When you donate to our organization, without purchasing a good or service, your donation is tax-deductible. This is because we are a registered non-profit organization. Tax deductibility is an incentive the government offers in order to encourage charitable giving by people like you!
While you should always consult a tax professional to see what tax benefits you qualify for, donations to our organization are typically 35% deductible under federal tax law. Additionally, a donation made specifically to the "Shelby County Historical Endowed Fund" qualifies for an extra 25% tax credit through the Endow Iowa program.
What this means, assuming you qualify for the 35% federal deduction, is that a donation to our Endowed Fund is Tax deductible by 60%! For instance, if you donate $10,000 to out Endowed Fund, you would be able reduce the taxes you pay this year by $6,000. This brings the total cost of your gift to only $4,000 - but we would still recieve the full amount of your gift!
What is the Endowed Fund?
The Shelby County Historical Endowed Fund is a monetary fund set up under the Shelby County Community Foundation. This fund has a strong interest rate to promote the growth of our organization, but we are unable to withdraw from its principal balance. Endowment funds are structured this way in order to aid organizations, such as ours, in perpetuity. So, while an endowment may give the appearance of having large financial resources - we in fact are unable to utilize nearly all of those resources at any given time.
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