Through the Clayton County Foundation for the Future, this is possible. Clayton County Foundation for the Future (CCFF) was created with the intention of setting up a perpetual endowment fund that would serve the needs of all Clayton County and the 19 communities within the county.
Your money can be endowed in a number of ways:- designate a particular organization
- endowed to a field of interest
- permanently endowed where only 5% can be spent out of the fund each year
- money can be invested in various amounts, when $10,000 is reached, it can be endowed
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DID YOU KNOW YOU COULD....
Turn $3,800 into $10,000 overnight with potential tax savings.
Call 563-588-2700
| Amount of Gift |
$10,000 (Maximum Gift $500,000) |
| Iowa Tax Credit |
$2,000 (20% of charitable gift) (a) |
| Net Federal and State Deduction |
$10,000(deduct entire gift on both federal & state taxes) (b) |
| Federal and State Tax Rate |
41.9% (c) |
| Federal and State Tax Savings |
$4,200 (d) |
| Total Tax Savings |
$6,200 |
| Net Cost of Gift |
$3,800.00 (after qualifying tax deductions) |
Notes:
(a) 20% of the charitable gift made to a community foundation, maximum gift of $500,000.
(b) The donor can deduct the entire amount of the gift on both state and federal taxes.
(c) Individual marginal tax rates vary from 0% to 41.9%.
(d) Assumes that individual taxpayer utilities Schedule A - Itemized Deductions on their
federal return.
(e) Use appreciated securities and turn $1,800 into $10,000!
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Whatever you spend is gone.
What you keep, someone else gets.
What you give is yours forever.
“When life has been good to you,
it's good to give something back. Through the Community"
For grant applications, contact:
Call 563-245-2201 or 1-800-488 7572
Email
Don’t miss this new tax savings opportunity!
IRA Charitable Rollover
For a limited time only, anyone 70 1/2 or older can make an outright gift from their IRA of up to $100,000 a year to a qualified charity without first claiming it as income and being taxed.
For more details click here.
CONTACT:
Darla Kelchen, Exec. Director
Clayton County Development Group
132 Main St., PO Box 778
Elkader, IA 52043-0778Call 563-245-2201 or
1-800-488 7572
Email |
FOR MORE INFO ON CCFF, OR IF YOU'RE INTERESTED IN MAKING A DONATION, CONTACT ONE OF THE FOLLOWING:
CCFF BOARD OF DIRECTORS
Lanny Kuehl, New York Life Insurance
Email
Keith Garms, Elkader
Freedom Bank
Email
Larry Thein, Edgewood
Morning Mist Cabins
Email
Roger Halvorson, Marquette
Eagle's Landing
Email
Jim Moritz, Monona
Freedom Bank
Email
Barb Pape, Guttenberg
Email
Erling Lohmann, Strawberry Point
Retired
Email |
