Labor Day has quickly come and gone, ushering us into shorter days, changing leaves, cooler temperatures, and harvest season.  The transition to this new season brings new joys and opportunities, particularly for our local farm families.

For those farm families seeking opportunities to benefit our community AND maximize tax benefits, consider gifting grain to the Rush County Community Foundation.  Gifting grain is a wonderful way to maximize tax benefits for charitable contributions while leaving a lasting impact on Rush County.

If you are interested in giving grain, you must transfer the grain to the foundation before the sale in order to be IRS compliant, a process in which all grain elevators within Rush County are familiar.  Transferring grain is simple:  a dollar amount or number of bushels can be designated at the grain elevator by filling out an easy form, the Rush County Community Foundation receives notification, and you receive a letter confirming your charitable contribution to a qualified tax-exempt 501(c)(3).

Donating grain provides maximum tax benefits.  With the transfer of your grain, you have the potential to receive a premium of more than 35%.  When transferring the sale of the grain to your community’s foundation, you remove the sale proceeds from farm income and therefore eliminate federal, state, county, social security, and Medicare taxes while potentially claiming a tax deduction for the charitable gift.

Gifts of grain are important to support the Foundation’s operations.  All monies received from grain contributions directly support the Rush County Community Foundation, enabling continued growth, ongoing development, and essential services to be provided to forever benefit the people, organizations, and causes exclusive to our community.

For additional details on our Harvesting for the Future of Rush County program and to learn more about how community grants impact you and your community, call us at (765) 938-1177, visit our office at 117 N Main St., Rushville, or stop by our website at www.rushcountyfoundation.org