New and innovative opportunities for charitable giving are now available for donors through a program created by Iowa legislation in 2005 called Endow Iowa.

Endow Iowa was created to enhance the quality of life for the citizens of this state through increased philanthropic activity by encouraging contributions from individuals, businesses, and organizations to new and existing community foundations. This handout is available for your use SCF EndowIA flyer ’15

With Endow Iowa, you can give and receive.

When you donate to a permanently endowed fund at a qualified community foundation, you’re not only helping your neighbors today—you’re building a stronger community tomorrow. And while that in itself is rewarding, with Endow Iowa, you’ll also get back for giving. 

Beginning January 1, 2010, you will be eligible to receive a tax credit for each donation, up from the 20% credits previously offered. The tax credit is in addition to any federal tax benefits you may qualify for.

Charitable gifts must be made:

  • To a “qualified” community foundation (Siouxland Community Foundation is a “qualified” community foundation that meets National Standards).
  • To a permanent endowment fund (existing or newly established) within the Siouxland Community Foundation. Start an endowment fund for as little as $5,000.
  • For the benefit of one or more Iowa charitable causes.
  • By Iowa taxpayers – individuals, corporations, or financial institutions.

The tax credit:

  • Cannot be used against prior year’s taxes. Iowa taxpayers may use the tax credit the year of receipt of the tax credit letter from the Iowa Economic Development Authority. Excess credit may be carried forward for up to five years.
  • Is issued on a “first come, first serve” basis with approximately $6 million in tax credits available.

With Endow Iowa, donations to community foundations cost donors less.

For example:
Gift: $500
Tax Credit: $125
Federal Deduction: $175
Total Tax Savings: $300
Total Cost of Gift: $200

Gift: $5,000
Tax Credit: $1,250
Federal Deduction: $1,750
Total Tax Savings: $3,000
Total Cost of Gift: $2,000
*Based on 35% marginal federal tax rate

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