Schedule Endow: Notice of Endow Kentucky Tax Credit and Certification (2024)
Kentucky · Kentucky DOR · Used for tax years 2024
Kentucky Schedule ENDOW reports an endowment gift, the receiving community foundation, and the Department of Revenue’s preliminary authorization of the Endow Kentucky tax credit. It includes the foundation’s certification and a section for the department’s final credit approval.
Who files this form
Taxpayers claiming the Endow Kentucky tax credit must attach a copy of the approved Schedule ENDOW to their tax return each year they claim the credit.
- Partners, members, or shareholders of a pass-through entity must attach a copy of Schedule K-1, Form PTE, to their own return each year they claim the credit.
- Beneficiaries of an estate or trust must attach a copy of Schedule K-1, Form 741, to their own return each year they claim the credit.
What you'll need
Have these details ready to complete Schedule ENDOW:
- Taxpayer name, address, contact information, federal identification number or Social Security number, and Kentucky Corporation/LLET account number, if applicable.
- Entity type.
- Date and amount of the endowment gift, plus the date of the Department’s preliminary authorization of the credit.
- Foundation name, federal identification number, address, telephone number, and fax number.
- Name of the permanent endowment fund or county-specific component fund receiving the gift, if applicable.
The foundation officer or designee must sign and date the certification and provide their printed name and title.
To claim the credit on a tax return, the text requires a copy of the approved Schedule ENDOW. It also specifies Schedule K-1, Form PTE, for partners, members, or shareholders, and Schedule K-1, Form 741, for estate or trust beneficiaries.
How to file
Choose one of these options to submit the Endow application:
- Email: DORTaxCredits@ky.gov
- Fax: 502-564-0058
- Hand delivery: Department of Revenue, 1st floor security desk, 501 High Street, Frankfort, Kentucky. Call 502-564-8139 and ask for an employee in the Tax Credits Section.
Mailing the application is not recommended because it contains time-sensitive information.
To claim the credit, attach a copy of the approved Schedule ENDOW to your tax return each year. The schedule lists Forms 720, 720U, PTE, 725, 740, 740-NP, and 741 as returns to which it may be attached.
Common mistakes
- Mailing a time-sensitive application: The submission note says mailing is not recommended.
- Leaving out the approved schedule: Taxpayers must attach a copy of the approved Schedule ENDOW each year they claim the credit.
- Leaving out the required K-1: Partners, members, or shareholders must attach Schedule K-1, Form PTE. Estate or trust beneficiaries must attach Schedule K-1, Form 741.
Questions people ask
Who signs the foundation certification?
A foundation officer or designee signs it and provides the date, printed name, and title.
What does the foundation certify?
The signer declares under penalties of perjury that the foundation is a qualified community foundation, the gift is held in a permanent endowment, and the schedule and accompanying documents and statements are true, correct, and complete to the best of their knowledge and belief.
Where can I ask questions?
Direct all questions to DORTaxCredits@ky.gov.
Where is the process for finalizing the gift after preliminary authorization described?
The text directs taxpayers to 103 KAR 15:195 Section 4.