Your donation is a simple way to make a lasting difference. The value of the grain can be used to start an endowed fund in the name of your family, to support a specific nonprofit organization important to you or support the overall charitable causes in Hardin County.
By giving grain to the Hardin County Community Endowment Foundation, you avoid including the sale of the grain in your farm income. Although a charitable income tax deduction is generally not available to you, the avoidance of declaring it as income and the possibility of an Endow Iowa Tax Credit are significant benefits. You deduct the cost of growing the crops that typically results in saving self-employment tax, federal income tax and state income tax. You can benefit even if you don’t itemize your deductions and take the standard deduction. A 25 percent Endow Iowa Tax Credit may be available to you for gifts to a permanent endowment fund benefiting an Iowa charitable cause.
No matter what type of endowment you choose to establish or support, you can be sure that your gift of grain is growing the future of Hardin County.