Federal: The IRS has given the Community Foundation for Western Iowa full nonprofit status with its 501(c)(3) designation. This allows all donations given to the Community Foundation to be fully tax deductible, as allowed by law.
State of Iowa: The Endow Iowa Tax Credit program allows donors who give to an Endow Iowa qualified fund to be eligible to receive a 25% tax credit in addition to federal charitable income tax deductions.
If these popular tax credits are expended, the donor is placed on a list to receive credit the following year.
This benefit is only allowed through community foundations meeting national certified standards in Iowa, such as the Community Foundation for Western Iowa.
the community foundation's Added 10% Match
Community Foundation for Western Iowa is currently offering a 10% match* (up to $250,000 per fund) as an additional contribution for the creation of a charitable endowment fund or donation to an existing eligible endowment fund.
*Matching funds are offered when available and may be suspended at any time due to changes in the market.
Below is an example of the approximate benefits of starting or contributing to a fund:
With gifts of appreciated assets, the net cost could be even lower if capital gains taxes and/or alternative minimum taxes are avoided.
If you have questions, are interested in establishing an endowment fund
or would like a copy of our gift and fund acceptance policies please contact our office at
712-256-7007 or via e-mail at firstname.lastname@example.org.
* Our contribution is offered for a limited time and our policy of awarding additional funds can change without notice.
Tax information provided by the Community Foundation is purely informational and should not be taken as tax advice. We encourage donors to consult with a tax advisor to review their individual circumstances/tax bracket. The Community Foundation for Western Iowa also has a strict confidentiality policy, including donor privacy. A copy of this policy may be requested by calling 712-256-7007.