Ohio Farm Bureau Foundation can accept 'grain gifts' from farmers who want to support the future of agriculture.
Agronomist and sales specialist Vince Willman with Sunrise Cooperative had been asked to help fulfill a special request in 2020.
A farmer in Seneca County wanted to make a donation to benefit several areas of need within the community, including a gift to the Ohio Farm Bureau Foundation benefiting the Yvonne Lesicko Memorial Fund. However, he wanted to do it in a unique way.
The farmer, who wishes to remain anonymous, wanted to donate a “gift a grain” from his soybean crops.
He turned to Willman and the co-op to help in the endeavor. It was Willman’s job to make sure the donation, dubbed the “charity beans,” was able to be as successful as possible in order to get the most money out of them for the gifts.
While the project the farmer and Sunrise did together was a little unique, the idea of a “gift of grain” is not. It is another way to give back and support Ohio agriculture through the Ohio Farm Bureau Foundation, said Kelly Burns, executive director of the foundation.
“It is a simple way to make a lasting difference,” she said. “The value of the grain can be used to support the future of Ohio agriculture.”
Burns noted that by giving grain, farmers avoid including the sale of the grain in their farm income. “Although a charitable income tax deduction is generally not available to those who donate, the avoidance of declaring it as income may be a significant benefit,” she said.
The tax benefit was an attractive aspect to the donation, the donor said.
“It’s a really simple and efficient way to make a gift,” he said. “It is a before-tax contribution. You get the most out of your donated dollars.”
A farmer who wishes to donate a gift of grain will need to decide how he or she would like the donation to be used, Burns said.
“It is important that you contact the Ohio Farm Bureau Foundation to discuss your gift intentions and to follow the proper steps to make this type of gift,” she said.
The farmer who donated the gift of grain to the Yvonne Lesicko Memorial Fund said giving back is the goal.
“My mother taught me that the two most important things about money are how we get it and what we do with it when we have it.”
Once your obligations are taken care of, he said, you give some to those who need it.
Disclaimer – A donor should always consult with their tax preparer to determine the tax implication prior to making a gift.
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