Farmers prepare, plant, nurture, and grow, and that’s what the Porter County Community Foundation does with the charitable gifts entrusted to PCCF. The farmers of Porter County in collaboration with PCCF have a unique charitable giving option with a Gift of Grain. This is an easy, tax-efficient way to support the community.
Upon delivering grain to the elevator, farmers designate a portion of the load to PCCF.
PCCF sells the grain and deposits the proceeds into the Agriculture Community Initiative Fund.
PCCF provides an acknowledgment as evidence of the number of bushels transferred.
Grants are made from this fund to support agriculture educational programs in our community.
Twenty-five students attended the Farm Progress Show to explore important agriculture-related careers thanks to the support of the Gift of Grain.
Gift of Grain supported the East Porter County Future Farmers of America on their trip to the National FFA Convention & Expo where the students learned about leadership and how they can change the way the world grows.
A cash-basis farmer can deduct full production costs on the donated bushels without realizing the taxable income from the sale. This results in savings on federal, state, county, and self-employment taxes, which would typically amount to more than a standard charitable deduction for a cash gift.
No. Shares of crops are considered rental income and must not be reported as such.
No. This would be considered a cash donation and would not qualify for the same tax benefits as donating and giving up control of the actual product before the sale.
No. PCCF assumes all risk immediately upon the donation of the product.
Yes. You must execute a notarized “Grain Transfer Authorization” form to PCCF in place of the elevator’s warehouse receipt.
C-corporations are treated differently from a tax perspective. Consult your tax professional for guidance in your specific situation.
No. A Gift of Grain does not count as income in your government payments limitation caps calculation.
