How to Apply
Applying for the Endow Iowa Tax Credit is done through your local community foundation after a qualifying gift has been made.
- Please ensure you have reviewed the basic eligibility requirements.
- Make a gift to an endowed fund at a qualified community foundation.
- The community foundation will provide you with the Endow Iowa Tax Credit application. It is a simple, one-page form. You will need to provide your Social Security number along with your contact information.
- The community foundation will sign off on your application and submit it on your behalf to the Iowa Economic Development Authority.
- The Iowa Economic Development Authority reviews all applications and mails out tax credit award certificates directly to donors. Your local community foundation will communicate to you about when you can anticipate receiving your tax credit certificate.
Please note: Endow Iowa Tax Credits are awarded on a first-come, first-served basis. The actual tax credit benefit is realized when the donor files taxes. The certificate from the Iowa Economic Development Authority can be used by the taxpayer as back-up documentation for their eligibility for the credit.
Through June 30, 2023, If the tax credit funds allocated by the Iowa Legislature have been exhausted when your application is approved, you will be placed on the waitlist for a tax credit in the following calendar/tax year. Effective July 1, 2023, the Iowa Economic Development Authority will discontinue the waitlist process until the waitlist is cleared.
Any tax credit in excess of the taxpayer’s tax liability for the tax year may be credited to the tax liability for the following five years or until depleted, whichever occurs first. Please consult a tax professional with questions.