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Enhancing Community Philanthropy in Iowa State Initiatives

Enhancing Community Philanthropy in Iowa State Initiatives. Sandy Ehrig 515.242.4780 sandy.ehrig@iowalifechanging.com. ENDOW IOWA. Tax Credits Grants. ENDOW IOWA GRANTS. $155,303 available 18 applications $432,550 request $608,900 in match raised Maximum of $25,000 per grant award

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Enhancing Community Philanthropy in Iowa State Initiatives

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  1. Enhancing Community Philanthropy in IowaState Initiatives Sandy Ehrig 515.242.4780 sandy.ehrig@iowalifechanging.com

  2. ENDOW IOWA • Tax Credits • Grants

  3. ENDOW IOWA GRANTS • $155,303 available • 18 applications • $432,550 request • $608,900 in match raised • Maximum of $25,000 per grant award • Awarded by Iowa Council of Foundations (as “Lead Philanthropic Entity”)

  4. Awards • Clay County Community Foundation • Clayton County Community Foundation • Community Foundation of Greater Muscatine • Elma Area Community Foundation • Greene County Community Foundation • Foundation for the Enhancement of Mitchell County

  5. ENDOW IOWA TAX CREDITS • Up to $155,303 in Tax Credits for Donors

  6. COUNTY ENDOWMENT FUNDS WHAT? • Gambling revenue enhancing county-wide philanthropy in Iowa WHO? • Counties that DO NOT have state-licensed gambling facilities • Maximum of one (1) Qualified Community Foundation or affiliate of QCFs per county • QCF assisting county-wide needs

  7. COUNTY ENDOWMENT FUND HOW? • ½ of 1% of Iowa’s gambling revenue = estimated $50,000 - $60,000 year/county • 75% of funds pass thru to charitable organizations for educational, civic, public, patriotic, or religious uses • 25% must be allocated for permanent endowment and similar purpose

  8. COUNTY ENDOWMENT FUND WHEN? • Department of Revenue estimates first distribution to Qualified Foundations will be Fall 2005

  9. COUNTY ENDOWMENT FUND How to Qualify for $ ? • Be a Qualified Community Foundation or an Affiliate of a QCF • “Address county-wide needs” (language from legislation) • i.e. serve entire county  not just one or two communities • Application Deadline May 1st

  10. Iowa Community Foundations Currently Applying National Certification • Community Foundation of Fort Dodge & North Central Iowa • Community Foundation of Greater Dubuque • Community Foundation of Greater Muscatine • Community Foundation of the Great River Bend (Davenport Area) • Community Foundation of the Northeast Iowa Region (Decorah Area) • Community Foundation of Waterloo/Cedar Falls & Northeast Iowa

  11. Iowa Community Foundations Currently Applying National Certification • Endowment Funds of Southwest Iowa(8 counties surrounding Pottawattamie County) • Greater Cedar Rapids Community Foundation Group • Greater Des Moines Community Foundation • Maquoketa Area Community Foundation • Pella Community Foundation • Sioux Center Community Foundation • Siouxland Community Foundation • South Central Iowa Community Foundation (Union, Clarke, Lucas, Ringgold and Decatur Counties)

  12. COUNTY ENDOWMENT FUNDNEXT STEPS • Develop List of Qualified Recipients • Rating/Selection Process • may be required where more than one entity qualifies • Iowa Council of Foundations partnering with IDED and IDR on review process • Funds Distributed • Fall of 2005

  13. COUNTY ENDOWMENT FUNDRATING CRITERIA • Degree of County Representation on Board/Governing body and competent leadership • Identification of County-Wide Needs and How Funds will Address those Needs • Plan to Grow the fund with Future Philanthropic Activity

  14. CONTACT INFORMATION Iowa Council of Foundations 319.287.9106 or office@communityfoundationneiowa.com

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