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.
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 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*****|
*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.