Endow Iowa State Tax Credit
When you make an endowed gift to the Community Foundation of Greater Dubuque or any of its funds, it will cost you far less thanks to Iowa's generous Endow Iowa 25% State Tax Credit.
Gifts of $50 or more to endowed funds qualify for this generous benefit to you.
The innovative Endow Iowa program was established by Iowa state legislators to promote charitable giving to qualified permanent endowments and provide sustainable support to nonprofits in our state.
The tax credits are only available for qualified gifts made through a qualified Iowa community foundation, such as the Community Foundation of Greater Dubuque and our affiliates. Various types of gifts qualify including cash, stock, grain and retirement assets.
Update for 2023 — Time is of the Essence!
Due to growing popularity of the Endow Iowa 25% State Tax Credit, the Iowa Economic Development Association (IEDA) has decided to pause the credit application process this summer to ensure those on the waiting list receive their credits in a timely fashion. Here’s what you need to know as you consider a gift to an endowed fund:
- IEDA will accept Endow Iowa applications up through June 30, 2023.
- Make your gift by June 1 to allow you time to fill out the paperwork and mail it to the Community Foundation. We will file it with the state for you.
- Forms not submitted in time will not be added to the waitlist.
- The maximum credits are now capped at $100,000 per individual for a gift of $400,000 or $200,000 per couple for a gift of $800,000 if both are Iowa taxpayers.
- It could take up to two years to clear the waitlist and reopen the application process.
For more information, visit the IEDA website.
The U.S. Treasury Department published the regulation, “Contributions in Exchange for State or Local Tax Credits,” on June 13, 2019, and it impacts Endow Iowa-qualified gifts made on or after August 28, 2018. Click here for more information on this regulation, known as SALT.
"I love my community, and I want to know that its future is a bright one with many possibilities. I encourage residents to learn more about the Endow Iowa tax credit and how the Community Foundation can secure our local future today and tomorrow."
Credits are given on a first-come, first-served basis.
This means not only is it important to make your gift, but also to fill out and return your Endow Iowa application as quickly as possible. The Community Foundation will mail this form to you after you make your gift. We will add as much information to the form as possible, making it easy for you to complete the form and mail it to:
Community Foundation of Greater Dubuque
Attn.: Emily Rollins
700 Locust St., Suite 195
Dubuque, IA 52001
All qualified donors can carry forward the tax credit for up to five years after the year the donation was made.
All 2023 Endow Iowa credits have been allocated, and all gifts made through December 31, 2022 will be added to the wait list.
Questions? Contact us!
