Endow Iowa Program Celebrates 15th Anniversary
Des Moines, IA – (December 20, 2018) The Endow Iowa program celebrated its 15th Anniversary with a proclamation signing in Governor Reynolds’ office today. The program began in 2003 with $2 million in tax credits available. Demand for the tax credits has continued to grow and since 2013, $6 million has been available annually through this program. The Endow Iowa Tax Credit is awarded on a first-come, first-served basis to donors who make a gift to a permanent endowment fund, established for the benefit of Iowa charitable causes, at a qualified community foundation in Iowa. The program is utilized by a wide range of donors, including individuals, businesses and financial institutions, with a majority of donations at the $1,000 level or less.
Benefits of this program are many and include keeping charitable dollars in Iowa to assist nonprofits, charitable causes and communities across the state. Since the inception of the Endow Iowa Tax Credit program, Iowa community foundations have leveraged more than $264 million in permanent endowment fund gifts. The contributions were made through 35,732 donations. These dollars will continue to grow in endowment funds in perpetuity, improving lives for Iowans both now and for years to come. Last year alone, Endow Iowa funds at Iowa community foundations granted $17.7 million to nonprofits and charitable causes in the state.
The program is administered by the Iowa Economic Development Authority (IEDA) in collaboration with the Iowa Council of Foundations (ICoF). The ICoF is a statewide membership association of foundations and grantmaking organizations across Iowa. The ICoF’s mission is to strengthen and grow philanthropy in Iowa.
“Fifteen years ago, our state leaders had both the foresight and vision to recognize the potential of Endow Iowa as a tool to support our communities and to keep wealth from leaving our state. On behalf of the Iowa Council of Foundations and Iowa’s vibrant network of community foundations, we express our gratitude to the Governor and the legislature for their continued support and partnership,” said Kari McCann Boutell, President of the Iowa Council of Foundations.
To learn more about Endow Iowa or connect with your local community foundation, please visit www.IowaCommunityFoundations.org.
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The Iowa Council of Foundations (ICoF) strives to strengthen and grow philanthropy in Iowa. Since 2004, the Iowa Council of Foundations has served as the state’s Lead Philanthropic Entity for the Endow Iowa Tax Credit program.
For more information, contact:
Kari McCann Boutell, President, 515.989.1188, kmccann@iowacounciloffoundations.org
6919 Vista Drive, West Des Moines, IA 50266, www.iowacounciloffoundations.org