Yes. As the criteria for certification for a community foundation and education foundation are substantially similar, the Department of Treasury's Technical Services Division will administer the certification process for both types of foundations. An application for certification as a qualified education foundation (Form #4629) is made available on Treasury's web site each year no later than January 1st, remaining until the filing deadline of April 1st.

The Technical Services Division's review will include the criteria shared by each foundation that they must:

• Qualify for exemption from federal income taxation under sec. 501(c)(3) of the Internal Revenue Code (IRC);
• Maintain an ongoing program to attract new endowment funds from a wide range of potential donors in the community or area served;
• Meet federal treasury regulations for being publicly supported and treated as a single entity;
• Be incorporated or established as a trust at least 6 months before the beginning of the tax year for which the credit is claimed;
• Have an independent governing body representing the general public's interest and that is not appointed by a single outside entity;
• Be subject to a program review each year and an independent financial audit every 3 years, and provide copies of the same to the Department not more than 3 months after the review or audit is completed.

Criteria unique to a community foundation are that it must:

• Reach a minimum endowment value of $100,000.00 before the expiration of the 18-month period after the community foundation was incorporated or established;
• Support a broad range of charitable activities within the specific geographic area that it serves;
• Submit to the Department annually documentation that it is publicly supported pursuant to federal treasury regulations;
• Not be a supporting organization as an organization is described in sec. 509(a)(3) of the IRC and in 26 Code of Federal Regulations 1.509(a)-4 and 1.509(a)-5;
• Have, before the expiration of 6 months after it is incorporated or established; at least 1 part-time or full-time employee and continually maintain the same;
• Submit to the Department annually an independent financial audit if it has an endowment value of 1 million dollars or more;
• Operate in a county of Michigan that was not served by a community foundation when the community foundation was incorporated or established after January 9, 2001, or operate as a geographic component of an existing certified community foundation.

The criterion unique to an educational foundation is that all funds are exclusively dedicated to a school district or public school academy.

A community foundation must apply to the Technical Services Division for certification on or before May 15 of the tax year for which the taxpayer is claiming the credit. The application deadline for certification for an education foundation is on or before April 1 of the tax year for which the taxpayer is claiming the credit. The application Form #4629 will be found under the "forms" tab on Treasury's web site at www.michigan.gov/treasury.

A taxpayer that is also subject to the Michigan Income Tax Act of 1967, MCL 206.1 et seq., who has made a contribution to a certified community foundation endowment fund, may choose to claim a credit on the individual income tax return or the Michigan Business Tax (MBT) return, but not both.

However, a credit for a contribution to a certified education foundation endowment fund is available only under the MBT.