History of Gaming Foundations and Grant Disbursement Gambling revenue will be used to enhance county-wide philanthropy in Iowa and will be available to.

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Presentation transcript:

History of Gaming Foundations and Grant Disbursement Gambling revenue will be used to enhance county-wide philanthropy in Iowa and will be available to any county designated as a Qualified Community Foundation or affiliate regardless of whether there is a casino in that county. Each gambling casino license is held by a not-for-profit foundation that is required to distribute grants to qualifying organizations. Most grants are given to groups within the casino’s county or local area. There is a need for groups that do not have a casino in their county to have an opportunity to receive a grant.

Legislation Passed During the 2004 session, the merits of gambling in Iowa were debated. This was an opportunity to introduce grant opportunities in all counties. When HF 2269 passed it included provisions to use gambling money to start grant programs across the state. –.5% of Iowa’s gambling revenue will be set aside and dedicated to Iowa counties that do not have a licensed gambling facility located within those counties. –Current estimates show that $50,000-$60,000 could be available from this pool to each county annually. The grants will be handed out through the county endowments program with 75% of the funds passing thru to charitable organizations for educational, civic, public, patriotic, or religious uses. 25% must be allocated for permanent endowments and similar purposes.

County Endowment Fund The County Endowment Fund was set up in 2003, will accumulate through June 30, 2005 with the first distribution of funds to Qualified Foundations anticipated to occur in the Fall of The goal of county Endowments is two-fold: –To distribute gambling proceeds to counties that do not currently receive many of those dollars. –To encourage the formation of Qualified Community Foundations or Affiliates, which will hopefully serve a broader and longer-term purpose than just being a conduit for gambling proceeds. Currently there are 15 Qualified Foundations in the state. 9 counties have set up Endowment Funds as affiliates of a number of these Foundations thus far. Counties can also become a Qualified Community Foundation themselves if they meet the requirements.

Qualified Foundations Community Foundation of Fort Dodge and North Central Iowa Web site: Community Foundation of Greater Dubuque Affiliates: Clayton County Dyersville and: Colesburg, Earlville, Farley, Holy Cross, Luxemburg, New Vienna, Petersburg, Worthington Community Foundation of the Great River Bend Web site: Affiliates: Geneseo (Illinois) Community Foundation of Johnson County Web site: communityfoundationofjohnsoncounty.org communityfoundationofjohnsoncounty.org Community Foundation of the Northeast Iowa Region Community Foundation of Waterloo/Cedar Falls and Northeast Iowa Web site: Affiliates: Aplington/Parkersburg, Benton County, Elma Area, Frederika Area, Grundy Center, Waterville Endowment Funds of Southwest Iowa Affiliates: Audubon County Endowment Fund, Cass County Endowment Fund, Fremont County Endowment Fund, Harrison County Endowment Fund, Mills County Endowment Fund, Montgomery County Endowment Fund, Shelby County Endowment Fund

Qualified Foundations Greater Cedar Rapids Community Foundation Web site: Affiliates: Anamosa, Mt. Pleasant Greater Des Moines Community Foundation Grow Iowa Foundation Iowa Area Development Group Community Foundation * Pella Community Foundation Sioux Center Community Foundation Siouxland Community Foundation Affiliates: Akron, Hawarden, Ireton South Central Iowa Community Foundation University of Okoboji Foundation Web site:

What to do Next Each county is required to set up a county endowment fund in order to receive gambling money. There are specific requirements regarding who can set up a county endowment fund and who can receive grants. If you would like to set up a county endowment fund contact Mike Miller at the Dept. of Economic Development at (515) or the Iowa Council of Foundations at (319)