The Waukee Community Schools Foundation has opened an Endow Iowa Account, which serves as a permanent investment in the schools, educators, and students within the Waukee Community School District. The Foundation is grateful to the Nathan Koch Memorial Fund, which was created by Nathan’s friends and family in partnership with Marco’s Pizza, for providing the seed money for the account. Those contributions will be held in the permanent endowment to create opportunities for students for years to come.
Thanks to innovation at the state level, donors can give to qualified permanent endowments such as the Waukee Community Schools Foundation’s Endow Iowa account, and receive a tax credit for 25% of the gifted amount. More details on this below!
What is Endow Iowa?
State lawmakers passed innovative legislation to create the Endow Iowa Tax Credit program in order to promote gifts to qualified permanent endowments and provide sustainable support to Iowa nonprofits.
- A variety of gifts qualify for Endow Iowa Tax Credits including cash, real estate, farmland, appreciated securities and outright gifts of retirement assets.
- Tax credits of 25% of the gifted amount are limited to $300,000 in tax credits per individual for a gift of $1.2 million or $600,000 in tax credits per couple for a gift of $2.4 million if both are Iowa taxpayers. No minimum gift amount is required to qualify for Endow Iowa Tax Credits.
- All qualified donors have five years to use their Endow Iowa Tax Credits.
- You may read more at the Community Foundation of Greater Des Moines website.
What is the IRA Charitable Rollover?
As you consider ways to continue your charitable support, especially if you’re considering giving to our new Endow Iowa account, the IRA charitable rollover is a giving opportunity worth knowing about. The IRA charitable rollover provides donors 70 ½ and older a unique opportunity to make taxwise gifts to the causes they care about.
- Donors 70 ½ and older can transfer up to $100,000 of IRA assets to public charities without being subject to income taxes on the distribution.
- You can use your IRA distribution to invest in the Waukee Community Schools Foundation’s Endow Iowa Account.
- The Community Foundation of Greater Des Moines is eager to work with you to discuss how your generous gift may be eligible for Endow Iowa Tax Credits, while taking advantage of the IRA charitable rollover in 2021.
In order to contribute to the Waukee Community School Foundation’s, Endow Iowa Account, checks must be made out to Community Foundation of Greater Des Moines with “Waukee Community Schools Foundation” on the memo line.
Mail checks to…
Community Foundation of Greater Des Moines | 1915 Grand Avenue | Des Moines, Iowa 50309 |
To learn more about how you can take advantage of this tax-wise giving strategy contact Lynne Yontz, chief charitable giving officer, at 515-447-4203 or firstname.lastname@example.org.
Connect with the Foundation
Gifts to our Endow Iowa legacy fund are accepted year-round, but if you’re aiming to finalize a gift by December 31, please keep in mind that gifts such as stock, real estate or tangible personal property require advanced planning, so contact Adrianne Towe, email@example.com, to begin the process of meeting your financial and charitable goals.