Gift of Grain

Gift of Grain

The Story Medical Foundation is offering producers the option to support Story Medical by giving grain. This program is a simple way to make a lasting difference in the future of Story Medical, and in turn, the health of your community.

Steps on how to make a Gift of Grain donation:Give the Gift of Grain

    1. Inform the Story Medical Foundation at 515.382.7711 or nbohnet@storymedical.org.

    2. Print and complete this form. Indicate the total quantity of grain being contributed. The form should be sent to the foundation office one week prior to delivery at the elevator. When you deliver the gifted grain to the elevator, inform the elevator to issue a storage receipt in the name of Story Medical Foundation. The storage receipt is the evidence that ownership of the grain was transferred from the producer to Story Medical Foundation. Have the storage receipt sent to Story Medical.

    3. The contract to sell the grain must be sent to the Story Medical Foundation. Please mail the contract to the address below. Story Medical is the owner of the grain following your gift, the producer may not instruct the elevator to sell the grain.

    4. The elevator will need to issue the check for the sale of the grain to Story Medical Foundation.

Please return form to: 
Story Medical Foundation
640 South 19th Street, Nevada, Iowa 50201
Email:nbohnet@storymedical.org

Benefits of Donating
• The farmer avoids including the sale of the cash crop in income, saving on self-employment tax and federal income tax.
• The farmer can still deduct the cost of the growing the donated crop as long as the crop is given in a different year than it was grown.

For Maximum Tax Benefit, Donate Crops Grown in Previous Fiscal Year
• Farmers should donate fall-harvested crops early the following year.
• The crop should be titled and sold in the Story Medical Foundation’s name and should be sent to the Story Medical Foundation.