Endow Iowa Tax Credits

Nov 29, 2015

We have much to be thankful for at the Community Foundation of Johnson County. We are especially thankful for our generous donors who support the causes they care about. We are grateful the Iowa Legislature offers an Endow Iowa program that provides tax credits to donors for their gifts to endowed programs at community foundations across the state. Unfortunately, the available tax credits for 2015 calendar year have been exhausted. Not to worry because donations made through the end of the year will qualify for tax credits and will be carried into the 2016 year.

Endow Iowa tax credits have encouraged the growth of community foundations including CFJC. The benefit of the Endow Iowa tax credit program are many:

• Strengthens communities through philanthropy by encouraging Iowans to invest in their communities through endowment funds. The 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.
• Develops local community leadership by encouraging citizens and residents to mobilize community organizations and encourage charitable contributions. Citizens promote, plan and prepare for the future and establish their own community visions. More than 1,500 Iowa leaders statewide serve on community foundation governing bodies.
• Creates philanthropic catalyst throughout Johnson County. By establishing local community foundations citizens have opportunities to provide tools to create endowment funds that strengthen their community now and in the future.

Endow Iowa tax credit programs have helped the Community Foundation of Johnson County grow to $20 million in assets in a 15-year period. Yes, CFJC has a lot to be thankful for, and we appreciate all you do for your community.

Community Foundations of Iowa and local community foundations, such as CFJC, are asking Iowa Legislators to increase annual Endow Iowa tax credits available in 2016 from $6 million to $8 million to keep up with the demand of this worthwhile program.

Have a wonderful holiday season!

Category: What's New