The Homeschool Iowa Foundation was created in December 2012 as a supporting organization of the Network of Iowa Christian Home Educators (NICHE).
Our mission is to build a legacy of funding and leadership for the advancement of Christian homeschooling and discipleship in Iowa.
Invest in future generations of homeschoolers in Iowa by contributing to the Homeschool Iowa Endowment, a fund administered by the Community Foundation of Greater Des Moines on behalf of NICHE. Since this endowment fund qualifies for Endow Iowa Tax Credits, 25% of your gift will qualify for an equal amount in state tax credits on your Iowa tax return. And this credit will carry forward for up to five years!
An investment of $50 can double to equal a $100 gift to the Homeschool Iowa Endowment by using both the federal tax deduction and the Endow Iowa Tax Credits.
Reduce your tax payments to a government bent on mortgaging our children’s future, by maximizing your gifts to the Homeschool Iowa Endowment.
The Community Foundation of Greater Des Moines will send you the following in acknowledgement of your gifts:
√ Gift Receipt Cover Letter
√ 2014 Endow Iowa Tax Credit Application
√ Instruction Card and Return Envelope
Let us prove faithful to upcoming generations by saving for their future. Make the decision today to join us in building a legacy of funding and leadership for Christian homeschooling and discipleship in Iowa.
Endow Iowa Tax Credits
The Community Foundation of Greater Des Moines is a qualified community foundation that provides access to Endow Iowa Tax Credits. Endow Iowa allows taxpayers to receive a 25% Iowa tax credit in addition to normal federal charitable income tax deductions for certain charitable gifts.
The caritable gifts must be made:
Through a qualified community foundation.
To a permanent endowment fund with limits distributions to 5%.
For the benefit of one or more Iowa charitable causes.
By individuals or businesses.
This is an exciting program that benefits borh donors and charities. Below is an approximation of the net after-tax costs of establishing a fund:
Cash gift (examples of different amounts) $1,000 $10,000 $100,000
Less tax benefits:
Net federal tax savings (approximated assuming maximum tax bracket) -350 -3,500 -35,000
Endow Iowa Tax Credit -250 -2,500 -25,000
Net Cost of Contribution $400 $4,000 $40,000
Gifts of appreciated assets: The net cost could be even lower if capital gains tax and/or alternative minimum taxes are avoided.
HOW IT WORKS:
A variety of gifts qualify for Endow Iowa Tax Credits including cash, real estate, appreciated securities and outright gifts of retirement assets.
Tax credits of 25% of the gifted amount are limited to $227,590 in tax credits per individual for a gift of $910,362 or $455,181 in tax credits per couple for a gift of $1,820,724 if both are Iowa taxpayers.
Eligible gifts will qualify for credits on a first-come/first-serve basis until the yearly appropriated limit is reached. If the current available Endow Iowa Tax Credits have been awarded, qualified donors will be eligible for the next year's Endow Iowa Tax Credits.The Community Foundation encourages donors to act early in the year to ensure they receive Endow Iowa credits.
All qualified donors can carry forward the tax credit for up to five years after the year the donation was made.
Endow Iowa Tax Credits allow donors to have even greater impact on their philanthropic interests in Greater Des Moines now and into the future.
We encourage donors to consult with tax advisors to review their individual circumstances.