The Richland County Foundation Gift of Grain Fund received its first donation of grain. Brian Alt of Alt Farms in Shelby gave bushels of corn to the Foundation’s account at Sunrise Cooperative Inc. in Crestline recently. The foundation sold the corn on the same day as the delivery.

The Gift of Grain Fund Committee also awarded its first grant to the Richland County Junior Fair Board to provide a variety of learning opportunities to Junior Fair exhibitors from 4-H and FFA including clinics, project evaluation, Malabar Fun on the Farm Day and county fair.

Farmers looking to minimize their tax liability while contributing to their community can donate crops to the Foundation at a local elevator. Gift of Grain accounts are set up at Centerra Co-op in Mansfield, Sunrise Cooperative in Crestline, Central Ohio Co-op in Fredericktown/Mount Vernon and Poet Bioprocessing in Marion.

Farmers should consult with their tax adviser to determine whether a donation of commodities is appropriate to their tax situation. Contributing to the Gift of Grain Fund allows farmers to avoid the sale of the commodity as income, while the production costs may still be deductible. The Gift of Grain Fund can accept grain, cash, stocks, bonds, marketable assets or a transfer from an IRA account from farmers, companies and individuals.

For instructions on how to make a Gift of Grain, go to the “Ways to Give Smarter” tab on richlandcountyfoundation.org.

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