The Diocese of Des Moines

gift of grain

Donors who are interesting in gifting grain to the Diocese of Des Moines should contact the development office for details.

 

Gifts of grain are a unique and often underutilized way to make a charitable gift. Using grain to make a gift to the Sharing God's Gifts Campaign can be a wonderful way to support your Chuch while achieving tax savings.


Benefits

Donors are always encouraged to visit with their tax advisor before gifting grain.  Farmers should consider gifting grain directly, rather than selling the grain and making a gift from the proceeds.  By making a direct transfer, farmers may benefit from a more significant tax savings. Contributing grain allows farmers to avoid the sale of the commodity as income, while the production costs may still be deductible. Reducing taxable income may provide advantages such as minimizing or eliminating self-employment tax and reducing adjusted gross income.

 

How to Gift Grain

1.  Notify the Diocese of Des Moines of your desire to make a gift of grain.

2.  Consult your tax or legal advisor.

3.  Complete the Gift of Grain Form

3.  Deliver the grain and request the grain be transfered to the Diocese of Des Moines

4.  Provide the Gift of Grain Form to the Elevator

5.  Request a storage receipt showing the Diocese as the owner

6.  The Diocese will notify the elevator when to sell the commodity and will acknowledge your generosity!


Points to Remember

1.  Be sure the gift is grain commodities, not a grain storage receipt

2.  As a donor, you cannot offer guidance to the Diocese as to when to sell the commodity.

3.  To make a gift of grain to a charitable organization, the taxpayer/donor must be a farm operator.

4.  There is no recognized income, but the charitable deduction is limited to basis, which is ordinarily zero. Typically, your cost of raising and growing the grain can be deducted as a farm business expense.

5.  Many grain farmers annually certify or document bushels of production with a Farm Service Agency for purposes of enrolling that grain production in various agriculture subsidy programs. You should be sure to accomplish the FSA certification before making a gift of grain commodities to any organization.