Iowa has two legislative programs in existence related to Community Foundations.
Iowa was created to enhance the quality of life for the citizens of this
state through increased philanthropic activity by encouraging new investments to
existing community foundations and facilitating the creation of new community foundations;
the program does this by awarding Endow Iowa Tax Credits. In addition to the Endow
Iowa Program, the County Endowment Fund Program also works to build the capacity
of local community foundations by focusing specifically on the countywide community
foundations located in counties that do not hold a state issued gaming license.
Endow Iowa Tax Credits are state tax credits provided to individuals or businesses
that donate to permanent endowment funds at qualified community foundations or community
affiliate organizations serving the communities of Iowa. The Iowa Code (15E.305(2))
authorized $2 million for 2009, plus a very small percentage (less than 1/10 of
1%) of state gambling revenues.
The following is a summary of applications received by the IDED through 12/31/09
(some additional 2009 awards will be made in the coming weeks as paperwork
for donations might not be received by the IDED until several weeks or more after
the donation is actually made):
In this program, the State of Iowa provided over $11 million to 85 countywide, community
foundations in the state. 75 percent of the funding must be granted out to charitable
organizations and the remaining 25 percent must go into a permanent, unrestricted
endowment fund. In the most recent year of grant awards (2009), 2,244 grants
were made totaling more than $8.4 million. Collectively the Program generated
more than 3,095 applications seeking funding of approximately $19.7 million for
a wide range of needs. The Iowa Council of Foundations and the Iowa Gaming
Association has prepared a report detailing all 2,244 grants. The report is
entitled “Building Iowa’s Communities through Philanthropy” and
is available from IDED, the Iowa Council of Foundations or the Iowa Gaming Association
beginning at the end of January 2010.
Endow Iowa was created to enhance the quality of life for the citizens of this state through increased philanthropic activity by encouraging new investments to existing community foundations and facilitating the creation of new community foundations. The program includes tax credits to donors and grants to newly formed community foundations (or affiliates). View the Searchable Project Portfolio.