IRAs, Charitable Trusts, and Endowments:
For individuals who are 70.5 years old or older you can transfer up to $100,000 from an individual retirement account without being subject to federal income taxes on that distribution. At present, this law no longer has an expiration date, so you are free to make annual gifts to Raising Readers in the Heartland this year and in years to come. Learn more about IRAs.
Endow Iowa Funds: The Community Foundation of Greater Des Moines
The Endow Iowa Tax Credit program was created to enhance the quality of life for the citizens of Iowa through increased philanthropic activity by encouraging new investments to existing community foundations across Iowa.
Those who give to a permanently endowed fund are eligible to receive a 25% state of Iowa tax credit for their gift. Community members are able to take advantage of the tax credits in combination with federal tax deductions. The tax credits can be claimed by individuals, businesses, or financial institutions.
The Endow Iowa Tax Credit is awarded on a first-come, first-served basis for gifts made to a permanent endowment fund, established for the benefit of Iowa charitable causes, at a qualified community foundation in Iowa. More information can be found on the Community Foundation of Greater Des Moines’ website.
Next steps:
Be sure to seek the advice of your financial or legal advisor if you have questions.
If you include Raising Readers the Heartland in your charitable giving plans, please use our legal name and federal tax ID number:
Legal Name: Raising Readers in the Heartland
Address: 5820 NW 142nd Avenue, Polk City, IA 50226
Federal Tax ID Number: 85-4140372
The information provided is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.
If you have questions, please contact RRITH at questions@rrith.org. We appreciate your generous giving in support of Raising Readers in the Heartland.