New Donor-Advised Fund Will Help Support Education and Healthcare in Allamakee County forever

An endowment fund to benefit Education and Healthcare has been started with the Allamakee County Community Foundation (ACCF) by Dr. Steven and Stefanie Perkins.  

Foundation Coordinator Betty Steege announced the establishment of the donor advised endowment at the Foundation’s Gifts and Grant celebration on April 22.  The endowment has been invested and its future annual distributions will be directed by the Perkin’s family to support education and healthcare needs in Allamakee County forever.

“Had it not been for scholarships, Dr. Perkins would not be a doctor today,” said Steege. “Dr. Steven and Stefanie Perkins both received scholarships. This couple loves Allamakee County and believes in the future of this area.”

Dr. Steven and Stefanie Perkins used the Seeds for Success program offered by the ACCF. Seeds for Success grants provide $2,500 to a nonprofit organization endowment, with the goal that the nonprofit will raise at least a $7,500 match for a total of $10,000. Once an endowment reaches the $10,000 milestone, there is an annual payout of 5% to help support the work of the nonprofit every year, forever.

Gifts to donor-advised funds are eligible for the Endow Iowa 25% State Tax Credit. This tax credit is in addition to the federal deduction for charitable gifts. Endow Iowa is a financial incentive for individual donors, families, and businesses to create or build endowments to give back to their community. For some donors, the actual cost of the gift is 40 cents on the dollar; and the increased charitable impact per dollar gifted is one of the reasons endowments are growing in Allamakee County.

The new endowment joins a growing list of 23 local funds held by the foundation, including the Saint Patrick School Endowment, Kee High Dollars for Scholars, the TASC Endowment and many more.

Citizens can find out more about establishing a donor-advised fund by contacting Betty Steege at 563-586-2046 or Community Foundation of Greater Dubuque Director of Affiliates M.J. Smith at 563-880-9992, or by visiting with a financial services professional.

For more information on the Allamakee County Community Foundation, visit www.dbqfoundation.org/ACCF or call 563.586.2046.