Gifts of Grain
Using grain to make a gift to The Salvation Army - which may be designated for use in your community - can be a wonderful way to pass on God's blessings while achieving tax savings.
Benefits of gifting grain
For farm operators, gifting grain directly, rather than selling the grain and making a gift from the proceeds, may provide a more significant tax savings. Reducing taxable income may provide advantages such as minimizing or eliminating self-employment tax and reducing adjusted gross income.
- For many cash basis producers, significant tax savings can be achieved by donating crops directly to charity.
- The producer will not realize taxable income from a sale, thus minimizing taxes.
- The producer is still able to deduct the entire cost of production on Schedule F.
- Depending on the producer's specific circumstances, savings may be realized on federal and state income tax and self-employment tax.
Gifts of grain may be used to make outright gifts or gifts with reserved life income, such as gift annuities or charitable remainder unitrusts.
How it works
Once you decide to make a gift of grain to The Salvation Army, please fill out and return a grain donation form. An Army representative will be in contact with you to work out the details. In summary, your gift of grain will be delivered to the elevator of your choosing. The elevator will be notified before hand that your delivery is a gift to The Salvation Army. Once the grain is delivered as a gift, The Army will sell immediately.
FormsGrain Donation Form
Instructions and Tips for Grain Donations
Letter to the Elevator