Steps to Donating Grain To receive intended tax benefits and recognition for their gift, farmers need to take the following steps to ensure ownership of the gifted grain is transferred prior to the sale. 1.
Confer with your tax advisor. Because each farmer’s financial situation is different, be sure to consult your tax advisor to determine if a grain gift is right for you.
2. Alert the Floyd Valley Hospital Foundation. Contact Chuck Jespersen (Foundation Manager) at the Floyd Valley Hospital Foundation at 712-546-3348. Let him know you are making a grain gift along with the name of the elevator. The Foundation will then set up an account at that elevator. 3.
Deliver grain or notify the elevator your grain is already in storage. The donor requests transfer of the actual grain to Floyd Valley Hospital Foundation’s ownership and account.
The elevator gives the farmer a receipt. The donor is given a receipt of the number of bushels that was transferred to the Floyd Valley Hospital’s Foundation.
5. The Hospital Foundation sells the grain. The elevator sends the contract-to sell for signature to the Floyd Valley Hospital Foundation (now the owner) to sell the grain. 6.
The Hospital Foundation is sent a check. The grain elevator issues the check for the sale to the Floyd Valley Hospital Foundation along with the "bill of sale" indicating number of bushels and sale price.
H ospital Foundation
Thank you for considering a grain donation! Feel free to contact the Floyd Valley Hospital Foundation Chuck Jespersen Foundation Manager 712-546-3348 [email protected]
714 Lincoln St. NE Le Mars, IA 51031
Farmers who give grain will help Plymouth County patients for years to come.
For the first time in 40 years,
Floyd Valley Hospital is asking the community for help building a new clinic and surgery center along with many additional important renovations. With a project of this magnitude (nearly $27 million), the hospital will rely on the generosity of local donors to raise $2.6 million. Already individuals, families, businesses, and hospital staff are making gifts and pledges in the form of cash, stock, payroll deductions, and charitable trusts.
Leaving a Legacy One Bushel at a Time Farmers are also giving meaningful gifts of grain. By turning their bushels into charitable contributions, the land they have dedicated their entire lives to will help their hospital care for Plymouth County patients for generations to come.
Harvest for Your Hospital Beginning this fall, any bushels harvested (or in storage) are eligible to be donated to the Harvest for Your Hospital program. Gifting grain to the Floyd Valley Hospital Foundation is a creative way to provide farmers with tax benefits as well as impact the lives of local patients. • Farmers may avoid federal and state income taxes. • Farmers may also avoid paying the self employment taxes. • The hospital retains 100% value of the gift. • Farmers may deduct input costs.
Elevators accepting grain donations for Floyd Valley Hospital Foundation: Akron Farmers Cooperative Company (712) 568-2426
Oyens Farmers Cooperative Company 712-546-4585
Brunsville Premium Feed and Grain, Inc. 712-533-6514
Remsen Farmers Cooperative Company 712-786-1134
Craig Farmers Cooperative Company 712-562-6544
Remsen Gengler Feed Service Incorporated 712-786-2234
Hinton Floyd Valley Grain, LLC 712-947-4212
Sioux Center Siouxland Energy and Livestock Cooperative 712-722-4904
Ireton Farmers Cooperative Society 712-278-2166 Kingsley Farmers Cooperative Elevator Company 712-378-2888
Sioux Center Farmers Cooperative Society 712-722-2429
Le Mars Le Mars Agri-Center, Inc. 712-546-4127 Marcus Little Sioux Corn Processors 712-376-2800 Marcus Sands Seed Service 712-376-4135 Merrill Plymouth Energy Grain, LLC 712-938-2373
Leave a legacy, one bushel at a time…
Sioux Center Visser Elevator Inc. 712-722-0661 Sioux City ADM Grain 712-252-5610