CHTC Establishes an Endowment Fund
The Copper Harbor Trails Club (CHTC) has etablished an endowment fund
within the Keweenaw Community Foundation (KCF). The KCF is a non-profit, community corporation created by and for the people of Houghton and Keweenaw Counties and is here to help donors make a positive impact on our community.
The KCF does this by helping a variety of non-profit groups as well as
individuals to set up and operate permanent investment funds that provide
grants to pay for local grants now and into the future. By acting
together a partners with the KCF, charitable donors and organizations can
maximize their long-term contributions to the community while minimizing
their costs of doing so. The KCF is governed by volunteers, including a
board of trustees representing a variety of community interests and is
advised by professionals in fields such as finance, accounting and law and
by the organizations it serves.
The purpose of the Copper Harbor Trails Club Endowment Fund is to provide
long-term support and capital development funds for the acquistion of
property, promotion, develpment and maintainence of public human-powered
trails in Keweenaw County.
In particular, the CHTC intends to utilize a large percentage of the
revenues generated for its on-going pursuit of land acquisition projects
to secure the future permanent public access to the trails. This includes
securing properties that host existing trails and those for future trail
development, including but not limited to the Keweenaw Point Trail
project, Keweenaw County/ Mountain Lodge trail expansion (summer and
winter trails) and the Keweenaw Ridge Trail project.
Michigan Tax law permits individuals and businesses to reduce their
Michigan income tax or single business tax by a credit of up to 50% of the
amount contributed to the CHTC Endowment Fund. Additional Federal tax
deductions apply as a tax-deductable non-profit organization. Check with
your professional advisor as to how these benefits apply to you.
More info about the Keweenaw Community Foundation at www.k-c-f.org