In the News

Post Rock Community Foundations ask to consider a gift of grain

Thursday, June 27th, 2013

The Post Rock Community Foundation asks operating farmers to consider making a gift of grain to the Post Rock Community Foundation.

Cash gifts are exposed to myriad taxes before the money is available to the donor’s choice of non-profit organizations, while grain donations are not.

When bushels of grain are donated instead of cash, the value of the donated grain is not included on Schedule F.  The expenses related to the production of the donated grain stay on Schedule F in the year paid.  Federal, state, and self-employment taxes are not paid on the value of the donated grain.  Yield records are unaffected by a gift of grain, preserving the baseline for years to come.

With these benefits, there is also no charitable contribution deduction for donated grain because no income is recognized on the donation.

The simplest way to accomplish a gift of grain is to tell the grain buyer how much of the grain you would like to have put into an account for the Post Rock Community Foundation.  The grain buyer then notifies the charity, which can decide whether to sell immediately or hold onto the bushels until some later date.

A gift of grain to the Post Rock Community Foundation goes even further because of the Kansas Health Foundation’s GROW II $300,000 matching grant programs to benefit the public health needs of Lincoln County and the cities of Hunter, Lucas, and Luray which are all part of the Post Rock Community Foundation.  With this grant, PRCF receives a 50 percent match from GROW II for the gifts received to any of our current funds.  The matching dollars earned will support the public health of the Post Rock area and operating costs of the Foundation.

For more information about donating to the Post Rock Community Foundation phone 785-526-7188, email postrock@gscf.org, or call any board member listed on the Foundation’s website.

Gifts to the Foundation help the Lincoln County area sustain its rural way of life into the future.