Cash and Cash Equivalents
Cash, usually in the form of a check or credit card, is a convenient way to give. If you itemize your deductions on your federal income tax return, you may take a charitable gift deduction for the amount of your gift. If you give your gift to an endowed fund that supports a nonprofit in Iowa, you may be eligible to receive the Endow Iowa Tax Credit. If you can’t take the entire deduction in the first year, you may carry the balance forward into the next five years. When savings bonds, certificates of deposit and other ordinary income assets are gifted to the Community Foundation, you will not have to pay tax on the gain in those assets. You can name the Community Foundation as the primary beneficiary, contingent beneficiary or as a partial beneficiary.
Memorials & Honors
Gifts can be made in memory or honor of a loved one, or to commemorate a special milestone or event. The gifts can be made to an existing fund or you may choose to establish a special fund. Otherwise the gifts are directed to the Community Fund to support community needs.
Privately Held Securities
The Foundation accepts contributions of publicly traded stocks and bonds. The securities should be electronically transferred to The Foundation, if possible. Upon receipt in the Foundation’s brokerage account the securities will be sold as soon as is practical. If a donor(s) holds a stock certificate in their name(s), a stock power form with a signature guarantee is required. The form will be available at the Foundation office and the signature guarantee will be completed by a bank or other appropriate financial institution. The donor(s) may then bring the stock or security to the Foundation’s office or present them to an appropriate employee or officer of the Foundation.
The Foundation will consider the acceptance of tangible personal property on a case by case basis and all such contributions must be approved by the Board. In making a decision, the Foundation will consider the difficulty and expense of selling the items, the expertise required to sell the items, issues of storage interim to sale, and the general overall benefit to the Foundation.