For farm operators, gifting grain directly, rather than selling the grain and making a gift from the proceeds, may provide significant tax savings. Contributing grain may allow you to avoid the sale of the commodity as income, while the production costs may still be deductible.
Contact Anne Sents at 515-292-7012 or mail or email a Gift of Grain Notification to BILD International % Anne Sents, 2400 Oakwood Rd, Ames, IA 50010 or anne.sents@bild.org
Deliver the grain to your local elevator or co-op and notify them that your wish to transfer ownership to BILD International.
Request a grain storage receipt showing BILD as the owner. Instruct the elevator not to sell the grain or issue a check to BILD without specific instructions from us.
Notify Anne Sents at 515-292-7012 when the transfer is made, indicating where the grain was delivered.
BILD will the order the sale of the grain and acknowledge your gift following the sale.
To make a gift of grain to a charitable organization, the donor must be a farm operator.
Be sure the gift is grain commodities.
BILD must be in control of the sale of the grain. As the donor, you cannot offer guidance about the sale.
Please consult your tax professional for advice applicable to your particular tax situation prior to making a gift of grain. BILD and its employees do not provide tax or legal advice.