Iowa community foundations grow by $100 million in past year
Aug. 16, 2011
The Iowa Council of Foundations, a statewide membership association of grantmaking foundations, has announced that community foundations in Iowa have reported $100 million in total asset growth between June 2010 and June 2011. The collective assets of Iowa community foundations grew to approximately $517.6 million in June 2011 (up from $417.6 million in June 2010). This represents growth of 20% in just 12 months.
Iowa's community foundation infrastructure includes approximately 130 community foundations that meet the national standards for U.S. Community Foundations or are affiliated with one that does.
"Community foundation growth is yet another representation of the generosity of Iowans. More donors are realizing the importance of supporting our community now and creating endowments to ensure the success of local communities in the future," said Kristi Knous, president and COO of the Community Foundation of Greater Des Moines.
Increased visibility and continued implementation of the Endow Iowa Tax Credit and County Endowment Fund programs have contributed to the growth of the community foundation field in Iowa. Angela Dethlefs-Trettin, executive director of the Iowa Council of Foundations, said, "This is an astounding testimonial to the power of community foundations across our state and the fortuitous investment made by our elected officials in supporting these incentive programs. Iowans care deeply about their communities and find partnerships with local community foundations as lasting ways to give back. This significant growth in assets will only multiply; overtime, more grant dollars will be generated through investments that will advance essential programming in all areas of community life."
Iowa community foundations are nonprofit organizations that focus on building local philanthropy by connecting people who care to the causes that matter most to them. Working together, community foundations and community members create long-term endowments that benefit nonprofit agencies, projects and programs. Community foundations provide a trusted and valuable resource to individuals, families, businesses, professional advisors, and nonprofit organizations.