Enhancing Community Philanthropy in Iowa State Initiatives

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Enhancing Community Philanthropy in IowaState
Initiatives

• Mike Miller
• 515.242.4807
• mike.miller_at_iowalifechanging.com

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ENDOW IOWA

• Tax Credits
• Grants

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ENDOW IOWA GRANTS

• 155,303 available
• Maximum of 25,000 per grant award
• To be awarded by Iowa Council of Foundations (as
  Lead Philanthropic Entity)

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ENDOW IOWA GRANTS

• Up to 155,303 in Tax Credits for Donors
• up to 7,765 per application
• Application and Selection Process for Grants
• currently under development by the Council of
  Foundations
• will emphasize new foundations/affiliates
• Scheduled to begin
• Early 2005

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COUNTY ENDOWMENT FUNDS

• WHAT?
• Gambling revenue enhancing county-wide
  philanthropy in Iowa
• WHO?
• Counties that DO NOT have gambling
• Maximum of one (1) Qualified Community Foundation
  or affiliate of QCFs per county
• QCF assisting county-wide needs

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COUNTY ENDOWMENT FUND

• HOW?
• ½ of 1 of Iowas gambling revenue estimated
  50,000 - 60,000 year/county
• 75 of funds pass thru to charitable
  organizations for educational, civic, public,
  patriotic, or religious uses
• 25 must be allocated for permanent endowment and
  similar purpose

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COUNTY ENDOWMENT FUND

• WHEN?
• Department of Revenue estimates first
  distribution to Qualified Foundations will be
  Fall 2005

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COUNTY ENDOWMENT FUND

• How to Qualify for ?
• Be a Qualified Community Foundation or an
  Affiliate of a QCF
• Address county-wide needs (language from
  legislation)
• i.e. serve entire county ? not just one or
  two communities

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COUNTY ENDOWMENT FUNDNEXT STEPS

• Develop List of Qualified Recipients
• Rating/Selection Process
• may be required where more than one entity
  qualifies
• Iowa Council of Foundations is likely to be
  responsible for this process
• Funds Distributed
• next fall

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COUNTY ENDOWMENT FUNDPOSSIBLE RATING CRITERIA

• Degree of Representation on Board/Governing body
• Philanthropic Activity undertaken throughout the
  county/area by the entity within the first three
  (3) years
• Length of Time established

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CONTACT INFORMATION

• Iowa Council of Foundations
• 319.287.9106
• or
• office_at_communityfoundationneiowa.com