View - Iowa Gaming Association

History & Purpose The County Endowment Fund Program is one of two legislative programs in Iowa that aims to increase philanthropic activity
that will enhance the quality of life for Iowans. Below you will find a timeline that highlights and explains various aspects of
both legislative programs (County Endowment Fund and Endow Iowa) since together these incentives are helping to build the
community foundation infrastructure that will sustain our communities now and well into the future.
April 2003
The Endow Iowa Program was
originally proposed as part of the Iowa
Values Fund. The goal was to enhance
the quality of life for Iowans through
increased philanthropic activity.
To achieve this, the Endow Iowa
Program was created with two prongs:
(a) the Endow Iowa Tax Credit, and
(b) the Endow Iowa Matching
Grant Program.
The tax credit, offered Iowa taxpayers
the opportunity to apply for a 20%
tax credit in addition to the normal
deduction they would receive, for a
charitable gift provided it is made
to a permanent endowment fund at
a qualified community foundation
(an initial limit of $2 million in total
credits per year was established).
The matching grant program provided
a limited amount of matching funds
to new and existing community
foundations that built the permanent,
unrestricted endowment fund for
their community.
June 2003
Governor Thomas Vilsack signed the
Iowa Values Fund into law, effectively
creating the Endow Iowa Program.
4
2003 2004 2005 2006 2007 2008
February 2004
The County Endowment Fund
Program was originally proposed
in HF 2302 and provided one half
of one percent (0.5%) of the state’s
commercial gaming tax revenue
to support the grantmaking and
endowment-building efforts of
countywide community foundations in
the 85 counties that do not hold
a state issue gaming license.
May 2004
Governor Thomas Vilsack signed HF
2302 into law creating the County
Endowment Fund Program.
April 2005
The Iowa Council of Foundations and
the Iowa Department of Economic
Development awarded $150,000
in Endow Iowa Matching Grants to:
Clay County Community Foundation,
Clayton County Foundation for the
Future,Community Foundation
of Greater Muscatine, Elma Area
Community Foundation, Greene
County Community Foundation, and
the Foundation for the Enhancement
of Mitchell County.
November 2005
More than $5.4 million was
distributed by the Iowa Department
of Revenue to 85 community
foundations and/or affiliate
organizations, each receiving
approximately $63,000. Community
foundations then granted 75 percent
of those funds to charitable projects
within their counties and placed
the remaining 25 percent into a
permanent endowment fund.
The intent is to attract other
donations and provide a source of
permanent funding for charitable
projects within those counties.
May 2006
An increased allocation to the County
Endowment Fund Program and the
Endow Iowa tax credits was passed
allowing 0.8% of the commercial
gaming tax revenue to be used to
support the programs.
July 2006
The Iowa Council of Foundations
and Iowa Department of Economic
Development awarded $50,000
in Endow Iowa Matching Grants
to: Community Foundation of
Louisa County, Madrid Community
Endowment Fund, and Community
Foundation of Van Buren County.
August 2006
The County Endowment Fund
Program Grant Reports for the 2005
distributions were collected.
October 2006
More than $5.7 million were
distributed by the Iowa Department
of Revenue to 85 community
foundations and/or affiliate
organizations, each receiving
approximately $67,000.
July 2007
The Iowa Council of Foundations
and Iowa Department of Economic
Development awarded $50,000
in Endow Iowa Matching Grants
to: Hardin County Community
Endowment Foundation, Kossuth
County Community Foundation, and
Story County Community Foundation.
August 2007
The County Endowment Fund
Program Grant Reports for the 2006
distributions were collected.
September 2007
More than $6.6 million were
distributed by the Iowa Department
of Revenue to 85 community
foundations and/or affiliate
organizations, each receiving
approximately $77,000.
July 2008
The Iowa Council of Foundations
and Iowa Department of Economic
Development awarded $50,000 in
Endow Iowa Matching Grants to:
Dickinson County Endowment Fund,
Endow Union County, Ida County
Community Betterment Foundation,
and Wright County Charitable
Foundation.
August 2008
The County Endowment Fund
Program Grant Reports for the 2007
distributions were collected.
September 2008
More than $11.5 million was
distributed by the Iowa Department
of Revenue to 85 community
foundations and/or affiliate
organizations, each receiving
approximately $131,000.