Clive Community Foundation (CCF) donors receive full tax benefits including access to Endow Iowa Tax Credits – a 25% Iowa tax credit in addition to normal federal charitable income tax deductions for certain charitable gifts.
The maximum amounts available under Endow Iowa, are:
- Up to $300,000 in tax credits per year for an individual with a gift of $1.2 million.
- Up to $600,000 in tax credits per year for a couple with a gift of $2.4 million.
To qualify for this unique Iowa tax benefit, you must contribute to an endowed fund which is restricted; 5% of the fund balance is donated annually per the donor’s wishes.
» $6 million in tax credits are available in 2014.
» $6 million in tax credits were distributed in 2013.
Since the inception of the Iowa Tax Credit in 2004, this has leveraged over $118 million in charitable giving in the State of Iowa. The program enjoys bi-partisan support from the Iowa legislature and the Governor.
How to give more to your favorite charity and pay less in taxes
