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Gifts of Grain

A gift of grain (corn, soybeans or other agricultural commodities) is an excellent way to make a gift to The Catholic Foundation in the Archdiocese of Dubuque.

Donor

Gift of Grain

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Our Organization

Benefits of gifts of grain:

• You save on tax. By contributing grain, the farmer avoids having to include the sale of the crops in his/her income, which results in saving self-employment tax, federal income tax and state income tax. You will not receive a charitable income tax deduction; however, the value of the gifted grain will not be included as income on your Schedule F.
• You can still deduct on your Schedule F the cost of planting, growing and harvesting the crops, including income and self-employment taxes.
• After the transfer, the nonprofit assumes all risk loss, as well as costs of storage, transportation and sale of the goods.

How gifts of grain work

1. The gift should be from unsold crop inventory from current or previous year's harvest with no prior sale commitment. A farmer should gift his/her grain directly to the nonprofit.
2. Be sure that the gift is farm commodities, not warehouse receipts, which could be considered a cash equivalent. The charity must be able to demonstrate "control and dominion" over the gifted grain.
3. To make a gift of grain, the donor needs to be a farm operator/owner. Crop share landlords are not eligible, as shares of crop are considered rental income that must be included in reportable income by the landlord.
4. The nonprofit will open an account with the elevator in anticipation of your grain donation. Please contact us in advance so the account can be established prior to delivery and so that we can provide you a transfer form to give to the elevator and other helpful steps to ensure a successful gift of grain.

More on gifts of grain

You can use your gift of grain to fund a variety of different planned gifts.

Contact us

If you have any questions about gifts of grain, please contact us. We would be happy to assist you and answer any questions that you have.