Advantages for Donors
Giving through the Community Foundation offers several benefits for donors.
• 20 percent Tax Credit. Endow Iowa legislation offers Iowa taxpayers the opportunity to receive a 20% tax credit on their state taxes in addition to the normal state and federal charitable income tax deductions by giving to an endowment fund with the Community Foundation.
• Tax-Free IRA Rollovers. A new law makes it possible for donors to give individual retirement account (IRA) assets to charity until December 31, 2007, free from federal tax. The new law allows those age 70 1/2 and older to transfer up to $100,000 from an IRA to charity this year tax-free. If married, each spouse can transfer $100,000 this year from his or her IRA. In addition to this tax-free rollover, the donor is eligible to receive the 20% state tax credit by giving to an endowment fund with the Community Foundation.
• Accountability - The Elderbridge Agency and the Community Foundation work in close partnership to oversee the use of the dollars you contribute. This ensures that the principal of the fund is protected year after year.
• Impact. Combining smaller gifts into one large single fund makes it possible to meet more of the organization's needs and make a greater impact.
• Flexibility. The Community Foundation offers a variety of giving options. If you have a charitable intent, they can work with you to make it happen.
Ways to Give
The Community Foundation of Northeast Iowa offers a variety of ways to contribute to the Elderbridge Endowment Fund.
• Outright Gift. You can make a gift of cash, stocks, bonds, real estate, or other assets. Your charitable gift qualifies for a tax deduction under federal law.
• Bequest by Will. You can designate a gift or portion of your estate to the Elderbridge Endowment Fund and, in some cases, receive a substantial reduction in federal gift and estate taxes.
• Charitable Gift Annuity. You can make a gift of cash or property to the Elderbridge Endowment Fund now, get immediate tax benefits, and ensure that you or a loved one receive fixed quarterly or annual income payments for life.
• Charitable Remainder Trust. You can place cash or property in a trust that pays annual income to you (or another named beneficiary) for life. After your death, the remainder of the trust transfers to the Community Foundation and is placed into the Elderbridge Endowment Fund. You receive significant income tax benefits the year you establish your trust.
• Charitable Lead Trust. You can place cash or property into a trust that pays a fixed amount to the Elderbridge Endowment Fund for the number of years you select. Once this period ends, the assets held by the trust are transferred to the beneficiaries you name. In some cases, you receive a substantial reduction in federal gift and estate taxes.
• Life Estate Contract. You can transfer your house to the Elderbridge Endowment Fund and still enjoy living at home.
* Retirement Plans. These include IRAs, etc. By naming the Elderbridge Endowment Fund as beneficiary of a retirement plan, 100% stays in the community to benefit the organization in your name. (See above also)
• Life Insurance. Life insurance proceeds can be designated to the Elderbridge Endowment Fund in total or a portion.
To make a gift or for more information contact Elderbridge at 800-543-3280.
To make a gift to help meet current needs, contact Elderbr
Many name the Community Foundation as the owner and beneficiary during their lifetime. This entitles the donor to take a charitable tax deduction for the payment of the annual premium.
The Community Foundation of Northeast Iowa also provides us with accountability in the services they provide and assistance with our endowment fund. To learn more about the Elderbridge Endowment Fund and how you can make a contribution, contact the Community Foundation of Northeast Iowa at (319) 287-9106.
Elderbridge Agency on Aging, a 501(c)(3) organization, also accepts direct charitable contributions to help cover the current costs of the many programs and services that it provides to older adults in its 20-county service area. With public funding falling far short of the total program costs, Elderbridge and its clients must rely on supplemental funding from private sources to fulfill its obligations. To make a gift to help meet current needs, contact Elderbridge at 800-543-3280.