Endowment

Above and beyond Rivermont’s need for yearly operating support is our need for the School’s long-term financial health. The Rivermont Endowment Fund, established to ensure the future of the School, is essentially our investment or savings account. Endowment funds are set aside in a permanent fund and carefully invested and managed, while interest earned from the investment of the principal provides reliable income in perpetuity. As the endowment grows, Rivermont’s ability to provide an excellent education increases, as does our financial security.

Endowment Frequently Asked Questions

What is the Rivermont Endowment Fund?

The Rivermont Endowment Fund, established to ensure the future of the School, is essentially our investment or savings account. Endowment funds are set aside in a permanent fund and carefully invested and managed according to policies established by the Board of Trustees. The interest earned from the investment of the principal provides reliable income in perpetuity.

While the Rivermont Endowment Fund provides long-term security for the School, interest income also funds things like student tuition assistance, salaries and benefits to attract and retain talented faculty and staff, improvements and expansions to facilities, technology enhancements, and more.

In addition to the endowment fund invested and managed by the School and their financial advisors, Rivermont has also established an endowment with the Community Foundation of the Great River Bend, which offers special tax benefits for Iowa residents. For complete details, see the next questions.

What are the tax benefits of making a contribution to the Rivermont Endowment Fund?

Rivermont is a nonprofit organization and all gifts are fully tax-deductible as allowed by law. However, in addition to the endowment fund invested and managed by the School and their financial advisors, Rivermont has also established an endowment with the Community Foundation of the Great River Bend, which offers special tax benefits for Iowa residents.

Iowa residents who make a gift to the endowment through the Community Foundation qualify for a 25% tax credit on their Iowa State income taxes through the Endow Iowa Tax Credit Program. This is in addition to the federal income tax deduction for the donation. For complete details on this program, see the next questions.

Illinois residents, of course, are also encouraged to donate to the Rivermont Endowment Fund and reminded that all endowment donations provide tax benefits to the donor and support the long-term financial stability of the School. Stay tuned, as Illinois has similar legislation pending to introduce Endow Illinois. While it has not yet passed, it does have strong and growing support!

How does Rivermont work with the Community Foundation of the Great River Bend?

The Community Foundation of the Great River Bend is a charitable organization created by and for the community. Individuals, corporations, private foundations, and nonprofit organizations work with the Community Foundation to create permanent charitable funds, which the Community Foundation invests and administers. These individuals, corporations, private foundations, and nonprofit organizations receive professional guidance and assistance in growing their endowment assets and benefit from the Community Foundation’s expertise in gift planning, investment management, donor engagement, and more.

Iowa taxpayers who donate to the Rivermont Endowment Fund through the Community Foundation qualify for an Iowa income tax credit of 25% (in addition to the federal income tax deduction for the donation) under the Endow Iowa Tax Credit Program. To qualify for this tax credit, gifts must be to an endowment at a qualified community foundation. This is why gifts to the Rivermont Endowment Fund must be made through the Community Foundation to qualify. For complete details on the Endow Iowa Tax Credit Program, see the next question.

For more information on the Community Foundation, click here.

How does the Endow Iowa Tax Credit Program work?

The Endow Iowa Tax Credit Program was established to encourage building permanent endowments that benefit Iowa. Under the program, gifts made to an endowment at a qualified community foundation qualify for an Iowa income tax credit of 25% (in addition to the federal income tax deduction for the donation). Thus, Iowa taxpayers who donate to the Rivermont Endowment Fund through the Community Foundation qualify for an Iowa income tax credit of 25%.

To qualify for this tax credit, gifts must be to an endowment at a qualified community foundation that meets standards set forth by the Council on Foundations. This is why gifts to the Rivermont Endowment Fund must be made through the Community Foundation to qualify.

Tax credits through Endow Iowa can be claimed by individuals or businesses who pay taxes in Iowa. Tax legislation does not set a minimum gift under this tax credit program, though the Community Foundation has set a $100 minimum per gift. It is recommended that you contact your tax advisor with specific questions regarding your taxes.

For more information on the Community Foundation and Endow Iowa, click here.

How can I get more information?

Have a question that wasn’t answered here? Give us a call at (563) 359-1366, we would be happy to answer any questions you might have.

Gifts can be made online: give-via-credit-card-link-imageor by mail to:
Rivermont Collegiate Development Office
1821 Sunset Drive
Bettendorf, IA 52722