Do you have an accumulated balance in your account that isn't waiting for an apparatus or other major purchase?
Do you have a few significant supporters who might be interested in an additional State of Iowa tax break for a gift to your organization?
Does it sound nice to have a gift amount that you could count on year after year?
If you answered yes to any of these questions, and you are an IRS-recognized 501 (c) (3), your organization might be a good candidate for establishing a endowment through
your local community foundation to maximize the impact of the
Endow Iowa program. A video explanation of the program may be found
here.
Endowment accounts can be opened for less than you might think. Once your endowment is established, you will be able to count on a percentage of that principal supporting your operations every year in perpetuity. Talk about a gift for the future of the community!
Qualified Endow Iowa gifts receive a 25% State of Iowa tax credit in addition to the normal charitable income tax deductions. Donors with appreciated stock can avoid capital gains tax and receive even greater state benefits through a stock gift to an Endow Iowa qualified account. These credits make the net cost of a gift significantly smaller than the original amount.
Some of the requirements of the program include:
- Gifts must be made to a permanent endowment fund at a qualified community foundation
- Endowments must benefit one or more Iowa causes
The State of Iowa Legislature established the Endow Iowa program in the early 2000's. It has resulted in an investment of more than $50 million to benefit great causes in our wonderful state for so many tomorrows.
Ready to start growing your organization's future? Contact your local community foundation to learn more about how Endow Iowa can benefit your donors, your community and your organization.