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Gifts of Grain

Steps to Make a Charitable Gift of Grain:

Following these specific steps will help ensure that you receive the intended tax benefits from a gift of grain. Failure to follow these steps may result in the IRS treating the transaction as a sale by the farmer resulting in a contribution of cash, rather than as a contribution of grain. As a donor, you should follow these steps to ensure that ownership of the gifted grain is transferred prior to sale and you receive recognition for your gift:

  1. Contact one of the following to advise us that a gift is about to be made.
    Grant County Community Foundation 620-356-4223  grantccf@gmail.com

    Lori Deyoe 620-424-2839   620-353-4584  lorideyoe@gmail.com
  2. Complete the Letter from the Producer Regarding a Gift of Grain (pdf) form notifying us that you are making a gift of grain. Indicate the quantity and type of grain being contributed and the fund  to which your contribution is directed. Send the letter to the Grant County Community Foundation, P.O. Box 65, Ulysses, KS  67880.
  3. When you deliver the gifted grain to the local elevator or if the grain is already in storage, tell the grain elevator to transfer the grain in the name of the Grant County Community Foundation.
  4. Instruct the grain elevator to contact the Grant County Community Foundation to notify of the transfer of ownership. Because GCCF owns the grain following your gift, you may not instruct the elevator to sell it.

Note: The above information is of a general nature and is not intended as legal advice. It should not replace the counsel of your tax, legal or estate planning advisors.

 

  © 2012

 

     GRANT COUNY COMMUNITY FOUNDATION  P.O. Box 65, Ulysses, Ks. 67880  620-356-4223  grantccf@gmail.com