Growing Community
Endow Iowa
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 two components: (1) tax credits to donors, and (2) The County Endowment Fund.
ENDOW IOWA TAX CREDITS
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)] authorizes $2 million, plus a very small percentage (less than 1/10 of 1%) of state gambling revenues, for Endow Iowa Tax Credits annually.
The following is a summary of the credits awarded in calendar year 2010 ending December 28, 2010 (the full report will be updated in January, 2011):
- $2,015,861 in Endow Iowa tax credits was awarded.
- The tax credits leveraged more than $8 million in charitable giving.
- The $8 million in donations went to at least 13 different community foundations and/or community affiliate organizations.
- The $8 million in donations was comprised of 1265 separate donations.
COUNTY ENDOWMENT FUND
In this program, the State of Iowa provided over $ 3,700,000 to 16 different community foundations in the state. Seventy-five (75) percent of the funding must be granted out to charitable organizations and the remaining twenty-five (25) percent must go into permanent endowment fund. In the most recent year of grant awards (2009), 1993 grants were made totaling more than $9.8 million. The Iowa Council of Foundations and the Iowa Gaming Commission has prepared a report detailing all 1993 grants. The report is entitled “Building Iowa’s Communities through Philanthropy” and will be available from IDED, the Iowa Council of Foundations or the Iowa Gaming Commission.
Searchable Database
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.