Helping Ensure Strong Community Foundations
Community foundations enhance the lives of people across Iowa and improve the economies of the communities they serve. This program helps those foundations attract donations.
- Donors to a community foundation may receive a state tax credit equal to 25% of the gifts
- The maximum tax credit is $300,000
- Tax credits through this program can be claimed by individuals, businesses or financial institutions
County Endowment Fund
Through the County Endowment Fund, a percentage of the state's gaming tax revenue is distributed to community foundations in the 85 counties that do not hold a state issued gaming license. Those community foundation organizations grant 75 percent of those funds to charitable projects within their counties and placed the remaining 25 percent in a permanent endowment fund, which is intended to attract other donations and provide a source of permanent funding for charitable projects within the county.
The program is administered by the Iowa Economic Development Authority in cooperation with the Iowa Council of Foundations (ICOF).
IEDA can award up to $6 million dollars in tax credits through the program for each fiscal year (July 1-June 30). Currently, applications that exceed the $6 million limit are placed on a waitlist to receive the credit in a future year.
IEDA expects to discontinue the waitlist for this program as of July 1, 2023. All applications that are currently on the waitlist will not be affected by this change. Donors who submit an application for the tax credit prior to June 30, 2023 will continue to be placed on a waitlist.
IEDA will not accept additional applications for tax credits until the current waitlist has been fully awarded (expected after January 1, 2024). Applications that are received that exceed the available annual allocation will be denied. Community foundations should cease accepting applications until they will be accepted by IEDA. Applications submitted more than 12 months after the date of donation will be denied.
Please continue to check this page for updates.
The gift must be to an endowment fund within the qualified foundation or community affiliate organization.
How Do I Apply?
Download the administrative rules.