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Iowa Council of Foundations & Iowa Gaming Association Release Annual Report to State
(Des Moines, Iowa)– The Iowa Council of Foundations (ICoF) and the Iowa Gaming Association (IGA) have released their joint annual report, Building Iowa’s Communities Through Philanthropy: A Snapshot of the 2015-2016 County Endowment Fund Program and Grants Made by Casino Nonprofit Organizations.
Download it here.
The report is a compilation of the diverse nonprofit organizations and projects that are being funded throughout the state. The Iowa Legislature has sponsored these programs for over a decade and the positive impact of these programs is felt each day in every county across Iowa.
“When you see this report’s impressive list of funded grant projects, it is so rewarding to realize that nearly every Iowan is impacted in some positive way,” says Wes Ehrecke, president & CEO of the IGA. “This visionary program continues to be a catalyst for significant philanthropic partnerships in every county and community.”
Grants Made by Casino Nonprofit Organizations
Among the states with legalized gaming, Iowa is the only state that requires the 19 regulated licensed casinos to contribute a portion of their revenues to local charities and community projects.
Annually, this program provides millions of dollars to nonprofits through the grant-making programs administered through their respective nonprofit license holders. For more than two decades, millions of dollars in grants have provided meaningful support to thousands of charitable requests in counties with state-issued gaming licenses. In 2016, this included 15 counties in Iowa.
Endow Iowa Tax Credit Program
Since 2004, the Endow Iowa Tax Credit program has made over $49 million available in tax credits to Iowans who contribute to a fund at an accredited community foundation in the state. For the past three years, the annual tax credit limit has been $6 million per calendar year, and each year, all of the tax credits have been distributed.
The Endow Iowa Tax Credit is awarded on a first-come, first-served basis and is utilized by a wide range of donors. Credits can be claimed by individuals, businesses or financial institutions.
Over the past decade, $387 million has been invested in endowed funds at community foundations through Endow Iowa. The program is administered by the Iowa Economic Development Authority (IEDA) in collaboration with ICoF. Since its start, Iowa Community Foundations have leveraged more than $216 million in permanent endowment fund gifts. The contributions were made through more than 29,000 donations.
“The Iowa Council of Foundations is pleased to partner with the Iowa Economic Development Authority to administer the County Endowment Fund Program and the Endow Iowa Tax Credit program,” says Kari McCann, ICoF president. “We are grateful to the Governor and the Iowa Legislature for their vision and continued commitment to these innovative programs benefiting Iowans in each county across our state.”
Community philanthropy is thriving in Iowa thanks to these successful programs. To learn more about your local community foundation, or to view the full report online, please visit www.IowaCommunityFoundations.org.
The report is also available here.
As the lead philanthropic entity in Iowa, The Iowa Council of Foundations (ICoF) strives to strengthen and grow philanthropy in the State, facilitate and promote effective philanthropic grantmaking and to provide a forum for the exchange of information on programs and issues.
6919 Vista Drive I West Des Moines, IA 50266 I 515.989.1188
The Iowa Gaming Association (IGA) is a nonprofit organization advocating on behalf of 19 commercial casino members. It is the foremost resource on gaming facts, industry trends, legislative and regulatory issues, providing timely information to elected officials, media and the public.
4401 Westown Parkway, Suite 209 | West Des Moines, Iowa 50266 |515-267-9200