Give a Gift of Grain
You prepare, you plant, you nurture, and you grow. That’s what we do with the charitable gifts entrusted to our local Foundations. As a collaboration of the DeKalb County Community Foundation and the DeKalb County Farm Bureau Foundation for Agriculture, Gift of Grain is a charitable giving option for farmers and landowners.
Together, we are working to improve the quality of life in DeKalb County by connecting donors with their charitable passions, fostering links between community organizations, and convening local leaders to promote the common good.
We invite you to join in giving back, getting connected, and building a better community throughout DeKalb County.
Why Donate Grain?
Donating a gift of grain is a simple way to make a lasting difference. The value of the grain can be used to support charitable causes in your community, support a specific nonprofit organization important to you, or start an endowed fund in the name of your family. No matter what you chose to support, you can be sure that your gift of grain is growing the future of your community.
What Are the Benefits?
By giving grain, you avoid including the sale of the grain in your farm income. Although a charitable income tax deduction is generally not available to you, the avoidance of declaring it as income is a significant benefit.
Your gift of grain makes a positive impact in the community. By aligning generosity with your charitable interests, you can provide opportunity and support to many areas including:
- Agriculture Awareness
- Community Development
- Local Charities
- Natural Resources
- Nonprofit Support
How It Works
You deduct the cost of growing the crops which typically results in saving self-employment tax, federal income tax, and state income tax. You can benefit even if you don’t itemize your deductions and take the standard deduction. An example of this is shown in the illustration.
*You pay self-employment, federal income, and state income tax based on adjusted gross income (less typical exemptions, deductions, etc.).
Completing Your Gift
When you donate grain, you will need to decide how you would like your donation to be used. You may choose either the DeKalb County Farm Bureau Foundation or the DeKalb County Community Foundation. Please note: The account holder for the Gift of Grain account is the DeKalb County Community Foundation (See step 5 below).
Following these steps will help to ensure you receive the intended tax benefits from a gift of grain:
- Let the Community Foundation know which elevator you will be taking the grain to. The gift should be from unsold crop inventory with no sale commitment made prior to the gift.
- Deliver the grain to the elevator to the Gift of Grain account.
- Request a settlement report from the elevator. This must show the Community Foundation as the owner of the grain.
- We will provide you with a donation receipt for your gift. Remember it is non-deductible on your taxes. Instead, you won’t declare this amount of grain as income to your farming operation.
- After the grain is donated, the elevator will sell it at the spot closing price on the day of delivery for the Gift of Grain account. The settlement sheet will name the Community Foundation as the seller of the grain and the Community Foundation will receive the sale proceeds for your intended purpose.
* If you deliver the grain, sell it and order the proceeds sent to the Foundation, you won’t be eligible for the tax benefits described above.
Bill Mullins - Shabbona
Retired farmer and landowner from Shabbona. Former DeKalb County Community Foundation President. Gift of grain donation split between the Community Foundation and Farm Bureau Foundation for educating the public about agriculture.“It’s a lot easier to truck grain from the field and donate bushels instead of cash. And, it doesn’t show up on your farm income, which is especially good in a lean year.”
Beth White - Waterman
Waterman landowner and insurance agent/manager of Bend Insurance. DeKalb County Community Foundation Board of Directors. Gift of grain to the Community Foundation's Youth Engaged in Philanthropy (YEP) program for leadership conferences.“It’s another mechanism of giving, particularly as folks in agriculture, to be philanthropic in our community. I always try to give what I can. Giving is not just for the wealthy, it’s for anyone and it’s believing in causes.”