Capital Campaign: Frequently Asked Questions
FAQ’s – Capital Campaign
What is the timeline to make and fulfill pledges to KSUT’s capital campaign?
We anticipate accepting capital campaign pledges through the end of 2018, which would be payable by December 31, 2021.
What are the conditions of the Southern Ute Campaign Match?
On June 27, 2017, the Council of the Southern Ute Indian Tribe passed a resolution (No. 2017-129) authorizing a payment of $1 million in direct financial support for KSUT’s capital campaign. That gift was made as an all-or-nothing match, meaning KSUT must raise an additional $1 million in gifts and pledges to demonstrate community support for the project. If we fail to raise that $1 million by October 1, 2018, the Tribe will withdraw its offer of financial support.
Commitments received prior to June 27, 2017 will not be counted toward our $1 million matching goal.
How does my campaign gift differ from my regular annual giving?
The grassroots support of over 2,000 individuals and businesses sustain KSUT’s ongoing operations and programming. A gift to KSUT’s Securing Our Future Capital Campaign is different in that capital gifts are long-term investments in our future capacity to operate. A capital gift today will help us renovate our new home, replace outdated equipment, and provide seed funding for new programming and training initiatives.
For the first time in our 42-year history, we turn to our supporters and ask for a either a one-time gift in addition to regular membership support, or if a sustaining member already, to consider an additional monthly pledge in support of the campaign, payable over the next three years.
How is an Enterprise Zone (EZ) tax credit different than a normal charitable deduction?
Charitable gifts may be used decrease your tax liability by lowering your adjusted gross income when filing taxes and itemizing deductions. A tax credit is applied directly against your calculated tax liability and may be claimed even by taxpayers using the standard deduction. The difference in how credits are calculated and applied mean that they have a greater impact on high income individuals for whom aggregate deductions are capped and those who do not itemize deductions on their tax returns. Most importantly, donors are able to combine all three opportunities to reduce their tax liability — federal tax deduction, state tax deduction, and Colorado EZ tax credit.
What are the conditions required to qualify for an EZ tax credit?
Most but not all gifts to the KSUT capital campaign should qualify for EZ tax credits:
• Donors would need to have either individual or business tax liability to the state of Colorado.
• Gifts of between $250 and $400,000 in a single tax year are eligible to receive a tax credit; credits exceeding a donor’s tax liability in a given year may be carried forward for up to five years.
• Gifts restricted to Phase II and Phase III priorities would NOT qualify. Tax credits are limited to the renovation of the Eddie Box Jr. Media Center and both restricted gifts to the building project or unrestricted gifts to the
campaign would qualify.
• In-kind gifts are eligible for half of the credit amount as a cash donation (12.5% vs. 25%).