Endow Iowa Tax Credits

The Community Foundation of Greater Des Moines is a qualified community foundation that provides access to Endow Iowa Tax Credits.  Endow Iowa allows taxpayers to receive a 25% Iowa tax credit in addition to normal federal charitable income tax deductions for certain charitable gifts. 


Since the inception of the Endow Iowa Tax Credit Program, Iowa Community Foundations have leveraged more than $191,000,000 in permanent endowment fund gifts. The contributions have been made through more than 25,000 donations.

How it works

  • A variety of gifts qualify for Endow Iowa Tax Credits including cash, real estate, appreciated securities and outright gifts of retirement assets.  
  • Tax credits of 25% of the gifted amount are limited to $300,000 in tax credits per individual for a gift of $1.2 million or $600,000 in tax credits per couple for a gift of $2.4 million if both are Iowa taxpayers.
  • Eligible gifts will qualify for credits on a first-come/first-serve basis until the yearly appropriated limit is reached.  If the current available Endow Iowa Tax Credits have been awarded, qualified donors will be eligible for the next year's Endow Iowa Tax Credits.  The Community Foundation encourages donors to act early in the year to ensure they receive Endow Iowa credits.  
  • All qualified donors can carry forward the tax credit for up to five years after the year the donation was made.
  • Endow Iowa Tax Credits allow donors to have even greater impact on their philanthropic interests in Greater Des Moines now and into the future.

We encourage donors to consult with tax advisors to review their individual circumstances.

 

 

Examples of tax saving

Cash gift (examples of different amounts)            

$1,000    

$10,000   

$100,000   

 Less tax benefits

     
  • Net federal tax savings
    (approximated assuming maximum tax bracket)

 -350

 -3,500

  -35,000

  • Endow Iowa Tax Credit
    (before federal tax effect)

  -250

  -2,500

  -25,000

Net cost of contribution  

 $400

  $4,000

  $40,000

 
*The above illustration assumes an individual is in the 35% federal tax bracket




For more information

Sheila Kinman, CAPĀ®

Chief Advancement Officer

kinman@desmoinesfoundation.org

Phone (515) 447-4207