Endow Iowa State Tax Credit

Please note: As of May 9, all 2017 Endow Iowa credits have been expended. 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. If you have additional questions, please contact Faye Finnegan at faye@dbqfoundation.org or 563.588.2700.

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. 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.

Gifts of $50 or more to endowed funds qualify for the Endow Iowa tax credit. View a complete list of our funds.

Endow Iowa tax credits are available on a first-come, first-served basis. This is an extremely popular and successful program; credits have been depleted before Dec. 31 in years past and we expect this to be the case again this year.

Be sure to return your Endow Iowa tax forms to our office as soon as possible. Donors who do not receive 2017 tax credits become first in line for the new supply of 2018 credits.

Download the 2017 Endow Iowa Tax Credit Application (PDF 131k)
**Please note that this application must be printed, signed and returned to the Community Foundation. 

Income Tax Savings and Net Cost of Charitable Gifts

Amount of Gift $10,000
State Tax Credit $2,500 (a)
Federal Tax Deduction $10,000 (b)
Federal Tax Rate 35.0% (c)
Federal Tax Savings $3,500 (d)
Total Tax Savings $6,000
Net Cost of Gift $4,000

Notes:
(a) 25% of the charitable gift, maximum gift $1.2M/ind; $2.4M/couple.
(b) Donor can deduct the entire amount of the gift on federal taxes.
(c) Individual tax rates vary.
(d) Assumes that taxpayer itemizes deductions on their federal return.

 

For more information on Endow Iowa and the availability of tax credits, call 563.588.2700.

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