Frequently Asked Questions
|
| Who is the McCall-Donnelly Education Foundation? The McCall-Donnelly Education Foundation (MDEF) is an organization of parents and patrons of the McCall-Donnelly School District. MDEF raises money to fund science, technology, music, arts and enrichment programs, and to purchase resources for our schools. |
| Is the McCall-Donnelly Education Foundation a part of the school district? No. MDEF is an independent, tax-exempt foundation with it's own board of directors and officers. The MDEF Board works in partnership with school administrators, teachers and students to determine the best ways to allocate the donations to enhance and preserve the basic curriculum. |
| Who runs the McCall-Donnelly Education Foundation? The MDEF Board of Directors governs the Foundation, each member serving two year terms. The Board is an independent volunteer body with powers and duties to provide fiscal guidance and governance for the Foundations. |
| Is the McCall-Donnelly Education Foundation involved in setting school policies? No. The MDEF is not involved in setting the governance or curriculum goals of the District. |
| What is the relationship between MDEF and other fund raising organizations in the District? MDEF is not affiliated with and tries not to duplicate programs supported by the PTA, McCall-Donnelly High School Boosters Club, or other program-specific groups that provide social, educational offerings to the district schools. |
| How does MDEF benefit our community at large? Providing funds for academic and enrichment programs for McCall-Donnelly will benefit our community as a whole. Great schools bring with them greater pride, increased safety and vitality to our area. A growing positive reputation of our schools makes our community a more desirable place to live. |
| Where do I send my donation? You may send a check to the McCall-Donnelly Education Foundation, P.O. Box 3048, McCall, Idaho 83638. |
| Where do the proceeds from the sale of Images of McCall, Valley County and Beyond go? We are incredibly proud of our first endeavor! The costs of publishing this book are entirely underwritten — all sales proceeds will be used to benefit the students. |
If I am an Idaho resident do I receive a tax credit for my donation? Idaho Code provides that a donation to MDEF is not only deductible on both state and federal tax returns, but also qualifies the donor for a 50% tax credit. For example, what is my out-of-pocket cost for a $400 contribution? See Idaho Tax Code 63-3029A. Assuming you are in the 28% tax bracket, filing a joint return, your net out-of-pocket expense is:
|
Federal deduction tax savings |
$112.00 |
State deduction tax savings |
$31.00 |
State Tax Credit tax savings |
$200.00 |
Total Tax Savings |
$343.00 |
Net out-of-pocket expense |
$57.00* |
* Figures are for demonstration purposes only. Please contact your professional tax advisor.
|
