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Tax Incentives

When you donate to a permanently endowed fund at a qualified community foundation, you’re not only helping your community today, you’re building a stronger community for tomorrow.  While that in itself is rewarding, with Endow Iowa, a $500+ contribution will make you eligible to receive a 25% tax credit for each donation, in addition, you may also qualify for federal tax benefits.  The Board of Directors encourages interested donors to consult with their tax accountant regarding their individual circumstances as the tax credit/benefits could differ from the following examples.

 

Example: 

 

Gift                                           $10,000                       $500                            $2,000

 

Endow Iowa Tax Credit           $  2,500                       $125                            $   500

Federal Tax Benefit up to       $  3,500*                     $175                            $   700

 

Total Credits                            $  6,000                       $300                            $1,200

 

Total Cost of Gift                     $  4,000                       $200                            $   800

 

*Based on 35% marginal federal tax rate