The Community Foundation of Washington County through the Greater Cedar Rapids Community Foundation is a public charity that allows donors to qualify for maximum tax advantages under federal and state law. In addition, a gift to an endowed fund may also be eligible for Iowa tax credits that are only available through qualified community foundations. Giving through the Community Foundation of Washington County can provide maximum tax benefits, while supporting the causes you care about most.
The Community Foundation provides access to Endow Iowa tax credits – a 25 percent state tax credit – in addition to normal federal charitable income tax deductions for certain endowed charitable gifts.
The Community Foundation accepts a variety of gifts. Gifts of appreciated assets, such as stocks or real estate, receive normal charitable deductions while eliminating capital gains tax on the appreciation.