Make Your Land Part of Your Legacy
With the Farmland Giving Program, land can be retained by the Foundation, remain in production, and provide benefit to the community — for good, for ever.
Planning For the Future
Farmland is one of our greatest natural assets. With the our Farmland Giving Program, the land can be retained by the Foundation, remain in production, and provide benefit to our communities for good, for ever.
The Community Foundation has the flexibility to either immediately sell, or hold and manage your gift of farmland. Both options allow you to support one or more charities for years to come — all while you receive maximum charitable benefits.
Every farm and family is different. We can help you navigate your choices and determine the best possible option to fit your charitable wishes.
Farmland Giving Options
Proceeds from either the sale or the rental income support the community and charities of your choice.
Gifts of grain are a unique way to make a charitable gift. Simply deliver the grain to your local elevator or co-op, tell them you would like to transfer ownership to the Community Foundation, and provide the Crop Commodity Transfer Form. The Foundation will work directly with the elevator to arrange an immediate sale and the value of the grain will benefit the charities and community of your choice.
By gifting grain to the Community Foundation, you avoid the reportable sale of the grain in your farm income. Although a charitable tax deduction is generally not available to you, the significant benefit is the avoidance of declaring it as income. You still deduct the cost of growing the crop, which typically results in tax saving benefits.
Reduce your estate taxes by bequeathing farmland to a fund you have set up at the Community Foundation. We'll work with you to determine if you would like us to sell and utilize the proceeds to fulfill your charitable wishes, or keep the land in management and use the rental income to carry out your philanthropic vision.
You retain full use of the land and production income for your life. You receive an immediate tax deduction on the charitable portion of the gift.
After your life, either proceeds from the sale or the annual rental income from the land fulfill your charitable wishes through the fund you created at the Community Foundation. The Foundation also offers you the option of recommending a tenant farmer to maintain the relationships which matter most to you.
Let's Get Started
Schedule an appointment with Mary Kolsrud, vice president for philanthropy at the Sioux Falls Area Community Foundation, to learn more about the Farmland Giving Program today.