LARNED — Kim Barnes, Pawnee County Cooperative Association CFO, said contributing tax credits to help purchase a CT scanner for Pawnee Valley Community Hospital makes perfect sense.
His company presented a $75,000 check Thursday during the weekly Larned Chamber Coffee that signifies the contribution his business will make in 2011. The business receives a 70 percent tax credit on the donation.
“Tax credits like this can give the local community some help,” Barnes said. “I’d much rather know that a tax contribution is coming back locally to Pawnee County to help with a Community Health Organization project.”
The Pawnee Valley Community Hospital (PVCH) will use tax credits to fund the purchase of a 16 slice CT scanner to replace their current 4-slice CT scanner. Patient care efficiency and quality will improve as a result of the award.
Matt Heyn, hospital administrator, said PVCH rents a CT scanner for $11,000 a month. Buying such a machine makes fiscal sense.
“It’s a wonderful thing that businesses and individuals are helping out,” Heyn said.
A total of $149,000 in Community Service Tax Credits continue to be offered in 2011 to help fund a new CT scanner for Pawnee Valley Community Hospital. The minimum donation to receive a tax credit is $250.
The Pawnee County Community Health Organization (CHO) is the repository for all donations qualifying for the state tax credits. The CHO was awarded $250,000 in tax credits by the Kansas Department of Commerce in 2010. The tax credits offer a direct reduction of 70 percent of the donor’s final state tax obligation.
CPA firm VonFeldt, Bauer & VonFeldt manages the tax credits for the CHO. So far, Ray Moeder, accountant, reports that a total of $357,000 in donations is required to meet the $250,000 in tax credits over an 18-month period.
So far, Moeder said donations have reached $163,800 and additional pledges are $43,500, leaving $149,000 of donations left to go.
“We’ll continue to make a push because we have 18 months for the tax credits,” Moeder said.
Anyone interested in learning about the tax credits can contact Moeder (620) 285-2107; or Heyn at PVCH (620) 285-3161.
The Kansas Department of Commerce awarded $4.13 million in Community Service Tax Credits to 21 nonprofit organizations in 2010 that is extended for a 18-month period.
“We’re excited to award tax credits to these deserving organizations,” said Bill Thornton, Kansas Department of Commerce secretary. “These tax credits are a great way to spur investment in community improvement projects across the state.”
These future Kansas income tax credits are a major fundraising tool for community organizations engaged in services for children and families, health care or crime prevention. Businesses and individuals who contribute to the awarded organizations are eligible for a 70 percent tax credit in rural areas.
The Community Service Tax Credit Program is a way for charitable organizations and public health care entities to improve their ability to undertake major capital fund-raising drives for projects involving children and family services, non-governmental crime prevention and health care.
Each year, non-profit community service organizations submit proposals to the Department of Commerce. If the organization is awarded tax credits, it is then authorized to offer tax credits to donors making contributions to the approved fundraising project.
Pawnee Valley Co-op boosts tax credits
CT scanner being bought