Illinois Gives Tax Credit Act
Strengthen Lake County. Strengthen Illinois.The Lake County Community Foundation (LCCF) is excited to announce a new opportunity for donors to make a lasting impact right here in our community through the Illinois Gives Tax Credit Act (HB4951 / Public Act 103-0592, Article 170).
What Is the Illinois Gives Tax Credit?
New in 2025, this innovative state program provides a 25% State of Illinois income tax credit to donors who contribute an eligible gift to a qualifying permanent endowment at a qualified Illinois community foundation, including The Lake County Community Foundation.
This means you can grow philanthropy in Lake County and receive significant Illinois tax benefits at the same time.
This is a limited-time opportunity as the state has capped the total amount of available tax credits each year. Credits will be awarded on a first-come, first-served basis, so we encourage donors to plan early and act quickly.
Your gift will build permanent resources that ensure Lake County nonprofits can thrive for generations to come.
How it Works
- Receive a 25% Illinois state income tax credit on eligible gifts to a qualified endowment.
- Individuals can earn up to $100,000 in tax credits per year (for a $400,000 gift).
- Couples filing jointly can earn up to $200,000 in tax credits per year (for an $800,000 gift).
- Credits carry forward up to five years if you can’t use them all in the current year.
- Credits are not transferable.
- Gifts from donor advised funds or private foundations do not qualify.
Eligible Gifts
To qualify, your gift must be made to a permanent endowment at a qualified community foundation that benefits charitable causes exclusively within Illinois.
At The Lake County Community Foundation, you can:
- Contribute to one of LCCF’s existing permanent endowments that strengthen nonprofits across Lake County.
- Establish a new qualifying endowment that supports the local causes you care about most, like food or housing security, mental and physical health, education, youth development, economic opportunity, environment and more.
Getting Started: Step-by-Step
Interested in learning how to take advantage of the Illinois Gives Tax Credit? We’re here to help you every step of the way.