Other Ways to Give

Giving a gift to DMARC’s Endow Iowa Fund is a great way to help support DMARC’s mission! Contributing to the Fund allows you to make a gift to the future of Iowa while also receiving a generous 25% state tax credit. Our Endow Iowa Fund is housed at the Community Foundation of Greater Des Moines. Endow Iowa was created to enhance the quality of life of Iowans through increased philanthropic activity and encourages new investments to existing community foundations across Iowa.

In 2018, the new Tax Cuts and Jobs Act went into effect, bringing many changes to the tax code. Those include an increase to the standard deduction ($12,000 for singles and $24,000 for married couples who file jointly), as well as the elimination of personal exemptions. The charitable giving deduction remains for taxpayers who itemize. Under the new law, this break is limited to 60 percent of adjusted gross income for cash gifts, but you can carry forward by up to five years any amount that exceeds that.

Due to the higher standard deduction, fewer filers are expected to do so in the future. However, there is a strategy that filers might consider – it’s called bunching.

Bunching is where filers plan their charitable gifts over two (or more) years. They give the same amount that they would have over that span of time, but they give it all in one year. Bunching charitable contributions all in one year allows filers to itemize deductions where otherwise, they would not be allowed to do so.

Example:

Consider a married couple that is claiming the maximum property and state income tax deduction of $10,000. This couple also paid $6,000 in mortgage interest in a year.

They will need at least $8,000 of charitable gifts in order to hit – and surpass – the $24,000 standard deduction threshold.

If this couple normally gives $4,000 to charity annually, they can accelerate the gift by cramming in two years of donations into one tax year. This way, they itemize on their taxes one year and take the standard deduction the next.

As you consider your charitable giving strategy, be sure to explore the tax benefits of donating appreciated stock. The following is an example of how a donation of this kind can be advantageous to the donor.

To learn more about donating appreciated stock, please view the following article: Leveraging Appreciated Positions to Reduce Taxes and Increase Your Charitable Giving.

Example:

Mr. Jones is a donor in the 31% tax bracket who decides to make a gift of stock worth $100,000 that he originally purchased for $40,000 a few years ago. His tax savings will be as follows:

If Mr. Jones instead sold the stock and donated the proceeds, his tax savings would be far more limited:

Questions?

Contact Leslie Garman, CFRE at lgarman@dmarcunited.org or call (515) 277‑6969 x215.

Note: in all cases it is recommended that donors consult with their lawyer and financial planner for counsel and advice.

It is a time of high need for food assistance across central Iowa communities.

While Iowa farmers are well-known for feeding the world, many are increasingly aware of how hunger and lack of access to food affects their neighbors and communities.

In response, these industrious keepers of the land are stepping up and making their mark on the local food system by donating a portion of their yearly harvest to DMARC.

A farmer can direct a portion of his/her harvest (i.e., a truck load of grain or the yield from an acre of land), to DMARC through a local grain elevator. The crop donation is then sold and converted to cash that is used to buy food items distributed through the Food Pantry Network.

DMARC extends sincere gratitude to farm operators and gardeners who donate gifts of grain and fresh produce. These donations help DMARC provide nutritionally sound and locally sourced foods that increase the stability of the food system across our community and state.

Questions?

The Farm to Food Donation tax credit is for farmers who donate self-produced food commodities to food banks and food pantries in an amount equaling the lesser of $5,000 or 15% of the value of the commodities donated during the tax year for which the credit is claimed. Qualifying food commodities must be “apparently wholesome food”, meaning food that meets all quality and labeling standards imposed by Federal, State, and local laws and regulations even though the food may not be readily marketable due to appearance, age, freshness, grade, size, surplus, or other conditions. DMARC is a registered organization with the Iowa Department of Revenue to receive Farm to Food Donations.

Download a form to complete and send in to DMARC Offices.

DMARC donors can double or triple the impact of financial gifts and/or volunteer service to DMARC.

In most cases, if your employer offers a matching gift program, all you need to do is complete and submit a form that is available through your personnel or human resources office.

Some companies also match gifts for board members, retirees or employee spouses.

The State of Iowa’s annual One Gift Campaign typically is held in October, although State workers may contribute at any time during the year. The program allows State employees to contribute to DMARC and other approved charitable agencies through payroll deduction.

When you donate through One Gift, 100% of your gift goes to your charity of choice and stays in Iowa, where it helps your neighbors, friends, and family.

Visit the Iowa Department of Adminstrative Services (DAS), to learn more or pledge, use code ‘2011’ to designate a gift to DMARC.