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Community Foundation Provides Avenue for Local Year-End Giving, Impact to Nonprofits

CFNEIA
December 5, 2022

During the holiday season and as year-end approaches, many people are thinking about how they can give back to their community. Giving to a fund of the Community Foundation of Northeast Iowa is an easy way to make a year-end gift that impacts the community and supports the causes you care about.

Donors can search and give to funds across a 20-county region across northeast Iowa, including hundreds of funds supporting specific nonprofit organizations on the Community Foundation’s website at www.cfneia.org/nonprofitlist. Generous individuals can also consider creating their own fund with the Foundation, such as a donor advised fund, which will grow and impact the community forever.

“One of the benefits of giving through the Foundation is there are many different ways to give, and charitable giving can be tailored to meet the needs of the community and the desires of the donor,” said Laurie Everhardt, director of development with the Community Foundation of Northeast Iowa.

Gifts made to permanent endowment funds with a qualified community foundation, like the Community Foundation of Northeast Iowa, are eligible for a 25% state tax credit on the total value of the gift through the Endow Iowa Tax Credit Program. More information about Endow Iowa can be found at www.cfneia.org/endowiowa.

Making a non-cash gift may provide an added benefit to the donor. For example, gifts of appreciated securities (e.g., stock, mutual funds, bonds) may allow an individual to donate the full amount of the gift and avoid capital gains tax. Another option worth noting is the Qualified Charitable Distribution (QCD), also known as the IRA Charitable Rollover. The IRA Charitable Rollover allows individuals age 70½ and older to make direct transfers of up to $100,000 per year to qualified charities. Individuals age 72 or older who have an IRA must take a required minimum distribution from their account. This distribution is considered taxable income and gifts can be made from an IRA directly to a charitable organization, satisfying the distribution requirement and skipping the tax.

Before making any significant gift to charity, the Foundation recommends you consult your professional advisor to understand the impact on your taxes and to ensure you are maximizing any tax benefits.

If you are considering a gift through the Foundation, important year-end giving dates can be found at www.cfneia.org/yearenddates.

For questions or help with year-end giving, contact Laurie Everhardt at 319-243-1352 or leverhardt@cfneia.org.

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