Gift of Grain
Your crops are your livelihood, your life.
You prepare, you plant, you nurture and they grow. That’s what we do with the charitable gifts entrusted to the Community Foundation, and we invite you to grow the future with us.
Donating a gift of grain to the Community Foundation is a simple way to make a lasting difference. No matter what type of endowment you choose establish or support, you can be sure that your gift of grain is growing the future of your community forever.
Gifts of grain are simply excluded from income. You deduct the cost of growing the crops, which typically results in saving on self-employment tax, federal income tax and state income tax. Gifts of grain are not considered charitable deductions.
In addition, gifts of grain to qualified endowments at the Community Foundation also are eligible for Endow Iowa, a 25% state tax credit on the total value of the gift.
These steps help ensure that ownership of the gifted grain is transferred prior to sale and you receive recognition for your gift:
- Contact the Community Foundation to advise us that you would like to make a gift and indicate the fund to which you would like to direct your contribution. Or, advise us that you want to start a new endowed fund with the gift.
- When you deliver the gifted grain to the local elevator, ask the operator to transfer ownership to the Community Foundation of Greater Dubuque.
- We will provide you with an acknowledgement letter for your gift. (Remember, it is non-deductible on your taxes; however, you don’t have to declare this grain as income, either.)
- We will sell the grain immediately and receive the sale proceeds. Any sales invoice will name the Community Foundation as the seller of the grain.