Pageviews: 23,439,768
advertiser content
advertiser content

Less Than Half of Endow Iowa Tax Credits Remain for 2022

Less than half of Endow Iowa 25% state tax credits remain for 2022, as reported by the Iowa Economic Development Authority this week. As of July 12, approximately $2.7 million in credits remain of the original $6 million available. The Benton County Community Foundation encourages residents across the county to take advantage of the 25% state tax benefit through the Endow Iowa Tax Credit Program by considering a gift to a local cause that is Endow Iowa eligible through the Foundation. Credits are distributed on a first-come, first-served basis.

Due to popularity, Endow Iowa tax credits for calendar year 2021 were expended as of December 2020 and eligible gifts are now being placed on a waiting list for 2022. To qualify to receive the 25% tax credit, gifts must be made to a permanent endowment fund benefiting one or more Iowa charitable causes and be held at an accredited community foundation. The Benton County Community Foundation is an affiliate of the Community Foundation of Northeast Iowa which is a nationally accredited foundation. A list of Benton County funds that are Endow Iowa eligible can be found at www.cfneia.org/endowiowaeligible.

The 25% Endow Iowa Tax Credit is in addition to the normal federal deduction for a charitable gift. All qualified donors can carry forward the tax credit for up to five years after the year the donation was made. The Community Foundation recommends donors consult with their tax advisor to review their individual circumstances in order to maximize tax incentive opportunities.

Since its inception in 2004, the Endow Iowa Tax Credit program and has leveraged more than $311 million in endowment gifts to support Iowa communities and charitable causes.


More information about the Endow Iowa Tax Credit Program can be found at www.cfneia.org/endowiowa. Questions can be directed to Terry Gaumer, affiliate development director with the Community Foundation of Northeast Iowa, at 319-243-1354 or tgaumer@cfneia.org.

Comments

Submit a Comment

Please refresh the page to leave Comment.

Still seeing this message? Press Ctrl + F5 to do a "Hard Refresh".

advertiser content advertiser content advertiser content
advertiser content