Freedom Rowers, an Easton-based youth rowing team that attracts area athletes from the sixth through twelfth grades, will meet with Governor Martin O’Malley on Monday, March 22, 2010 at 5:15 pm at the State House in the Governor’s Reception Room on the second floor.
The purpose of the visit will be for the rowers to present the Governor with thank you notes as a result of the State of Maryland offering the team State Tax Credits through their Community Investment Tax Credit program. The importance of this tax credit is twofold. First, it marks the first year that the tax credit is being extended to individuals, whereas in the past, only businesses could take advantage of the program. Second, Freedom Rowers is the only program in Talbot County this year to be granted the right to extend a tax credit to donors.
The State awarded Freedom Rowers participation in this program so the organization has the ability to encourage community-minded individuals (as well as businesses) the opportunity to invest and support the rapidly-growing, community-focused, and youth-enriched team. Individuals or businesses that donate to the team can earn tax credits equal to 50 percent of the value of the funds contributed. These tax credits are in addition to deductions on both Federal and State taxes as a result of the charitable contribution. Based on the income and tax structure of the individual or business, the net cost of the donation could be as low as $0.27 for every $1.00 contributed. Contributions of money, goods or real property worth $500 or more are eligible for tax credits. Individuals and businesses may claim a maximum of $250,000 in tax credits per year, representing $500,000 in contributions.
About Freedom Rowers
Freedom Rowers (http://www.freedomrowers.org) is an Easton-based youth rowing team that includes 36 Talbot and Queen Anne’s County athletes from the sixth through twelfth grades. Established in 2004, the team is led by head coach, founder and veteran rower Diana Lobien. A strong competitive team, Lobien instills a sense of teamwork, pride, challenge, success and community support and partnerships in all the rowers. To learn more about Freedom Rowers contact Mary Ann Henker of The Henker Group, at 410.253.7023 or mahenker@thehenkergroup.com.