Keep Iowa Growing

As Iowans we are proud of our agricultural roots. For generations our commitment to the land and livestock has not only fed the world, it has built strong communities. Keep Iowa Growing provides an opportunity to consider how your agricultural assets can continue this legacy of community support today and for generations to come. 

 

"In our giving, we have received so much more. As we transition into retirement, we feel fortunate we could work with the Community Foundation and use an agricultural asset to do what is most important to us, giving back and helping others." 

- Linda & Joe Scallon

Ways to Give

Farming isn't a one size fits all industry. Your charitable giving strategy shouldn't be either. We accept a variety of agricultural assets and tools to meet your goals with assets you already hold. 

FARMLAND

Through the Community Foundation, farmland can be sold or retained to benefit the causes you care about. Avoid capital gains tax and realize a deduction on the fair market value of the land.

 

GRAIN

Making a gift of grain allows you to support the organizations and communities that mean the most to you, while enjoying the tax advantages of not claiming the sale of grain as income.

 

FARM EQUIPMENT

Donating depreciated farm equipment provides an opportunity to avoid recapturing the sale proceeds as ordinary income.

 

BUSINESS OWNERSHIP

You can meet your business succession and giving goals by gifting privately held stock. We can assist in selling the stock to the next generation of ownership or to a third party buyer.

 

LIFE ESTATE

Gift your residence or farmland now, but retain its use and the rental income for your lifetime. You create a future gift to charity, continue to benefit from the asset and receive a partial tax deduction now.

 

CHARITABLE REMAINDER TRUSTS

Contributing assets to a charitable remainder trust can create an income in retirement for you and your spouse, while benefiting causes you care about after your lifetime.

Benefits

 Keep Iowa Growing provides unique advantages when making a gift of farmland or other agricultural assets. A variety of charitable giving funds are available to best meet your needs. The Community Foundation provides you the flexibility in how and when you give.

  • Any charity or community of your choice can be granted to from the proceeds of your gift or the revenue it produces.
  • Gifts may be eligible for Endow Iowa Tax Credits, a 25% state tax credit.
  • Capital gains taxes can be reduced or avoided.
  • Receive a tax deduction for the charitable portion of the gift.

For gifts of farmland specifically:

  • Can be given during or after your lifetime.
  • Farmland can be sold or a tenant farmer can be suggested to continue farming the land.
  • Your county will continue to maintain its tax base as the land stays on the property tax roll.
  • May be able to retain the ability to live on the farm and consider the opportunity to receive rental income during your lifetime.

Considerations

Click here to download an informational brochure that can be shared with your family, friends or professional advisors. Contact our team to explore how Keep Iowa Growing can play a part in helping your family meet its charitable and financial goals.