Kari McCann, President of the Iowa Council of Foundations
This week community foundation leaders across the state are preparing to meet with legislators at the 2016 Legislative Breakfast on March 10 at the Iowa State Capitol Building. This is an important day for all community foundations and donors in Iowa as leaders strive to sustain the County Endowment Fund Program and increase the state allocation for the Endow Iowa Tax Credit program. I want to encourage each of you to reach out to the legislators in your districts even if you are unable attend the breakfast Thursday.
As you know, the County Endowment Fund Program Annual Report was recently released. You can use this is a tool in communicating with elected officials. Each legislator and caucus staff member has received a copy and you may also link to it on our website in your communications. A few points regarding this program:
- This program provides needed assistance to nonprofits and residents in 84 Iowa counties.
- In this past decade, over $71 million in grants have been awarded to nonprofit organizations through this program.
- To date the program has helped secure $155 million in endowed assets.
In addition to this program, the Endow Iowa Tax Credit program has been a vital component to the success of community foundations in Iowa. You can view the full proposal here and share this with your legislators. A few points regarding this program:
- During the 2015 legislative session SSB 1104 & HSB 241 that sought to increase the tax credits, were both unanimously voted out of their Ways and Means subcommittees, however due to the lack of funding allocations within the committee, these bills failed to move forward.
- By the end of October 2015, the allocated $6 million in credits were exhausted which left 1,493 applications totaling $1,350,334 in carry over tax credits, even more money to be unencumbered with the threat of leaving the state.
- During the 2016 Legislative Session, the Iowa Community Foundations are requesting legislation that would increase the annual limit of Endow Iowa tax credits available from $6 million to $8 million to best keep up with the demand of this worthwhile program.
Please take a few moments this week to contact your legislators by phone or email. The continued success of these state-funded programs depends on it. If you have any questions, please do not hesitate to contact me.
