An anonymous donor has created an Endow Iowa endowment fund at the Greater Poweshiek Community Foundation to benefit Grinnell Regional Medical Center. This endowed fund will have a maximum annual distribution of 5 percent. Going forward, additional donors may contribute to this newly established fund with a gift of $100 or greater and also take advantage of the tax benefit.
“GRMC is grateful to the donor who made this all possible,” says Todd Linden, GRMC President and CEO. “We are pleased to be a part of this collaboration between the donor and the Greater Poweshiek Community Foundation. Interest earned from the endowment provides the medical center with funds for annual operating needs.”
“We are pleased to have the medical center included in this wonderful program,” says Tom Marshall, GPCF vice-president and founding board member. “This collaboration provides another opportunity for donors to give to a great organization.”
This partnership provides donors who wish to support the important work of GRMC with State of Iowa tax credits in addition to any federal tax benefits. This opportunity exists because of a program called the Endow Iowa Tax Credit Program. Iowa citizens or businesses making a gift to a permanently endowed fund held by a qualified community foundation, such as GPCF, are eligible for a 25 percent State of Iowa tax credit.
The 25 percent Endow Iowa tax credit means that for every $100 contributed to this fund, the donor’s Iowa income tax bill is reduced by $25. The gift remains income tax-deductible for federal purposes, which produces additional savings for the donor consistent with their specific tax bracket.
The Endow Iowa Tax Credit Program was created to encourage individuals, businesses, and organizations to make lasting investments in their communities. To date, Iowans have donated $75 million by taking advantage of the Endow Iowa tax credit through endowments at community foundations across the state. Locally, donors have contributed more than $500,000 toward endowment funds through GPCF. The foundation manages local funds for the Endow Iowa tax credit as the area’s community foundation. Endow Iowa tax credits are offered on a first-come, first-served basis.
For more information about how to support Grinnell Regional Medical Center with the Endow Iowa program, please contact Denise Lamphier, GRMC director of communications and development at 641-236-2589 or dlamphier@grmc.us. Donors with questions about Endow Iowa, may contact Delphina Baumann, GPCF gift planning coordinator, at 641-236-5518 or delphina@greaterpcf.org.
“GRMC is grateful to the donor who made this all possible,” says Todd Linden, GRMC President and CEO. “We are pleased to be a part of this collaboration between the donor and the Greater Poweshiek Community Foundation. Interest earned from the endowment provides the medical center with funds for annual operating needs.”
“We are pleased to have the medical center included in this wonderful program,” says Tom Marshall, GPCF vice-president and founding board member. “This collaboration provides another opportunity for donors to give to a great organization.”
This partnership provides donors who wish to support the important work of GRMC with State of Iowa tax credits in addition to any federal tax benefits. This opportunity exists because of a program called the Endow Iowa Tax Credit Program. Iowa citizens or businesses making a gift to a permanently endowed fund held by a qualified community foundation, such as GPCF, are eligible for a 25 percent State of Iowa tax credit.
The 25 percent Endow Iowa tax credit means that for every $100 contributed to this fund, the donor’s Iowa income tax bill is reduced by $25. The gift remains income tax-deductible for federal purposes, which produces additional savings for the donor consistent with their specific tax bracket.
The Endow Iowa Tax Credit Program was created to encourage individuals, businesses, and organizations to make lasting investments in their communities. To date, Iowans have donated $75 million by taking advantage of the Endow Iowa tax credit through endowments at community foundations across the state. Locally, donors have contributed more than $500,000 toward endowment funds through GPCF. The foundation manages local funds for the Endow Iowa tax credit as the area’s community foundation. Endow Iowa tax credits are offered on a first-come, first-served basis.
For more information about how to support Grinnell Regional Medical Center with the Endow Iowa program, please contact Denise Lamphier, GRMC director of communications and development at 641-236-2589 or dlamphier@grmc.us. Donors with questions about Endow Iowa, may contact Delphina Baumann, GPCF gift planning coordinator, at 641-236-5518 or delphina@greaterpcf.org.
