If you are a cash-basis farmer, you may enjoy favorable tax benefits by gifting grain directly to Focus on the Family.
Benefits of a Grain Gift
You may be able to deduct the cost of production of the gifted portion of grain and receive triple tax savings
- Reduce federal income tax
- Reduce state income tax
- Reduce self-employment tax
Help further the work and mission of Focus on the Family
How to give a gift of grain:
- Contact your elevator and have them set up an account in the name of Focus on the Family (as Seller) using the following address:
Focus on the Family
Attn: Planned Giving
8605 Explorer Drive
Colorado Springs, CO 80920
- Deliver the grain to our account
- Notify Focus on the Family that grain has been delivered to our account
- Focus on the Family will promptly call the elevator and order the sale of the grain
- Focus on the Family will send you a letter acknowledging receipt of your gift
Important to Consider
Gift (transfer of ownership) occurs before the grain commodity is sold. The donor shall not sell the grain commodity or otherwise provide instructions of the sale of grain.
Focus on the Family is a tax-exempt charity under the Internal Revenue Code 501(c)(3).
TAX ID#: 95-3188150
IRS Tax Determination Letter
We strongly suggest that you contact your tax advisor for current tax laws and to determine whether this method of giving is advantageous to your circumstances.