1. Enhancing Community Philanthropy in Iowa Sandy Ehrig Community Development Division Administrator

2. Endow Iowa Mike Miller endowiowa@ided.state.ia.us 515.242.4807

3. Created in Iowa Values Legislation Increase philanthropy with incentives for individuals, businesses, and organizations to invest in community foundations - Grants - Tax Credits (fully awarded presently) Enhance the quality of life for Iowans - Greater private investment in communities

4. Endow Iowa Grants $155,303 available Maximum of $25,000 per grant award To be Awarded by Iowa Council of Foundations (selected through competitive process by IDED) Up to $115,530 in tax credits for donors (up to $5,000 per application) Application and selection process for grants currently under development by Council of Foundations Originally planned to begin July 1, 2004

5. A Program of Partnerships Individuals, businesses, or organizations contribute to qualified foundations Contributors receive the tax credit Qualified Community Foundations provide funding for community projects IDED awards the tax credits

6. Endow Iowa Tax Credit Update 199 applications from 7 Qualified Community Foundations $ 5,102,856 in charitable giving $1,003,773 tax credits awarded Additional $115,530 of Tax Credits reserved for Endow Iowa Grants Program

7. as of 6/18/2004

8. County Endowment Funds Cali Beals cali.beals@ided.state.ia.us 515.242.4723

9. County Endowment Funds WHAT? Gambling revenue enhancing county-wide philanthropy in Iowa. WHO? Counties that do NOT have gambling Maximum of one Qualified Community Foundations or affiliates of QCFs per county QCF assisting county-wide needs

10. HOW? ½ of 1% of Iowa’s gambling revenue = minimum $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 WHEN? Department of Revenue estimates distribution to Qualified Foundations Fall 2005

11. County Endowment Funds For more information about: Qualified Community Foundations Forming an Affiliate Foundation www.iowasmartidea.com/endowiowa or 515.242.4723