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Foundation FAQ

 How do I receive my tax credit for a donation?

We will have you sign a tax credit application form which is then attached to documentation that your donation is eligible for the Endow Iowa tax credit. The Iowa Department of Economic Development will issue the tax credit letters to be filed with your Iowa taxes.

My tax credit letter has not arrived.

The IDED issues the letters. It usually is several weeks after your contribution before you receive the letter.

The tax credits are all used for this year. Does that mean I won't receive a tax credit?

If the 2007 tax credits are all used prior to the end of the year, eligible tax credits will be carried over and received in January of 2008 to be applied to 2008 taxes. The usual state and federal tax deductions may still be taken in 2007 even if the tax credits take place in 2008.

Why should I let you know if I include the Foundation for the Enhancement of Mitchell County in my will?

It is important to us to be know what you would like your gift to be used for and it would be helpful to be able to discuss it with you.

How can I add the Foundation for the Enhancement of Mitchell County as a beneficiary if I already have a will?

Once you have made a decision to include a bequest to the FEMC in your existing will, you should contact your attorney to make arrangements. Generally, a simple codicil to amend a will is easy to arrange.



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