Endow Iowa
Benefit from Endow Iowa!
Marion County Community Foundation (MCCF) is excited to announce that through our MCCF Endow Iowa Fund at the Community Foundation of Greater Des Moines, MCCF donors who make qualifying gifts may apply for Endow Iowa tax credits.
Endow Iowa allows taxpayers to take a 25% Iowa tax CREDIT in addition to the normal federal charitable income tax deductions for their charitable gifts.
Charitable gifts must be made:
- To a permanent endowment fund
- Through a qualified community foundation
- For the benefit of one or more Iowa charitable causes
- By individuals, corporations, or financial institutions
Below is an approximation of the net after-tax costs of contributing through Endow Iowa:
| Cash Gift | $1,000 | $10,000 |
|---|---|---|
| Less tax benefits: | ||
| Net Federal tax savings (assuming max. tax bracket) | -$350 | -$3,500 |
| Endow Iowa Tax Credit (before federal tax effect) | -$250 | -$2,500 |
| Net cost of contribution | $400 | $4,000 |
We encourage donors to consult with a tax advisor to review their individual circumstances.
Eligible gifts qualify for credits on a first-come-first-serve basis until the appropriated limit is reached.
This is an impactful way to support MCCF now and in the future. Endow Iowa is also available to donors who choose to support one of the local organizations with an established endowment through Marion County Community Foundation. Please contact us with any questions you may have about this generous philanthropic opportunity created by the Iowa legislature.
For more information and an application or for Endow Iowa tax credits, visit Iowa Community Foundations. Or for more information, please contact the Greater Des Moines Community Foundation’s Director of Affiliates Joseph Sorenson at 515.244.0020.