Do you want to consider donating in a smart way? By giving a pre-tax grain donation, by directing the grain bushel payments directly to one of the Saunders Catholic Schools, you don’t pay taxes on it and the schools get a larger donation. Giving an asset such as corn, wheat, soybeans, or cattle instead of cash, can have great tax benefits.
|1000 Bushels of Corn @ $4.00/Bu.||1000 Bushels of Corn @ $4.00/Bu.|
|Total Value: $4000||Total Value: $4000|
|Corn sold and cash taken: $4,000.00||Corn placed in a school or parish account.|
|TAXES:15% Fed.15.3% SE 6.8% State37.1% TotalTotal taxes = $1,484||TAXES: 0.0% Fed.0.0% SE 0.0% State0% TotalTotal taxes = $0.00|
|After selling the grain the potential cash gift to the School: $2,516||After gifting the grain the total value of this gift to the School: $4,000|
By giving an asset such as grain, you pay fewer taxes and help the students in our schools.
- When you haul the grain to your elevator, tell the manager that you would like to move a number of bushels to Bishop Neumann, St. Wenceslaus or St. John’s account.
- Most local elevators have an account for the schools, if they do not, please give us a call and we will set one up.
- The elevator immediately sells the grain and sends a check to the school you have designated.
- You have the documentation for proof of yield for both insurance and the government programs.
- With the extra tax money that you don’t have to pay, you can designate that money to be donated to the school or your parish.
Livestock can work in the same way, by designating the check for the sale to St. John’s or Neumann, you can make a donation, pre-tax and you will have the same benefits.
- Donate the entire amount in the same way as crops.
- Have the check sent to St. John’s, St. Wenceslaus or Neumann.
To make a donation to Crops for Kids, or for more information about the program, please contact the Development Office at 402-443-4151.
Also, for free, confidential advice and for more information about your giving options, please contact Les Mach, a representative of the Catholic Foundation of the Diocese of Lincoln, at 402-443-6180. Always consult your tax advisor for your specific operation.