Plant Corn & Beans, Harvest Preachers!
Can you really plant corn and beans and harvest Christian leaders? Let me tell you about a family that does so every year.
The Johnsons* are a farming family – it’s what they’ve always done and they are good at it. In their crop rotation plan, some years they plant corn, some years they plant beans. But every year, a portion of their harvest goes to fund a scholarship at a Christian college where men and women are preparing to become the next generation of Christian leaders.
The Johnsons’ annual routine includes the delivery of a few truckloads of grain to their local elevator. The grain is “delivered in the name of the college” so that the Johnson family relinquishes any control over it. Once in the bin, the college is notified of the gift so it can authorize a sale. Within days, a settlement check arrives and the Johnsons’ scholarship has a new infusion of cash to benefit students.
When the Johnsons established their scholarship, they specified that it should primarily benefit students with financial need from a specific geographic region. They also requested that the recipients have a major in preaching, youth ministry, or missions. Each year, at least two students are helped by their strategic generosity and the Johnsons are pleased that they get letters from the students every semester.
Giving grain has become a wonderful way for the Johnsons to maximize their charitable giving in a tax-advantaged way. While the rules for giving grain are very specific, they are not difficult to follow and can provide excellent benefits.
Regardless of your career or business, giving non-cash assets may provide excellent opportunities for you to minimize taxes and maximize your charitable desires. Through our strategic partnership with Co:Mission Foundation, we can help you think through non-cash giving strategies and tools. Best of all, there is no cost or obligation to you!
If you would like to talk with David Duncan, Executive Director of Co:Mission, you may call him at 417-437-4774. Or, if you prefer, email him at firstname.lastname@example.org.
You can download a fact sheet on gifts of grain at comissionfoundation.org/grain.
*The Johnsons are representative of many families using non-cash assets to fund charitable gifts.