House Journal: Page 2227: Tuesday, June 3, 2003
Page 16
1 hold all funds. A qualified community foundation
2 shall not be required to meet this requirement.
3 d. Provide a plan to the board demonstrating the
4 method for distributing grant moneys received from the
5 board to organizations within the community or
6 geographic area as defined by the qualified community
7 foundation or the community affiliate organization.
8 3. Endow Iowa grants awarded to new and existing
9 qualified community foundations and to community
10 affiliate organizations shall not exceed twenty-five
11 thousand dollars per foundation or organization unless
12 a foundation or organization demonstrates a multiple
13 county or regional approach. Endow Iowa grants may be
14 awarded on an annual basis with not more than three
15 grants going to one county in a fiscal year.
16 4. In ranking applications for grants, the board
17 shall consider a variety of factors including the
18 following:
19 a. The demonstrated need for financial assistance.
20 b. The potential for future philanthropic activity
21 in the area represented by or being considered for
22 assistance.
23 c. The proportion of the funding match being
24 provided.
25 d. For community affiliate organizations, the
26 demonstrated need for the creation of a community
27 affiliate endowment fund in the applicant's geographic
28 area.
29 e. The identification of community needs and the
30 manner in which additional funding will address those
31 needs.
32 f. The geographic diversity of awards.
33 5. Of any moneys received by a lead philanthropic
34 entity from the state, not more than five percent of
35 such moneys shall be used by the entity for
36 administrative purposes.
37 Sec. . NEW SECTION. 15E.306 REPORTS -
38 AUDITS.
39 By January 31 of each year, the lead philanthropic
40 entity, in cooperation with the department, shall
41 publish an annual report of the activities conducted
42 pursuant to this division during the previous calendar
43 year and shall submit the report to the governor and
44 the general assembly. The annual report shall include
45 a listing of endowment funds and the amount of tax
46 credits authorized by the department.
47 Sec. . EFFECTIVE AND RETROACTIVE APPLICABILITY
48 DATES. This division of this Act, being deemed of
49 immediate importance, takes effect upon enactment and
50 is retroactively applicable to January 1, 2003, for
© 2003 Cornell College and
League of Women Voters of Iowa
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