Webster City (IA) – Improving quality of life does not happen overnight. It takes leadership, planning and investment from many to develop our communities into places we are proud to call home. Iowans have time and again shown their commitment to the causes and communities they care about by providing the financial support necessary to turn dreams into realities, helping neighbors in need and investing in the future of our state. For over 10 years Iowa has rewarded such investments with a 25 percent state tax credit called the Endow Iowa Tax Credit program.
Endow Iowa promotes gifts to permanent endowments for Iowa charities by awarding 25 percent of the amount donated as a state tax credit when making a gift through an Iowa community foundation to qualified funds. The goal of the program is simple – allow citizens an opportunity to make meaningful gifts benefitting their communities and the causes they care about for generations while receiving a tax credit today in recognition of the investment.
“Utilizing the Endow Iowa Tax Credit program makes sense when considering how to maximize the effectiveness of your charitable giving,” said Darcy Swon, Enhance Hamilton County Foundation Development Director. “By giving an annual contribution to the organization of your choice’s endowment fund through the Enhance Hamilton County Foundation, the impact of the gift will benefit the cause for years to come. A single gift will grow and offer more support than could otherwise be provided and, with the 25 percent state tax credit, it will cost you less to give more financial support. It is a win-win strategy.”
Endow Iowa serves as a national model of what is possible through collaboration. The support of this program by state government, the nonprofit sector and private donors is ensuring the services provided by Iowa’s charitable organizations will continue for years to come. This forward thinking and collaborative approach is creating impact. Since 2003 the Endow Iowa Tax Credit program has leveraged more than $167 million in gifts to permanent endowments. Endow Iowa gifts continue to grow as the endowments are professionally invested and managed to ensure sustainable support for nonprofits in our state.
Tax credits available through the Endow Iowa Tax Credit program are limited to six million dollars annually and are on a first-come-first-serve tax basis. Locally, the Enhance Hamilton County Foundation provides giving experts to assist in facilitating personalized gifts to Endow Iowa qualified funds. The Enhance Hamilton County Foundation also works with donors to ensure the assets used to provide charitable support maximizes tax savings, while meeting personal charitable and financial goals.
For more information on the Endow Iowa Tax Credit Program or the Enhance Hamilton County Foundation, visit enhancehamiltoncounty.org or contact Darcy Swon, Development Director, at 515-835-0437.