Endow Iowa Program

Endow Iowa Tax Credits

Because GPCF is an accredited community foundation, every permanently endowed fund at GPCF qualifies for the Endow Iowa Tax Credit program.

The most powerful component of the Greater Poweshiek Community Foundation is building a permanent collection of endowed funds which benefit residents today and in perpetuity.

The tax credit offers donors generous tax incentives to make it easier to give more for less.

The tax credit is for 25% of the amount of the donation, up to a maximum of $300,000 credit per taxpayer.

Eligible gifts qualify for tax credits on a first-come/first-serve basis until the yearly appropriated limit is reached.

Since 2003, more than $38 million has been invested in community foundations through Endow Iowa, improving residents’ lives both now and for years to come.

Approximately $6 million in tax credits have been available annually through Endow Iowa.

Endow Iowa Tax Credit Changes in 2023

The Iowa Economic Development Authority will be discontinuing a waitlist for the Endow Iowa Tax Credit program as of July 1, 2023. Applications for gifts given will be accepted until 11:59 pm on June 30, 2023. GPCF is requesting that all donors return their Endow Iowa Tax Credit forms to the Foundation Office by June 15, 2023 to ensure they are added to the waitlist prior to its closing. Gifts given to an endowed fund at an eligible Iowa community foundation on July 1, 2023 through December 31, 2023 will likely not be eligible for a tax credit but more information will be available after the 2023 Iowa Legislature convenes. We hope that Endow Iowa Tax Credits will begin to be offered again for gifts given to endowed funds at eligible Iowa community foundations, like GPCF, after January 1, 2024 with more definitive information being available after the 2023 Iowa Legislature convenes.

Learn More

For more information about Endow Iowa or establishing a fund at GPCF, contact Nicole Brua-Behrens.

CONTACT NICOLE

How Tax Credits Work

Endow Iowa Tax Credits allow donors to have even greater impact on their philanthropic interests in Poweshiek County now and into the future.

Tax credits are givent for 25% of the gifted amount.

Tax credits imited to $300,000 per taxpayer or $600,000 per couple if both are Iowa taxpayers

Eligible gifts will qualify for credits on a first-come/first-serve basis.

GPCF will automatically send an Endow Iowa Tax Credit application for gifts of $100 or more. For gifts below $100, please contact GPCF to request a form

Qualified donors have five years to use their Endow Iowa Tax Credits.

Tax Credit Example

This is an exciting program that benefits both donors and charities. Below is an approximation of the net after-tax costs of contributing to a fund. Donors should contact their professional advisors to confirm accuracy.

Amount of Gift	$10,000
Endow Iowa Tax Credit	$2,500*
Net federal deduction	$10,000**
Donor’s federal tax rate	39.6%***
Federal tax savings	$3,960****
Net Cost of Gift	$3,540*****
Total Savings	$6,460

*25% of the charitable gift made to a permanently endowed fund at a community foundation.
** The entire amount of the gift is deductible on federal taxes.
*** Individual marginal tax rates may vary.
**** Assumes that individual taxpayer utilizes Schedule A (itemized deductions) on their federal return.
***** Gift appreciated securities and your net cost is even less.

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