Plant Your Legacy
The Community Foundation’s Ag Cares Fund supports local food programs, youth programs and charitable ag-related activities. And, because it is an endowment fund (where the principal is invested and only income is used for grantmaking), donations to the Ag Cares Fund give forever.
Our highly customized donor services mean that you can donate whatever charitable gift makes the most sense for you:
- securities, and more!
The Benefits of Donating a Commodities Gift
You won’t pay self-employment, federal, or state income tax on commodities gifts, but you can still deduct expenses related to the production of the commodities you are donating. The tax savings can be considerable. Crops produced for sale in a farming operation are considered “ordinary income property.” The deduction of such a gift to a charitable organization is limited to the lesser of fair market value or cost basis. Typically, the cost basis has already been deducted from income as the cost of producing the crop, making the cost basis zero ($0). So, while the gift provides income tax savings, it does not provide you with a charitable tax deduction.
How to Complete a Gift of Grain or Beans
1. When you deliver the gifted grain or beans to the elevator, tell them what amount you are donating, by transferring ownership, to the Kosciusko County Community Foundation (KCCF). It is important that you do this before the commodity is sold.
2. Clunette Elevator, Louis Dreyfus, CereServ, Creighton Brothers, Deatsman Grain Farms and Mentone Grain & Feed have standing selling instructions from KCCF and know to send the check from the sale to us. If you work with a different elevator and would like us to contact them, we are happy to do so.
3. We will contact you after you make your gift to find out how you want to be acknowledged in our annual report. We will issue you a receipt with details about your gift.
What Will My Gift Support?
A gift of commodities will automatically go to the Ag Cares Fund, unless you instruct us differently. You have many funds to choose from when designating your gift. Click here for a full list of funds. If you would like to start a new named fund, please contact Brenda at 574-267-1901 or by emailing firstname.lastname@example.org.
Deatsman Grain Farms
Mentone Grain & Feed, LLC
The Community Foundation does not offer tax advice. Please contact your tax or financial advisor to determine the kind of gift that makes the most sense for you.