The HHF is building capacity through spendable dollars, available annually or put aside for major projects or unforeseen disasters (like floods). However, these funds don’t create the financial bedrock or the unshakable capacity to advance the HHF mission year after year. The permanent financial benefits of the HHF endowments can speak for themselves. What isn’t so obvious is the impact of an endowment program on how people view the HHF. Endowments signal to our friends that the HHF is not a fly-by-night operation. We are a permanent organization that is going to be around for a long time because we have a mission and purpose impacting people today and generations to come.
So, then, why should you consider a gift to a HHF endowment?
First, HHF endowments provide our friends and our programs the possibility of perpetuity. The impulse for some part of us to live on forever isn’t a negative one—some say it is the same deeply seated psychological impulse that drives humans to have children. When we give contributions to operations, we get a warm glow from knowing that the money is going to be used soon to further a charitable mission. When we give contributions to endowment, we experience the glow of perpetuity. Your gifts to a HHF endowment will undergird two outstanding community institutions long after we’re gone. They will benefit our children and our children’s children.
Second, HHF endowments provide an opportunity for one generation to transfer values to future generations. The Norsk Hostfest and the Scandinavian Heritage Park are the result of tremendous commitments of time, talent and treasure of very committed people as individuals and as a community. They represent the values of our Scandinavian heritage and our hopes and dreams for future generations to continue to live and support those values. By assuring the future of HHF and its mission today, the essence of our Scandinavian roots and community spirit will live on for the tomorrows to come.
North Dakota Endowment Gift Tax Credit
The Høstfest-Heritage Foundation is a leader in promoting permanent funding for North Dakota non-profit organizations. HHF Board member and ND State Senator Karen Krebsbach, co-sponsored SB2160 that allows:
Businesses (C corporations, S corporations, estates, limited liability companies, trusts, and financial institutions) that pay ND income tax may take a 40% credit up to a total of $10,000 for gifts given to any one of the HHF endowment funds.
Individuals may receive a state tax credit for a contribution of $5,000 or more (lump sum or aggregate in one year) to any one of the HHF endowment funds. The tax credit is 40% of the charitable deduction allowed by the IRS up to a maximum credit of $10,000 per year per taxpayer or $20,000 per year per couple filing jointly. Please consult your accountant or financial advisor regarding how the ND endowment gift tax credit may impact you.
A personal message from Høstfest-Heritage Foundation Board Member and District 40 State Senator Karen Krebsbach.
On April 27, 2011, I was present when Governor Dalrymple signed into law a visionary piece of legislation SB2160. It was my pleasure to co-sponsor this bill that encourages individuals and businesses to “invest” in the future of our state through their charitable gifts. By allowing generous North Dakotans to offset some of their state income tax obligation we will build stronger and more effective nonprofit programs and institutions. An effective nonprofit community, providing for critical needs of our people in areas of social services, healthcare and education, and preserving and promoting the spirit of us as North Dakotans and in particular we Scandinavians, is essential in maintaining North Dakota’s ‘quality of place’. A place we want to live and work, visit and raise a family.
The Høstfest-Heritage Foundation is a qualifying nonprofit under the law and our endowment funds also qualify for the North Dakota State Tax Credit. I believe it is an excellent opportunity for all of us Nodaks and Scandinavians to “give forward” to the next generation and see “Our Values Align” through Norsk Høstfest’s celebration of family and community and the Scandinavian heritage and culture that helped shape our great state and lives in our people today.
Med vennlig hilsen,
State Senator District 40
Høstfest-Heritage Foundation Board
HHF Qualified Endowment Funds
General Discretionary Endowment Fund The fund establishes a permanent financial base to provide income and revenue to support programs, projects and activities the Board determines further the mission of HHF. Example of potential uses include:
Grant funding for cultural, educational or historical programs at Høstfest, offered through the Scandinavian Heritage Association or other HHF mission related Scandinavian programs
HHF program initiatives supporting Høstfest, the Scandinavian Heritage Park, or other HHF mission related Scandinavian programs
Building and ground improvements or new static displays at the Scandinavian Heritage Park
HHF administrative expenses Please make gift to: HHF-General Endowment
Vision for the Future Endowment Fund The fund establishes a permanent financial base to provide income and revenue to support:
The on-going visioning, business and strategic planning efforts necessary for HHF, Norsk Høstfest Association, and Scandinavian Heritage Association to realize their respective missions
The evaluation, planning and implementation of new programs, projects, activities, partnerships and initiatives which help to introduce future generations, including students at the elementary, secondary and post-secondary levels, with their Scandinavian heritage or contemporary Scandinavian life
Cooperative educational opportunities, including student scholarships, with Scandinavian universities with preference to exchanges coordinated through Minot State University
Collaborative activities with other Scandinavian heritage programs, museums, festivals, etc. throughout the US and Canada that support participation with Norsk Høstfest and the Scandinavian Heritage Association
The evaluation, planning and implementation of new programs, projects, activities, and initiatives supporting educational, business or economic development programs with a Scandinavian theme or basis.
Please make gift to: HHF-Vision for the Future Endowment
Norsk Høstfest Endowment Fund (Chester and Joy Reiten Endowment Fund)
The fund establishes a permanent financial base to provide income and revenue to support Norsk Høstfest. It is named in honor and recognition of Chester and Joy Reiten’s vision for Norsk Høstfest as a time of community celebration and fellowship.
Please make gift to: HHF-Norsk Høstfest Endowment
Norsk Høstfest Endowment for Nordic Entertainment
The fund establishes a permanent financial base to provide income and revenue to annually support Nordic entertainment at Norsk Høstfest.
Please make gift to: HHF-Nordic Entertainment Endowment
Scandinavian Heritage Association Endowment Fund
The fund establishes a permanent financial base to provide income and revenue to annually support the programs, projects and activities of the Scandinavian Heritage Association.
Please make gift to: HHF-SHA Endowment
John and Olive Sinn Endowment for Park Maintenance and Buildings
The fund establishes a permanent financial base to provide income and revenue to support general Scandinavian Park maintenance and grounds keeping. It is named in honor of John and Olive Sinn whose dedication and work in building and maintaining the Park will serve generations of visitors.
Please make gift to: HHF-Sinn Park Endowment
Minot Area Community Foundation Partnership
The HHF is pleased to have partnered with the Minot Area Community Foundation by establishing a qualified endowment fund under their umbrella. This fund was established as part of the HHF’s discretionary endowment fund program and provides donors familiar with MACF another option in meeting their needs and permanently supporting the HHF mission.
Please contact: Minot Area Community Foundation 606 Burdick Expressway West – Suite A Minot, ND 58701-4218 Phone: (701) 852-0646 and ask about the Høstfest-Heritage Foundation Endowment Fund.
NOTE: To qualify for the ND Endowment Tax Credit your gift must meet the minimum requirement ($5,000) for a single endowment. You may not divide your minimum gift among several endowment funds to qualify for the tax credit. Høstfest-Heritage Foundation is a 501(c)(3) charitable nonprofit Federal ID No. 41-1960917.