Foundation for the Future of Delaware County Leaders Advocate for Endow Iowa

Representatives from the Foundation for the Future of Delaware County (FFDC) and the Community Foundation of Greater Dubuque (CFGD) met recently with Iowa State Senator Dan Zumbach at his farm near Ryan to discuss the influential role the 25% Endow Iowa State Tax Credit has had on the growth of local resources through endowment funds in Delaware County.

Nancy Preussner, FFDC donor connections coordinator, and MJ Smith, CFGD director of affiliates, shared important statistics. In 2017, FFDC endowment funds paid out more than $114,000 to Delaware County nonprofits, and in 2018, it is projected that more than $150,000 will be eligible in endowment payouts for places like Regional Medical Center, Maquoketa Valley Dollars for Scholars, Edgewood Future Fund, Manchester Public Library and other nonprofit organizations.

Sen. Zumbach was interested in the growing number of endowments paying out to charitable causes in Delware County and was keenly aware of the popularity of the Endow Iowa program.

Endow Iowa was created to enhance the quality of life for the citizens of this state through increased philanthropic activity by encouraging new investments to existing community foundations across Iowa.

The program encourages donors to create or support endowment funds at a qualified Iowa Community Foundation like FFDC to benefit charitable causes by offering them a 25% state tax credit incentive for gifts larger than $50. For example, after the state tax credit and federal deduction, a $10,000 gift will cost a couple or individual in the 35% tax bracket just $4,000. These funds are invested and pay out 5% annually to the designated nonprofits, providing a reliable source of income to sustain organizations’ operations forever.

It’s evident the popularity of this program is growing. This year, Endow Iowa tax credits for 2017 ran out in May. However, donors who do not receive 2017 tax credits become first in line for the new supply of 2018 credits. In addition, all qualified donors can carry forward the tax credit for up to five years after the year the donation was made.

To learn more about Endow Iowa or to make a gift to an endowment in Delaware County today, visit www.dbqfoundation.org/ffdc or call Nancy Preussner at 563.920.5590.