A gift of grain to the Greene County Medical Center Foundation is the best way to support the health and wellness of your community while also realizing considerable tax benefits for your farming operation.
Fast Facts About Gifting Grain
- Donation must come from a farm operator
- There is no recognized income for the cash value of the grain donation
- Charitable deductions are limited to basis (which is generally 0)
- For most donations, input costs can be deducted as part of annual expense
- Gifts of grain can be from the current or previous year's crops
We encourage producers to discuss this option with their tax professional.
Donating
-The commodity must be unsold and not previously committed for sale
- Donor must deliver grain to the elevator of choice and notify them of their intent to make a gift
- Delivery must be made in the Foundation's name
- Producer will ensure the Foundation is provided with a warehouse receipt
- The Foundation will then control the sale of the commodity
The legacy you leave will live on as the names of those donating $1,000 or more are added to the Greene County Medical Center Foundation recognition wall.
If you have questions or need more information, please contact Greene County Medical Center Foundation Director, Nancy Houska at 515-386-0108 or by email at nancy.houska@gcmchealth.com.