Tax Benefits

 

The Quad Cities Community Foundation is a 501(c)(3) tax-exempt, publicly supported organization. Home to over 1,000 funds, we have granted over $148 million across the Quad Cities and beyond. We have the experts and resources that can help everyone give in the most lasting and tax-efficient ways possible.

We are accredited by the Council on Foundations’ National Standards for Community Foundations, meaning that gifts made to the Community Foundation are eligible for the Illinois Gives and Endow Iowa tax credit programs.

The Community Foundation offers more than a dozen giving options—including stock, real estate, grain and livestock, life insurance, trusts, and much more—to provide maximum flexibility for donors.

  • Through the Illinois Gives Tax Credit Program, as an Illinois income taxpayer, your gift to an eligible endowment at the Community Foundation may qualify you for a 25% Illinois state income tax credit. To pursue this opportunity, you will first create a MyTaxIllinois account using the link above—ideally before making your gift. We are happy to assist you with this step and serve as a resource as you navigate the process.

  • Through the Endow Iowa Tax Credit Program, as an Iowa income taxpayer, your gift to an eligible endowment at the Community Foundation may qualify you for a 25% Iowa state income tax credit. To take advantage of this opportunity, simply make your eligible donation. From there, we will prepare the application for you to complete and submit it to the State of Iowa on your behalf for review and approval. We are happy to guide you through each step and serve as your resource throughout the process.

  • Through Qualified Charitable Distributions, IRA owners aged 70 ½ and over have a unique option for making a tax-free contribution each year.

  • The OBBBA introduces several updates to charitable giving rules, offering new opportunities and limitations depending on how taxpayers file:

    For those who claim the standard deduction: Starting in 2026, taxpayers can claim a separate deduction of up to $1,000 ($2,000 for married couples filing jointly) for cash gifts, provided they are not made to a private foundation or donor advised fund.

    For those who itemize deductions: The OBBBA has now introduced a floor for charitable contributions. Beginning in 2026, only contributions exceeding 0.5% of adjusted gross income will be deductible.

    Cash gifts to public charities will continue to be deductible up to 60% of AGI.