Gifts to the Our Saviour’s Lutheran Church Foundation are tax deductible as charitable donations to the extent allowed by law. Donors who make qualifying gifts may apply for Endow Iowa Tax Credits. The Endow Iowa Tax Credit Program allows taxpayers to take a 25% Iowa tax credit for their donation. Donors are also eligible for a federal charitable income tax deduction for this contribution. This exciting program benefits both you and Our Saviour’s Lutheran Church. For more information, contact Dennis N. Nissen, Iowa Program Officer with Community Foundations of Southwest Iowa at 800-794-3458.
The Our Saviour’s Lutheran Church Foundation was founded in 2006 to establish an endowment fund with the Audubon County Community Foundation.
The OSLC Foundation was made possible by two generous bequests. Others may contribute to the foundation through bequests, donations, memorials or through estate planning. To learn more about giving, click here: Endow Iowa.
A three-member Foundation board oversees the Endowment Fund and makes recommendations on the annual distribution of funds.
Annual earnings from the Foundation investments are distributed with Council approval. Currently, the distribution is:
- 50% to Youth (scholarships, Workcamp, etc)
- 50% to Mission Outreach
Through the Audubon County Community Foundation (a public foundation) the procedures are already in place to accomplish the objectives of creating a permanent fund with sound money management that will continually benefit the Our Saviour’s Lutheran Church Endowed Fund. An agency endowment normally benefits the programs of a nonprofit agency. In this case, an agency endowment supports Our Saviour’s Lutheran Church.
• Create an Agency Endowment Agreement through the Audubon County Endowment Fund entitled Our Saviour’s Lutheran Church Endowed Fund.
• Agency Endowment Agreement prevents fund invasion by future foundation finance committees.
• Gifts to the Fund are tax-deductible to any other donors who like the Fund’s mission to provide ongoing support of Our Saviour’s Lutheran Church.
• Low administration fee. A nonprofit working for the benefit of a nonprofit.
• Grant expense (grant payout) each year.
• Interest earnings maximized by co-mingling funds with 30th largest Community Foundation in America.
• Staff person to work with gift planning or gift arrangements for the Our Saviour’s Lutheran Church Endowed Fund.
• A 20% Tax Credit is available to donors making donations into Our Saviour’s Lutheran Church Endowed Fund.
• New gifts to the Fund will be matched dollar for dollar by the Southwest Iowa Foundation and credited to the Audubon County Endowment Fund.
The Audubon County Community Foundation is one of nine “Qualified Community Foundations” in Southwest Iowa, as recognized by the Iowa Department of Economic Development. The nine community foundations are collectively known as the Community Foundations of Southwest Iowa and are affiliated with the Omaha Community Foundation. These foundations meet or exceed the Standard for Community Foundations as established by the Council on Foundations in Washington DC.