Where do Endowment Funds come from?

1. Charitable Giving, Bequests from Individuals and Companies:
  a.  http://www.iowacommunityfoundations.org
  b.  Donors may have additional tax benefits for donating to a Community Foundation
  c.  The Foundation can assist you with making a lasting, noticeable contribution to our  local community.
2. The State of Iowa's County Endowment Fund Program, Iowa Code 15E.311.  This Fund was created in the state treasury and is under the control of the department of revenue.
  a.  Gambling Revenue:  The fund is funded by .8 percent of the State's gambling revenues. At the end of each fiscal year, moneys in the Fund are transferred equally into separate county accounts within the funds.  The only counties with these accounts are those that were not authorized to conduct gambling games during that fiscal year.
  Of the moneys transferred, an eligible county recipient shall distribute seventy-five percent of the moneys as grants to  charitable organizations for charitable purposes in that county and shall retain twenty-five percent of the moneys for use in establishing a permanent endowment fund for the benefit of charitable organizations for charitable purposes.
  Of the amounts distributed, eligible county recipients shall give special consideration to grants for projects that include significant vertical infrastructure components designed to enhance quality of  life aspects within local communities.  In addition, as a condition of receiving a grant, the governing body of  a charitable organization receiving a grant shall approve all expenditures of grant moneys and shall allow a state audit of expenditures of all grant moneys.

Types of Endowments

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