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Healthy Harvest, Healthy Communities

Why make a gift of grain?

With the prospect of good yields and high grain prices, many producers may be looking for a way to minimize their tax liability while making a significant charitable gift to LSI.

A gift of grain to LSI’s Healthy Harvest. Healthy Communities. campaign is a gift for all Iowans. This gift will allow LSI to bring healing, health and wholeness to children, families and individuals striving to make positive life changes – changes that make our communities stronger, healthier places.

How a gift of grain means tax savings

  • For many cash basis producers, significant tax savings can be achieved by donating corps grown in a previous year directly to LSI.
  • 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.

How it works

Once you decide to make a gift of grain to LSI, please fill out and return a grain donation form. An LSI 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 LSI. Once the grain is delivered as a gift to LSI, LSI will sell immediately.

Download grain donation form

*This information is not intended as legal or tax advice. For legal or tax advice, please consult an attorney.

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