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Tax Credit Base Raised

Posted: Saturday, May 21st, 2011 at 6:25 am
Author: KCII News - Bill Gatchel

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Governor Terry Branstad has raised the base amount for tax credits.  The Endow 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 and facilitating the creation of new community foundations.  Colleen Sojka with the Community Foundation of Washington County says people who give charitable donations are eligible for a 25 percent tax credit as well as the Federal Tax Credit.

Sojka says the new tax base signed into law by Governor Branstad raises the tax base to 800 thousand dollars which will provide approximately 4 and a half million dollars in Endow Iowa tax credits each year.  The Community Foundation of Washington County is an affiliate of the Community Foundation of the Great River Bend and manages eleven funds established for the betterment of the communities throughout Washington County.

There are ten members from Washington County on the Board of Directors and to learn more about The Community Foundation of Washington County, click here.