Governor Culver, ICoF & IDED Announce Endow Iowa Matching Grant Awards
Iowa Communities Grow through Endowments in Community FoundationsJuly 10, 2007 (Des Moines, Iowa) –Governor Chet Culver joined the Iowa Council of Foundations (ICoF) and the Iowa Department of Economic Development (IDED) today to announce the recipients of the 2007 Endow Iowa Grant Awards. Recipients for 2007 include:
"I would like to congratulate the community foundations from Hardin, Kossuth and Story Counties," said Governor Chet Culver. "Because of their foresight and dedication to philanthropy, these communities will continue to grow stronger."
- the Hardin County Community Endowment Foundation
- the Kossuth County Community Foundation
- the Community Foundation of Greater Story County
“Iowa’s strategy for economic development has two focuses: creating great new jobs and building great communities,” said IDED Director Michael Tramontina. “Well into the future, these long-term endowment foundations will improve quality-of-life in these communities, making them even more attractive to businesses and employees.”
Endow Iowa provides an incentive to encourage individuals, businesses and organizations to invest in their region. Each recipient receives a grant to build their community foundation’s unrestricted endowment fund. “The Community Foundation movement in Iowa is certainly creating long-term opportunities for community betterment in every corner of the state,” said ICoF Director Angela Dethlefs-Trettin. “Through programs such as Endow Iowa, we are building upon that spirit of philanthropy which will continue to benefit charitable projects and programs that are so important. By helping to build strong community foundations, so much is being done for Iowa communities – for good and forever.”
The goal of the Endow Iowa Grant Program is to enhance the quality of life for Iowans by providing support to community foundations that will aid nonprofit projects and programs. The grant program is administered by the Iowa Council of Foundations in collaboration with IDED. Now in its third year, the Endow Iowa Grant Program in total has leveraged nearly $1.1 million in local contributions, creating sustainable, philanthropic vehicles for charitable impact in communities across the state.
# # # Council Column April 2006
The ICoF News Update- Council Column April 2006- is available for download by clicking on the pdf document below. In this issue, readers will find information on the Endow Iowa Grant Program 2006 Applications recently released, legislative updates on federal as well as state legislation, and information on the ICoF’s new Director.
### Endow Iowa Matching Grant Awards Announced
ICoF and IDED help grow communities with investments in community foundationsDes Moines, Iowa (April 19, 2005) - The Iowa Council of Foundations (ICoF) and the Iowa Department of Economic Development (IDED) today announced the recipients of the 2005 Endow Iowa Matching Grant Awards. Endow Iowa provides an incentive to encourage individuals, businesses and organizations to invest in their regions. Each recipient will receive $25,000 to support their community foundation. Recipients include the Clay County Community Foundation, Clayton County Community Foundation, Community Foundation of Greater Muscatine, Elma Area Community Foundation, Greene County Community Foundation and the Foundation for the Enhancement of Mitchell County.
Laura Sauser, President of ICoF said, "The Endow Iowa Program has proven to be a wonderful tool in promoting philanthropy in our state, enhancing the quality of life for Iowans."
IDED Director Michael Blouin said the grants will allow these communities to establish or further enhance their local philanthropy organizations. "The awards will help these areas create strong community foundations, providing another way for individuals or businesses to support their local community and the entire state," he said.
Endow Iowa is a component of the Iowa Values Fund, created in 2003. The goal of the program is to enhance the quality of life for Iowans by providing capital to aid nonprofit projects and programs. The grant program is administered by the ICoF in collaboration with the IDED. Endow Iowa has leveraged more than $600,000 in local contributions, creating vehicles for philanthropic impact in communities across the state.
### $50,000-60,000 annually for Non-Gaming Iowa Counties to be distributed through qualified Community Foundations
Near the end of the 2004 Iowa General Assembly, a new gambling bill was passed and signed by Governor Vilsack. This bill, HF2302, will distribute 1/2 of 1 percent of the state’s gambling revenues to the projected 85-90 counties in Iowa that do not have gambling entities within their county. These funds will be deposited and distributed through QUALIFIED community foundations and affiliate funds.
Some anticipate that each county without gambling will receive between $50,000 to $60,000 per year with an expected increase in dollars as the years pass. Up to 75% of those dollars may be distributed to charities for immediate causes but at least 25 must be allocated to permanent endowment funds at qualified community foundations or affiliate funds.
### Partnering to Ensure Quality of Life for Iowans
Promoting the Power of PhilanthropyDes Moines, Iowa (December 1, 2004) - The Iowa Department of Economic Development (IDED) and the Iowa Council of Foundations (ICOF) today announced a unique partnership to keep philanthropy thriving in Iowa. The two groups will work together to implement the Endow Iowa legislation, which offers grants and tax credits to encourage the growth of community foundations in the state.
"The Iowa Council of Foundations is pleased to partner with the Iowa Department of Economic Development on Endow Iowa. We believe this program will be a wonderful tool in promoting philanthropy in our state - ultimately enhancing the quality of life for Iowans," said Laura Sauser, ICOF President.
The IDED named the ICOF as the lead entity in the grant component of Endow Iowa. The grants program provides matching funds to new and existing citizen groups organized in Qualified Community Foundations to address community needs.
The ICOF will administer the grant program, awarding at least six grants of up to $25,000 each to new and existing Qualified Community Foundations, or Community Affiliate Organizations. Grants will be awarded on a points system based on the applicant's ability to meet a number of criteria.
Applications for the grants are due on March 1, 2005 and awards will be announced on April 1, 2005.
The legislation also authorized Iowa tax credits to be awarded in conjunction with the grant program. Donations to foundations applying for the grants could be eligible for a 20% state tax credit, in addition to the standard income tax deductions for charitable gifts. The donations would have to be made between 7-1-2003 and 12-31-2005 to be eligible. The maximum tax credit is $7,765 for the cumulative donations to any one endowment fund created under the program.
Application forms for the grant program and additional information are available at the following web sites: www.iowalifechanging.com or www.iowacounciloffoundations.org.
### Foundation Offers Mini-Grants in 2004
The Wellmark Foundation will again be offering mini-grants for community health improvement projects.
The average award amount for a mini-grant will be between $2,500 and $5,000. Examples of what may receive funding under the mini-grant program include projects to:
- Develop a coalition
- Do a community survey
- Develop a health fair or a certified diabetes education program
Applications for mini-grants are due in the Foundation office October 20. The review committee will approve the grants by November 15, and the grant money disbursed December 15.
For more information on how to apply for a mini-grant, go to The Wellmark Foundation's Web site at: www.wellmark.com. Click on The Wellmark Foundation, then click on How to Apply for Funding. Or, e-mail Matt McGarvey, Foundation grants manager, at: mcgarveym@wellmark.com.
### Additional Sources of News for Grant Makers
The 2003 edition of the Directory features key facts on the nation's top 10,000 foundations by total giving, including over 1,500 entries that did not appear in last year's edition. Together, these major foundations hold assets in excess of $434 billion and donate well over $24 billion each year. And, with over 41,000 descriptions of selected grants, the Directory provides fundraisers with unique insight into foundation giving priorities.
There are 85 foundations from Iowa in the latest Foundation Directory and there are 800 in the Guide to US Foundations, our directory of all foundations in the U.S.
### Endow Iowa Update
Web Site: http://www.iowasmartidea.com/endowiowa/Tax Credits Available for Philanthropy
New Legislation Encourages Charitable GivingNew and innovative opportunities are now available for individuals and businesses across Iowa to promote philanthropy and community development. The recently passed, two-pronged "Endow Iowa" legislation, sponsored by the Iowa Council of Foundations, allows citizens to utilize philanthropy as a catalyst to build local endowments at community foundations and improve the quality of life in the community.
"Endow Iowa is an opportunity for citizens to give back to their community, and for communities to plan for the future." said Johnny Danos, President of the Iowa Council of Foundations. "Through the tax credit component of Endow Iowa, community leaders and citizens can make a difference in their towns. By working with local Community Foundations, our citizens not only give back to the community, but also provide a mechanism for enhancing their communities far into the future," Danos commented.
The first prong of Endow Iowa is a tax credit program that provides a 20 percent tax credit ($100,000 maximum) for a taxpayer's gift to a permanent endowment fund in a qualified community foundation. The tax credit provides citizens an additional tax incentive to invest in their community, and can benefit any charity or charitable cause in Iowa as specified by the donor. Under the Endow Iowa tax credit program, qualifying gifts made between January 1, 2003 and December 31, 2005 can qualify for the tax credits, and may be carried forward for up to five additional years.
The second prong of Endow Iowa is a seed grant program that will be available July 1, 2004, and will allow communities to apply for $25,000 in matching funds to establish a community affiliate endowment.
"Endow Iowa promotes philanthropy and brings together people who have a vision to enrich their community. By working in collaboration, local leaders can help develop, sustain and improve the community's quality of life." Danos concluded.
Communities desiring additional information concerning the Community Affiliate Endowment program should contact the Community Foundation of their choice by referring to the membership section of this website.
### Endow Iowa
Web Site: http://www.iowasmartidea.com/endowiowa/For Immediate Release
Contact: Luanne S. O'Shea (515.277.5011)Legislation Introduced to Assist Communities
Iowa Council of Foundations Supports Endow IowaDes Moines (February 28, 2003) Endow Iowa, a new philanthropic/economic development proposal before the Iowa legislature this session, has been developed and has the strong support of Iowa Council of Foundations. Introduced to the Iowa legislature, Endow Iowa will enable community leaders to utilize philanthropy as a catalyst to build endowment funds and improve our quality of life.
"Endow Iowa is a wonderful opportunity for the state," said Johnny Danos, president of the Iowa Council of Foundations. "We believe that this piece of legislation will be a catalyst in increasing local community leadership, developing economic development projects, and generating new wealth within our communities. Now is the time to look at our communities, our citizens and the opportunities that lay before us. Endow Iowa will be a great tool for all of Iowa."
Endow Iowa has two key parts: a seed grant program that will allow communities to apply for $25,000 in matching funds to establishment an endowment fund; and a tax credit component that will provide donors a credit against their Iowa taxes for investing in a qualified endowment fund.
"We developed this legislation as we believe Endow Iowa will promote and strengthen community development through philanthropy. Endow Iowa will assist in establishing community endowment funds that create financial resources to fund community betterment, " Danos said. "The U.S. is about to embark on the 'Great Wealth Transfer' - more dollars are going to transfer hands in the next 50 years than ever before. As the leading state with citizens 75 years and older, Iowa cannot afford to miss this wave, and Endow Iowa will provide the mechanism to benefit everyone involved."
Endow Iowa is a philanthropic strategy for strengthening and securing Iowa's future. To contact your legislator to express your support of Endow Iowa - visit www.legis.state.ia.us/Legislators.html to identify e-mail and phone numbers.
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