Grain farmers have a vital role in moving lives forward; growing food that nourishes our community and the world. The community foundation, too, is committed to improving quality of life in the areas we serve, both today and in the future. Giving a gift of grain is a simple way to make a lasting difference.
Gifts of grain are a unique way to make a charitable gift. Using grain to make a gift to the community foundation – which may be designated for the purpose you choose – can be a wonderful way to invest in the future while achieving tax savings.
How to Give a Gift of Grain
- Let the community foundation know first to which elevator you will be delivering the grain. Simply call us at 785-823-1800.
- The gift should be from unsold crop inventory (not warehouse receipts) with no sale or pricing commitment made prior to the gift.
- Deliver the grain to the elevator in the community foundation’s name.
- After the grain is donated, the foundation will communicate directly with the elevator regarding instructions to sell the grain. Proceeds will be placed into the foundation fund of your choice.
- We will send you a donation receipt for your gift. Remember, it is not deductible for income tax purposes. The advantage is, you don’t have to declare this amount of grain as income to your farming operation, which lowers your income and self-employment taxes.
Always consult with your tax advisor to determine whether a gift of grain is appropriate for your tax situation.
Contact Susan Weis, Director of Finance, at firstname.lastname@example.org, or call 785-823-1800.