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Wright County Charitable Foundation reports nearly $9 million in assets and $379,000 granted in 2024
Summary
Dwayne Asbee told supervisors the foundation oversees 39 funds with nearly $9 million in assets and distributed roughly $379,000 in grants in 2024, including gaming-revenue grants and funds administered through affiliate accounts at the Community Foundation of Greater Des Moines.
Dwayne Asbee, representing the Wright County Charitable Foundation, reported to the Board of Supervisors on Jan. 13 that the foundation held about $9 million in total assets as of Dec. 31 and granted roughly $379,000 during 2024 through a combination of gaming-revenue grants and distributions from individual funds.
Asbee said the foundation is an affiliate of the Community Foundation of Greater Des Moines (the host foundation) and currently administers 39 separate funds under its umbrella. He described the organization’s two primary purposes as preserving local wealth transfer and directing charitable dollars to projects within Wright County.
Asbee provided a breakdown showing gaming-revenue grants and affiliate fund distributions account for the annual granting total; he said the foundation’s gaming revenue over its history has produced more than $1.8 million in grant awards. He told supervisors the foundation’s annual granting program was consolidated to a single yearly cycle two to three years ago, after previously running spring and fall cycles.
Asbee also described fund-establishment options, including a seed fund pathway that allows smaller initial gifts to mature into a full $10,000 fund over time, and Endow Iowa permanent funds that offer a 25% state tax credit for qualifying donors. He said the statewide Endow Iowa tax-credit program has provided $6 million in tax credits in recent years and that local participation helps preserve charitable assets in Iowa communities.
Asbee said the foundation uses youth representatives from local school districts to participate in grant-review committees and highlighted legacy funds—planned posthumous gifts that become funds after a donor’s death—as a growing area of work. He thanked the county for its long-standing sponsorship and said he hopes supervisors will consider continued financial support during budget discussions.
Supervisors asked clarifying questions about fund minimums, grant cycles and administration; Asbee said community outreach and fund development have slowed somewhat in recent years and that foundations statewide are also seeing varied activity.
