Tenco establishes Endow Iowa Account

The Tenco Foundation has recently established an Endow Iowa Account with the Community Foundation of Greater Des Moines that provides an avenue to create a perpetual endowment for Tenco and the people with disabilities they serve. Since 2005, Iowans have given almost $200 million to these permanently endowed funds to create lasting good in their communities.

When you donate to the Tenco Foundation Account through the Endow Iowa fund, you are eligible to receive a 25 percent state tax credit, in addition to any federal tax benefits you may qualify for when making a gift to the Tenco Foundation. This unique program helps you meet your charitable giving goals and provides support for Tenco?s mission for generations to come.

Endow Iowa qualified charitable gifts for the Tenco Foundation must be made through the Community Foundation of Greater Des Moines and can be made by individuals, businesses, corporations, or financial institutions.  It becomes part of a permanent endowment fund, with a limited annual distribution to the Tenco Foundation of 5 percent.

How it Works:

? A variety of gifts qualify for Endow Iowa Tax Credits including cash, real estate, farmland, appreciated securities and outright gifts of retirement assets.

? Tax credits of 25 percent of the gifted amount are limited to $300,000 in tax credits per individual for a gift of $1.2 million or $600,000 in tax credits per couple for a gift of $2.4 million if both are Iowa taxpayers. No minimum gift is required to qualify for Endow Iowa Tax Credits.

? Endow Iowa Tax Credits are available on a first-come/first-serve basis until the yearly appropriated limit is reached. If the current year?s tax credits have been exhausted, qualified donors are eligible for next year?s Endow Iowa Tax Credits. This program is very popular, and remaining Tax Credits through Endow Iowa for 2018 are quickly being utilized; when the 2018 Tax Credits are exhausted, Endow Iowa gifts that qualify in the remainder of 2018 are eligible for 2019 tax credits.

? All qualified donors have five years to use their Endow Iowa Tax Credits.

The present value of the Tenco Foundation Endowment Account is $101,000; for information call the Community Foundation of Greater Des Moines at 515-883-2626, or contact Bob Morrissey at Tenco 641-682-8114 or