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Give the Gift of Grain

It is easy to support Doane University by donating a portion of your harvest through the College’s gift of grain program.  Gift of Grain is a unique way to make a gift to the College while achieving tax savings.  The value of the grain may be designated for the purpose you choose -- to support the Doane Scholarship Fund, create an endowed scholarship in your family’s name, or support a specific academic program or athletic group.  Any gift makes an immediate impact on the students of this campus. 

Benefits:

Farm operators using cash accounting may receive significant tax savings through gifting commodities to Doane University.  Contributing grain/crops/commodities may allow you to deduct the cost of production and avoid income taxation on the gift portion of the grain, which would reduce both adjust gross income and self-employment tax. 

Important Information:

  • To make a gift of grain to Doane University, the taxpayer/donor must be a farm operator. 
  • The gift must be from unsold crop inventory with no prior sale commitment and not in warehouse receipts. 
  • The donor cannot provide any guidance in the transfer agreement as to the sale of the grain.  Doane University must have control and dominion over the gift. 
  • The donor assumes cost of the transportation, storage and drying of the grain prior to the transfer being made to Doane University.  After the transfer, Doane University will assume all costs of storage, marketing and transportation. 
  • It is always advised that you consult with a tax advisor prior to making a gift to Doane University.

How to Make your Gift:

  1. Consult with your tax or legal advisor about gifts of this type.
  2. Contact the Advancement Office at 402-826-8258 and let Doane University know you will be gifting grain.  Or mail/email a gift of grain commitment form to the Advancement Office at advancement@doane.edu.    
  3. Deliver the grain to your local elevator or co-op.  The grain elevator will create an account in the name of:
    Doane University
    1014 Boswell Avenue
    Crete, NE 68333
  4. Ask the grain elevator for a warehouse or storage receipt showing Doane University as the owner, or a notarized letter of transfer for crops stored on the farm.  The original sales invoice should list Doane University as seller. 
  5. Send the storage receipt to Doane University. 
  6. Instruct the grain elevator to send the contract to sell the grain to Doane University.  The elevator should refrain from selling the grain or issuing a check without specific instructions from Doane University. 
  7. Doane University will contact the grain elevator and order the sale of the grain. 
  8. Doane University will acknowledge the gift following the sale. 

For more information, please contact Dan Meyer at dan.meyer@doane.edu or 402-826-8237.