PRESS RELEASE

The Callaway Community Foundation is excited to announce that we have received $25,000 in tax credits from the Nebraska Department of Economic Development. These funds are issued to communities through the Community Development Assistance Act. Callaway was awarded these funds for the swimming pool project. The funding date runs from October 31, 2023, to October 30, 2024.

What does this mean for those wanting to donate to the pool? Should you wish to donate $5,000 or more, you will receive a 40% tax credit for the amount donated for your 2024 Nebraska income tax liability.

If you don’t owe that much for 2024, any tax credit balance may be carried over and applied against an individual’s or firm’s tax liability for the five consecutive years immediately following the tax year in which the credit was first properly claimed and allowed. This program is open to individuals, LLC companies and corporations. It’s a great way to both help with the pool project and pay less in taxes at the same time.

If you’re interested or know someone that might be, please visit with any member of the foundation board for more information or call Corby Leeper at 402-533-3961 to get signed up.

These funds can be issued for three years in a row but must be applied for each year.  To have a chance at the funds the second and third year, all funds for the 2024 year must be distributed. For all its benefits, the foundation board would encourage all pool supporters to check this program out.