Endow Iowa Tax Credit
When giving to the JRMC foundation, you may be eligible for a 25% state tax credit through the Endow Iowa program. The Jones Regional Medical Center Foundation has recently established an endowed fund with the Community Foundation of Greater Dubuque and another with the Greater Cedar Rapids Community Foundation.
Endow Iowa is a financial incentive for individual donors, families, and businesses to create or build endowments, thereby giving back to their community with annual distributions, forever.
For example, if a donor makes a $10,000 donation to the endowment, the net cost of the gift may only be $4,000. (This is assuming the donor takes advantage of a $3,500 Federal tax deduction and makes use of the 25% ($2,500) Endow Iowa Tax Credit). *
For those who do not itemize for Federal Income Tax purposes, they may still receive the 25% Endow Iowa State Tax Credit. A donation of $1,000 really only costs the donor $750. *
You can find out more about Endow Iowa, the new endowments and the foundation's services by contacting Sheila Tjaden at 319-481-6118 or Cali Beals at 319-481-6326 in the JRMC foundation office.
* This is for illustration purpose only. Please contact your tax advisor to determine exact tax benefits