Big Changes Coming to the Endow Iowa Tax Credit
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For nearly 20 years, the Endow Iowa Tax Credit has been a valuable tool to maximize your client’s support of the causes they care about. To keep the Endow Iowa Tax Credit working for Iowans, the Iowa Economic Development Authority (IEDA), which oversees the Endow Iowa Tax Credit, has announced immediate changes to the program. One critical change is the discontinuation of the Endow Iowa Tax Credit waitlist on July 1, 2023. We are encouraging all donors to make Endow Iowa qualified gifts by June 15, 2023. Learn more about the changes to the Endow Iowa Tax Credit program and contact us with questions.
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Proposed Federal Legislation: Is Better Deductibility Back on the Table?
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Charitable deduction legislation ebbs and flows. Proposed reform efforts come and go, resulting in the occasional change to the provisions of the Internal Revenue Code governing charitable giving. At the same time, popular charitable giving techniques evolve and grow over time, frequently creating new opportunities for your clients to support the causes they love.
For instance, donor advised funds (DAFs) were first deployed as a charitable giving technique in the 1930s—long before their popularity ascended in the 1990s—and recently reached record highs.
Similarly, Qualified Charitable Contributions (QCDs) were codified in 2006 through legislation that initially approved the technique for just about a year, followed by several legislative extensions before QCDs were made permanent by the Consolidated Appropriations Act of 2016. And while QCD annual limits ($100,000 per person and $200,000 for couples) have remained constant in the past, those will change when indexed for inflation under the new laws passed at the end of last year.
Now, like then, legislation pending in Washington—if realized—may influence the techniques your clients deploy to meet their charitable goals. Read more about how this legislation may impact your clients in this article.
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Live a life of abundance.This phrase is more than a tagline at Linda and Chris Cook’s private wealth management firm, Gilbert & Cook; it reflects how the couple is committed to living their lives.
“One of our organization’s core values is to inspire an abundance mindset. As we work with clients, it is our goal to assist them in defining what abundance means to them. For many clients, and us, abundance means being in service to others and using our resources to give back,” shared Linda.
Read more about Linda and Chris Cook and how they partner with the Community Foundation to meet their clients' goals in this article.
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Celebration Luncheon Highlights
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Nearly 800 people joined us for the Community Foundation’s annual Celebration Luncheon on Wednesday, April 5, where we highlighted some of the amazing work we’ve had the honor to support in the past year. It was so inspiring to be surrounded by our community's visionaries, change makers and legacy leavers. Thank you for giving back, getting connected and working each day to bring our community's dreams to life!
The work of collaboration on behalf of our community is sometimes hard, it is sometimes winding, but it is always worthwhile. No where is this more evident than the north side of Des Moines and the 6th Avenue Corridor as neighbors are dreaming, planning, building and investing in the future of the place they call home. Learn more about this exciting work in the video below.
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