In this edition, learn about gifts of privately held business interests, legislative updates and upcoming events.
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PROFESSIONAL ADVISOR CHATS |
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A Discussion with Matt Roberts |
In this edition of Professional Advisor Chats, I sat down with Matt Roberts of Syverson Strege, to discuss gifts of privately held business interests. Watch this brief video to hear how your clients can protect and plan what they've built to support their charitable giving.
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Many of your clients may own their own businesses, and most of those clients are likely supporting charities in the community. That’s why it’s important to know the benefits of giving closely held business interests to a fund at the Community Foundation, as well as understand how to avoid pitfalls and mistaken assumptions that using a private foundation is the best move.
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For David Strege, his professional and personal motto in life is — planning pays off. From his company, Syverson Strege, partnering with the Community Foundation as a Charitable Investment Partner (CIP) to planning regular gifts from his personal donor advised fund (DAF), David has used planning to create community-wide impact through charitable giving. When David began nearing retirement, he started to look at ways he could utilize his privately-held company shares to make a difference to the causes that are important to him.
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There has been extensive news coverage of the so-called "Big Beautiful Bill" (H.R. 1) that passed the House of Representatives by a 215-214 vote on May 22, 2025. Thank you to those who have reached out recently with questions about how pending tax legislation might impact the charitable planning strategies you recommend to your clients.
The Community Foundation team keeps a close eye on legislative developments related to philanthropy, and we are always here as a resource for you and other attorneys, CPAs and financial advisors. Our team continues to monitor and track the proposed changes as this bill works its way through the reconciliation process. One additional resource you may find helpful is the Council on Foundations, which provides continual legislative updates from the House and Senate.
Once this bill is reconciled, anticipate additional communication from us, with a summary of relevant philanthropic impacts for you and your clients, and further educational opportunities.
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Endow Iowa Legislative Update |
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The Endow Iowa Tax Credit program will remain unchanged for the remainder of 2025. There are still approximately $3.4 million of 2025 Endow Iowa Tax Credits available on a first come, first serve basis. The following changes will go into effect January 1, 2026.
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This legislative session, a bill was passed and has now been signed by the Governor that affects the limits of the Endow Iowa Tax Credit program. These changes will take effect beginning January 1, 2026.
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Reduction of Endow Iowa Tax Credit program from $6 million per year to $3.5 million per year.
- Reduces the maximum tax credit amount from $100,000 to $50,000 per taxpayer annually.
- Gifts to corporate-named endowments will not be eligible.
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The Endow Iowa Tax Credit program is an innovative program, originally introduced by the legislature, to promote gifts to qualified endowments and provide sustainable support to Iowa nonprofits. The Endow Iowa Tax Credit program provides a 25% state tax credit incentive for qualified charitable gifts. We are proud that we live in a generous state with citizens who make investments in quality of life through charitable giving.
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We continue to monitor the specifics of these legislative changes and will keep you up-to-date as new information is released.
If you have specific questions, please do not hesitate to reach out directly to our team.
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Farm Planning in an Uncertain Environment |
Tuesday, July 29 | 9 - 10:30 a.m. | Free
Zoom OR C3 Center | 1910 Ingersoll Avenue, Des Moines
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Join attorney Bob Hodges, , for an informative session exploring key considerations in today's environment for preparing your clients’ farm for the next generation. Bob will cover essential topics and strategies to help you work through protecting your clients’ legacy, transitioning assets and planning for the long-term future of their operation.
Our team will share how charitable giving can be used as a tool alongside Bob’s strategies to assist your clients as they prepare their farm for generations to come.
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