community foundation kib conference 2015

Live…Give…Better Together.

Community Foundation of Greater Des Moines

Joe Sorenson, Director of Affiliate Relations

Our Mission: improve quality of life for all by promoting charitable giving, connecting donors with causes they care about and providing leadership on important community issues…we’re simply better together.

MORE ABOUT OUR COMMUNITY FOUNDATION

Administers more than 1,400 charitable funds

$375 million in assets under management & administration

Just under $26 million in grants in 2014

Facilitated gifts of more than $51 million in 2014

39 affiliates throughout Iowa

Endow Iowa

Endow IowaWith Endow Iowa, donations to Community Foundation endowments cost donors less.

$10,000Less tax benefits:Net federal tax savings -3,960Endow Iowa Tax Credit -2,500Net Cost of Gift $3,540

Disclaimer: Information provided is general and educational in nature. It is not intended to be, and should not be construed as, legal or tax advice. The Community Foundation does not provide legal or tax advice. Consult an attorney or tax advisor regarding your specific legal or tax situation.

County Endowment Fund Program

County Endowment Fund Program

Counties without a gambling institution receive portion of gambling tax revenue

In 2014 each eligible county received $121,923.00

25% goes into a permanent endowment75% is to be granted out into the

community

Visit IowaCommunityFoundation.Org to find your local community foundation

Keep Iowa GrowingIowa’s Farmland Giving Program

…for the love of the land

Why?Farmland is by far Iowa’s most valuable asset:

Total number of farms 88,631 Total amount of farmland 30.6 million acres Average farm size 345 acres Average dollar value per acre $8,716 Aggregate value of Iowa farmland

is estimated at $267 billion

Landowners Can…

⁻ Make a gift of farmland in which the revenue benefits the charity of their choice immediately.

⁻ Be flexible in making a gift of farmland but retaining a life interest and an income stream for their lifetime.

⁻ Suggest a tenant farmer.⁻ Establish a variety of fund types, such as a Donor Advised

Fund, Family Foundation Fund, Designated Fund, Field of Interest Fund, Better Together Endowment, or their County Community Foundation Endowment.

Donor ExampleOutright Gift

– 80 acres owned by landowners as an investment

– Eligible for the Endow Iowa tax credit

– Recommended their tenant farmer

– Held in Keep Iowa Growing for a term of years

– Rental income flows into donor advised fund to support

donor’s favorite charities

Donor ExampleRetained Life Interest

₋ Seven Farms – works with local farm management company

₋ Donor retains right to the income throughout their lifetime

₋ Held in Keep Iowa Growing for term of years then then the

farmland will be sold

₋ Recommends that farm be sold/rented to a young farmer

₋ Designated fund will support charities in the Council Bluffs

community

Donor Example

Outright Gift

– 135 acres owned by a daughter (inherited) who lives in

Colorado

– She has State of Iowa tax liability

– Recommends Tenant Farmer

– Rental income will support a scholarship at her father’s

community local high school

QUESTIONS?

Joe Sorenson, Director of Affiliate Relationssorenson@desmoinesfoundation.org(515) 447-4210www.desmoinesfoundation.org