Endow Iowa tax credits still available for IGNITE campaign

The IGNITE Clear Lake Fireworks Endowment Campaign is working towards its close, reports Chamber CEO Tim Coffey. 

“There is still time for individuals and businesses to make a gift to the campaign and be 

eligible for an Endow Iowa tax credit of 25 percent and also qualify for a matching gift from the John Ruan Foundation Trust,” Coffey said.

There is close to $1 million in Endow Iowa tax credits still available for prospective donors in the Endow Iowa account, according to Coffey.  He cites an example of a $10,000 gift, with federal tax deductions and Endow Iowa tax credits eligibility (and depending on the donor’s tax bracket) only costing $3,540. 

“Even if the Endow Iowa funds are used up for 2014, donors who did receive eligibility for the Endow Iowa tax credit will be grandfathered in during 2015, when funding is replenished by the state legislature,” Coffey noted. 

Gifts can be sent to the Clear Lake Chamber office with checks made out to IGNITE Clear Lake. The Chamber office has a five-year pledge form that can also be used, making it easier to make a larger gift.

“These gifts will impact the Clear Lake community for generations to come, bringing a stream of very substantial income into our local economy and showcasing our community annually, with our fireworks,” Coffey concluded.  

For more information or questions, contact the Clear Lake Chamber office, 641-357-2157, or email him at [email protected].