As the year comes to an end, you may be searching for a tax-advantaged way to help people and organizations in the community. Since gifts made through the Community Foundation of Northeast Iowa can be tailored to address both your financial concerns and charitable intentions, we can offer a range of solutions for year-end giving.
25% State Tax Credit through Endow Iowa
Individuals, families and businesses are encouraged to take advantage of the Endow Iowa Tax Credit program because in addition to federal deductions for charitable giving, donations to endowment funds at the Community Foundation are eligible to receive a 25% state tax credit.
You may make additional gifts in any amount, at any time, to an existing fund. Use this as an opportunity to encourage your family and friends to add to your fund or any other fund in lieu of holiday gifts.
Create a Fund
It is surprisingly easy to establish a fund at the Community Foundation. And if you contribute to your new fund before December 31, you receive the maximum tax benefits for the year.
The Community Foundation offers a wide range of flexible giving vehicles. The following are just a few you may consider as you enter into the year-end season Cash/Check/Credit Card Gifts of cash made by check or credit card are an easy and convenient way to make a charitable contribution and can be used to establish or add to a charitable fund. Stocks and Bonds When you donate appreciated securities, the IRS allows you to take a charitable tax deduction on the full fair-market value of your gift providing you have held the stock for more than 12 months. You also avoid capital gains tax on the appreciated portion of the gift. Complex Gifts Contributions of more complex gifts such as life insurance accounts, closely held stock, real estate or life insurance policies may also help avoid certain taxes. Please contact our office for instructions on how to donate these types of assets.
Please e-mail Ali Parrish for more information or call (319) 287-9106.