Gift of Grain
What farmers are doing is pretty special. Upon delivering grain to the elevator, they now have the opportunity to designate a portion of the load to the Porter County Community Foundation. The Foundation then sells the grain and deposits the proceeds into the Agricultural Community Initiative Fund. Grants are then made from this fund, supporting agriculture educational programs in Porter County.
A gift of grain can be an easy, tax-efficient way to support the community.
How does it work?
Frequently Asked Questions
How is donating grain better than making a cash donation?
A cash-basis farmer can deduct full production costs on the donated bushels without realizing the taxable income from the sale. This results in savings on Federal, State, County, and Self-employment taxes which would typically amount to more than a standard charitable deduction for a cash gift.
Can a crop-sharing arrangement benefit from this type of donation?
No. Shares of crop are considered rental income and must not be reported as such.
Can I sell the grain, order the proceeds be sent to the Foundation, and still get the same tax benefit?
No. This would be considered a cash donation and would not qualify for the same tax benefits as donating and giving up control of the actual product prior to the sale.
Do I assume any risk between the time I donate the grain and the time the Foundation sells it?
No. The Foundation assumes all risk immediately upon the donation of the product.
Can I store grain on my farm and still make a gift to the Community Foundation?
Yes. You must execute a notarized "Grain Transfer Authorization" form to the Foundation in place of the elevators warehouse receipt.
Can a farm C-corporation benefit in the same way as a sole proprietorship?
C-corporations are treated differently from a tax perspective. Consult your tax professional for guidance in your specific situation.
Will the Gift of Grain count as income in government payments limitation caps?
No. A gift of grain does not count as income in your government payments limitation caps calculation.
Thank You Donors!
Gift of Grain Donors
Mr. Glenn Abbett
Mr. Tyler Abbett
Mr. and Mrs. Cliff Beach
Mr. Chris Birky
Mr. Bryce Birky
Mr. Craig Birky
Mr. Galen Birky
Mr. Greg Birky
Mr. and Mrs. John Birky
Ron and Cheri Birky
Mr. and Mrs. Curt Brust
Mr. and Mrs. Larry Bucher
Mr. and Mrs. Curt Frank
Mr. Joe Cannon
Mr. and Mrs. Jed Chickadaunce
Mr. Carl Peterson
Co-Alliance LLP - Malden Branch
Crop Production Services
Mr. Dave Good
Mr. Ken Good
Mr. and Mrs. Mark Good
Mr. and Mrs. Dale Graeber
Mr. and Mrs. John Gruel
Mr. and Mrs. Ryan Hefner
Mr. and Mrs. Perry Heinold
Mr. Michael Herlitz
Mr. and Mrs. Wayne A. Herlitz
Bill and Karen Higbie
Mr. and Mrs. Marvin King
Mr. Carl Peterson
Jane Maxwell
Mark and Kim Maxwell Family
Mr. Brad Metzger and Mr. Chris Metzger
Mr. and Mrs. Jeffrey R. Overholt
Mrs. Emily Remster
Mr. and Mrs. Dan Roeske
Mr. and Mrs. Paul Rommelmann
Mr. Rob Sands
Mr. Don Schoon
Mr. and Mrs. David Sharp
Mr. Matthew Shurr
Mr. and Mrs. Dennis Steinhilber
Ms. Martha Sharp
Tim and Laura Stoner
Ms. Aimee Tomasek and Mr. Bob Casto
