Enhancing Community Philanthropy in Iowa State Initiatives Sandy Ehrig 515.242.4780

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Presentation transcript:

Enhancing Community Philanthropy in Iowa State Initiatives Sandy Ehrig

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 Awarded by Iowa Council of Foundations (as “Lead Philanthropic Entity”)

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

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

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

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

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

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

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

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)

COUNTY ENDOWMENT FUND NEXT 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

COUNTY ENDOWMENT FUND RATING 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

CONTACT INFORMATION Iowa Council of Foundations or