Please consider a gift of grain!
Only cash basis farmers are able to benefit. Donors should always consult with their professional tax and/or legal advisors to determine tax implications specific to their situation prior to making the gift.
How it works
- Contact Cunningham Children's Home of your intention to make a gift.
- Deliver the grain to the elevator and tell the elevator of your wish to transfer ownership of "X" number of bushels to Cunningham.
- You must give up dominion and control over the grain and cannot offer any guidance as to when to sell the grain.
- After the transfer, Cunningham assumes the full costs of storage, transportation, and marketing, and bears completely the risk of any loss.
- Request a warehouse storage receipt from the elevator in the name of Cunningham and send that receipt to us. Please instruct the elevator not to sell the grain until they are contacted by Cunningham.
- Cunningham should be notified that the grain is at the elevator. Upon this notification, Cunningham will contact the elevator to direct the sale of the grain and will send you an acknowledgment letter.
Gifts of grain can be made from the current or previous year's harvest.
By directly donating grain to Cunningham, the cash basis farmer can exclude the sale of the grain from income, which can result in a triple tax savings.
The tax savings can include:
- Federal income tax savings
- State income tax savings
- Self-employment tax savings
How will this help Cunningham?
The proceeds from your grain donation will help fill an important gap at Cunningham: the financial divide between funding from referring agencies and the actual cost of care for our youth. Even though our agency continued to receive reimbursements from the State of Illinois over the last few years, the level of compensation has remained stagnant for more than a decade. The gap is widest in our Residential Treatment and Group Home programs with a difference of $40 per day per child. Your donation will make it possible for us to continue to provide quality care even as costs have increased.
To start the grain donation process, please contact Tim Manard, Development Officer, at 217.337.9071 or by email.
This above information is provided as general information and is SHOULD NOT be construed as legal advice. Be sure to consult with your own professional advisor.