Endow Iowa Tax Credit Program
The Endow Iowa Tax Credit Program was created by the Iowa Legislature in 2003 to encourage philanthropy for the benefit of Iowa citizens. The program includes a tax incentive program administered by the Iowa Economic Development Authority. By applying for the Endow Iowa Tax Credits, individuals, businesses and financial institutions can receive a State of Iowa tax credit equal to 25% of their eligible donations to a permanently endowed fund at a qualified community foundation or affiliate foundation (including the Story County Community Foundation). This Iowa tax credit is in addition to normal federal charitable deductions. Please note: A donor may not take both a state charitable deduction and receive the state tax credit for the same donation.
Tax credits are offered on a first come, first served basis, with $6 million available annually statewide.
Giving through the community foundation to the causes you care about is rewarding—in more ways than one. Your gift creates lasting change in the community, and the Endow Iowa Tax Credit Program offers you generous tax incentives to make it easier for you to give more for less.
The Endow Iowa program is part of an effort to enhance philanthropic activity in the State of Iowa by encouraging contributions to community foundations. The program provides significant additional tax incentives for individual, business or organizational donors of community foundations.
Endow Iowa helps build Iowa's Community Foundations
Endow Iowa strengthens communities through philanthropy. Endow Iowa endorses the importance of philanthropy and encourages all Iowans to invest in their communities through endowment funds. These funds are permanent resources that build the capacity for communities to become self-sufficient by providing financial support to charitable projects and community betterment programs now and in the future.
It helps develop local community leadership. Endow Iowa encourages leaders to mobilize community organizations and encourage charitable contributions. Community endowments help citizens promote, plan and prepare for the future and manifest their own community visions. More than 1,500 Iowa leaders are engaged in the community foundation movement annually.
It helps create philanthropic vehicles in communities of all sizes. Wealth often leaves Iowa’s communities and counties because there were no vehicles in place to receive gifts. Endow Iowa creates and provides the tools and vehicles to create endowment funds while strengthening existing community foundations. It is a low-cost way to positively impact Iowa forever.