Endowment
KIB's endowment is an important component of our diversified revenues. There is currently $60,000 in the endowment and more is needed! The endowment can insure against the future, and by spending only the interest from the endowment, we are reducing our dependency on other revenue sources. Donors can be comforted by the fact that having a strong endowment will assist with making sure that Keep Iowa Beautiful is around for a long time! We can offer donors the option of providing a gift that will keep on giving well into the future and/or the opportunity to fund the needs of the moment such as operating and program funding.
Keep Iowa Beautiful Endowment is administered through the Community Foundation of Greater Des Moines within the Endow Iowa program. Click on Endow Iowa name above for additional information on the program.
The Community Foundation of Greater Des Moines is a qualified community foundation that provides access to Endow Iowa Tax Credits. Endow Iowa allows taxpayers to receive a 25% Iowa tax credit in addition to normal federal charitable income tax deductions for certain charitable gifts. Approximately $4 million in Endow Iowa Tax Credits will be awarded in 2010.
The charitable gifts must be made:
- Through the Greater Des Moines Community Foundation
- For the benefit of Keep Iowa Beautiful.
- By individuals, corporations or financial institutions.
| Cash Gift (examples of different gift amounts) | $1,000 | $10,000 |
|
Less tax benefits:
|
-$350 | -$3,500 |
|
-$250 | -$2,500 |
| Net cost of contribution | $400 | $4,000 |
Gifts of appreciated assets: The net cost could be even lower if capital gains taxes and/or alternative minimum taxes are avoided.
HOW IT WORKS:
- Tax credits of 25% of the gifted amount are limited to $100,000 per person or $200,000 per couple if both are Iowa taxpayers.
- Eligible gifts will qualify for credits on a first-come/first-serve basis until the yearly appropriated limit is reached. If the current available Endow Iowa Tax Credits have been awarded, qualified donors will be eligible for the next year’s Endow Iowa Tax Credits. The Community Foundation encourages donors to act early in the year to ensure they receive Endow Iowa credits.
- All qualified donors have five years to use their Endow Iowa Tax Credits.
- Endow Iowa Tax Credits allow donors to have even greater impact on their philanthropic interests in Greater Des Moines now and into the future.
