Oregon Business Association

October 23, 2008

Venture Fund: Help Grow Our Economy and Receive a 60% Tax Credit

By Senator Frank Morse (R - Corvallis/Albany)

A new pharmaceutical compound developed at a university lab will soon be commercially available, entering a rapidly growing industry expected to surpass $5 billion within five years.

This innovation, a new organic catalyst—a chemical that is used to help produce chiral drugs—is more effective, inexpensive, and environmentally-friendly than its competitors.  But it might have never made it out of Professor Rich Carter's lab at Oregon State University if it weren't for donations to the University Venture Development Fund.

Created by the state legislature, the University Venture Development Fund offers a 60 percent tax credit to Oregon's corporate and individual taxpayers who contribute to the program, which is designed to fast-track commercialization of research discoveries at eight Oregon universities.

Investing in university research through the Venture Fund enables donors to stretch their charitable gifts through an Oregon income tax credit.  Unlike a tax deduction, a credit reduces the amount of tax you owe.  That's in addition to federal tax deductions.  For some donors, that can mean as little as 5 to 10 percent out of pocket for their gift.

Already the Venture Fund is seeing real results as evidenced by Professor Carter's project, and that is just one of six projects that received awards at OSU this summer.  The University of Oregon has made grant awards as well, including a project that is pursuing a new means of low-cost, high-efficiency lighting.

These are exciting innovations that will grow our economy, strengthen our universities and improve lives.  And there will be many more to come as we raise more support for the Venture Fund.  Donors can designate their gifts to any of the eight universities involved or to all of them.

The University Venture Development Fund is a unique opportunity to accelerate the commercialization of research, increase royalty income back to the universities, and make a near zero cost donation to the university of your choice. 

As an alumnus, it was a “no brainer” for me to make a gift to Oregon State’s University Venture Development Fund.  I encourage corporations and individuals to do likewise. 

Click here to make a contribution or learn more about the University Venture Development Fund.

Frank Morse was elected to the Oregon Senate in 2002 and currently serves as Vice-chair of the Senate Finance & Revenue Committee.