The Clay County Community Foundation provides an opportunity for an individual, family, business, or non profit group to fund their charitable interests - forever. Funds established which limit distributions to the earnings on the assets in the Fund last into perpetuity.
Currently the Clay County Community Foundation has the following funds established and accepting donations. To make a donation to any of these funds please contact the Community Foundation of Greater Des Moines and receive additional Endow Iowa tax credit information (515) 447-4210.
- Lillian Swanson Memorial Arts Fund - Insuring continued promotion of arts and culture here in Northwest Iowa. Click here for a flyer on this fund.
- Spencer Regional Healthcare Foundation Endow Iowa Fund - For more information on this fund or donate please click here. If making a gift online please direct your gift to the "Endowment Fund."
- Arts on Grand Endow Iowa Fund
- Dawn Seeley Instrumental Fund
- First Congregational Church Endowment
- Grand Avenue Community Outreach Endowment
- Hoeppner Trust Fund
- Ruth Miller Endowment
- St. Luke Homes & Services Charitable Gift Fund
- Clay County Community Foundation Disaster Recovery Fund - The Clay County Community Foundation has established the Disaster Recovery Fund (DRF) to support our most negatively impacted populations as they face the effects of COVID-19. The DRF provides an opportunity for the public to give with the reassurance their donations will be used to quickly move resources to where they are most needed and to adapt to evolving needs in the future. For more information on how to donate, click here."
There is so much more we'd like you to know. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact either your local board member or the CCCF Administrative Office at (515) 447-4210.
Where do Endowment Funds come from?
- Donors may have additional tax benefits for donating to a Community Foundation
- The Foundation can assist you with making a lasting, impactful contribution to our local community.
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.
- Gambling Revenue: The fund is funded by .08 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
- Unrestricted Funds: To meet the ever-changing needs of the community. The Board of Directors determines how grants are distributed. Needs of the community change over time. This would be a good fit for donors that want to benefit their community and allow flexibility for an ever changing world.
- Field of Interest Funds: To address the needs of an important area of community life such as education, arts, environment, youth, etc.. The Board of Directors determines how grants are distributed within the criteria set out in the designated field of interest. Established Funds: Lillian Swanson Fund
- Designated Agency Funds: Community members can direct gifts to specific non-profit agencies or purposes as designated in the establishment of the fund. Provides a way to continue lifetime annual support for an organization of special personal interest.
- Non-Profit Organization Endowment Fund: A Non-profit organization can establish its endowment within the foundation to provide a perpetual source of support. This frees your organization of administrative and investment responsibilities, and provides assurance that the endowment will be preserved. The non-profit organization may invite contributions.
- Donor Advised Funds: The donor is involved in determining how these funds are distributed, subject to the federal IRS rules and guidelines for Donor Advised Funds. Funds can be endowed or non-endowed. Donor advised funds can serve as an alternative to the creation of a private foundation to alleviate administrative, reporting, and compliance requirements.
Tax Advantages of Giving
We are privileged to live in a generous state with citizens who have made investments in the quality of life we enjoy today through charitable giving. To continue this proud tradition of giving, the Community Foundation is proud to be able to offer the Endow Iowa Tax Credit, a 25% state tax credit on qualified gifts.
Establishing a Fund
For more information on setting up a fund to meet your personal charitable giving needs, or to benefit a cause or organization important to you, click on the button below to contact our local Clay County Community Foundation representative. We will partner with you to find the type of fund that works best for you.