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How you can support Hoover Presidential Museum renovation
State tax credit available to individuals and companies
Hoover Museum Board of Trustees
Dec. 16, 2022 6:00 am
As members of the board of trustees at the Hoover Presidential Foundation, we are involved in the largest renovation of the Herbert Hoover Presidential Library and Museum’s exhibit space ever. And we can tell you, a renovation is long overdue!
It’s been just over 30 years since the last major renovation was completed, the longest span of all the National Archives and Records Administration presidential libraries. Last year, the Hoover Presidential Foundation began a $20 million effort called “Timeless Values Modern Experience,” the campaign for the renovation of the Herbert Hoover Presidential Library and Museum.
The permanent galleries have served us well for those 30 years but its time for a change to meet the expectations of a new generation. The plans include more interactive, hands-on displays and in-depth storytelling that will take the viewer on an emotional roller coaster through the ups and downs in Hoover’s life. We are very excited to be a part of this project!
The Iowa Legislature has shown their support of this project by creating and passing the Hoover Tax Credit into law last summer. The law provides a state tax credit equal to 25 percent of any gift given to the Timeless Values campaign, no matter the size of the gift, up to 1$ million or $2 million for married couples. It’s applies to individuals, companies or financial institutions who pay Iowa state taxes. And if you can’t use your whole credit in one year, it can be carried over a period of five years! The credit can also be applied without itemizing your taxes.
The tax credit program won’t last forever. It expires at the end of 2023, or when $5 million in credits have been claimed, whichever comes first. It’s easy to obtain, you simply make your gift to the foundation either in person, by mail or online to the campaign and they will process the paperwork for you. There’s even a greater tax savings if you donate appreciated stock! Details about the project can be found at www.TimelessValuesCampaign.org.
Giving to this campaign is more than just getting a great tax benefit. You are part of telling the story of Iowa’s native son, Herbert Hoover. There’s more to Hoover than just his presidency during the Great Depression. Did you know he was born in West Branch, Iowa and orphaned by age 9? He put himself through college and became a successful mining engineer, then gave it up to feed millions of starving people during World War I. He continued to feed the starving after his presidency as well, serving our nation and the world for over 50 years.
The Hoover story is an Iowa success story. Hoover was a role model worth emulating. As you think about which of the many worthy nonprofits to support this year, we encourage you to consider the Timeless Values Modern Experience campaign. It’s a story that needs to be told, and retold, as often as possible, about Herbert and Lou Henry Hoover and how they set an example we could all learn from.
Darrel Morf, Cedar Rapids
Jerry Meis, Iowa City
Stephen Wolken, Iowa City
Members, Hoover Presidential Foundation Board of Trustees
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