created E-Village Pilot program on behalf of KCSV. This in turn funds the E-village Program to give Startups in the KCSV better access to debt capital to help build their Companies.
Where is the money being used?
The money is used as a match loan program for startups on the Kansas side of the KCSV. This will allow KCSV to support and provide funding to startups as they build their company.
Is there a maximum amount of tax credits you can receive with your donation?
There is a maximum amount of $50,000 of tax credits that are allowed to be purchased. Your donation to receive the maximum amount of credits is $66,667.
Is there a minimum donation amount?
We ask that all donation be $500 or larger but no donations will be turned away.
Who can donate take advantage of these tax credit while support startups in the KCSV?
Any one can donate but the ones that can take advantage of the tax credit are any individuals or C-corporations that has a tax liability in the state of Kansas for 2013.
How easy is it for me to donate?
If you have tax liability in the state of Kansas, see the attached documents for instructions on how you can participate. The Program is run by NetWork Kansas which allows the entrepreneurs to focus on their companies.