Starting a Fund - Story County Community Foundation | Grants & Tax Credits

Starting a Fund

1.    Consider Your Goals

Discuss your philanthropic interests with family members—and the tax advantages with your financial advisers.

2.    Choose A Gift

Decide what, when and how much is right for you. In most cases, you receive tax benefits the year the gift is made. Endow Iowa tax credits can be used for up to five years.

3.    Select the Type of Fund

Determine the type of fund that best addresses your needs and interests.

4.    Name Your Fund

Use your name, a family name, a corporate name or honor someone special by establishing a lasting legacy for them. The fund can also be anonymous.

5.    Create the Fund

Complete the simple fund agreement with our staff. The agreement will serve as the guideline for grants made from your fund now and forever once the minimum required contribution is received.

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Seed Funds

A Seed Fund allows you to begin a fund on a smaller scale and build it as you are able. You make an initial contribution of $1,000 and pledge a minimum annual contribution of $600 to build your Seed Fund.  Once $10,000 is accumulated via gifts and income, the Seed Fund matures to a charitable endowment (most commonly a donor advised fund) from which you are able to suggest annual distributions to support the causes or charities you care about.

For more information about seed funds--click here


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