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Revenue Administrative Bulletin 2023-20

List of Certified Community Foundations for Tax Year 2023 Michigan Business Tax Credit

Approved: October 27, 2023

RAB 2023-20.  This bulletin lists the names, addresses and phone numbers of the community foundations that have been certified by the Department of Treasury for tax year 2023 in accordance with Section 425 of the Michigan Business Tax Act (MBTA), MCL 208.1425. Qualifying business taxpayers that elect to file returns under the MBTA for tax year 2023 are eligible to take a credit for contributions made to endowment funds held by community foundations certified by the Department of Treasury. The individual income tax credit formerly available to taxpayers who made contributions to endowment funds held by certified community foundations is no longer available; it was repealed by 2011 PA 38.

A taxpayer that contributes to a certified community foundation may claim a credit against the MBT liability equal to 50 percent of the taxpayer’s contribution, up to $5,000.00 or 5 percent of the tax liability, whichever is less. This is a non-refundable credit.

The Department of Treasury has certified the following the Community Foundations for tax year 2023:

Community Foundation of the Holland/Zeeland Area
85 East Street Suite 110
Holland, MI 49423

Grand Haven Area Community Foundation
One South Harbor Drive
Grand Haven, MI 49417
geographic component funds:
Allendale Community Foundation
Coopersville Area Community Foundation

Otsego Community Foundation
316 West Main Street
Gaylord, Michigan 49735