The United States, with only 4% of the world’s total population, produces 40% of the world’s corn. Iowa lies at the heart of the U.S. Corn Belt, and has been the leading state in corn production for nearly two decades (Source: Iowa Corn.) Iowa farmers produce over 55 million tons of grain, including corn and 13 million tons of soybeans. Iowa produces more corn than what is produced in Canada and twice the amount of soybeans produced in China! Iowa has an ideal growing season and climate, which combined with fertile soil, helps Iowa boast the title of the Tall Corn State. Source: EPI from USDA
Grain has many uses, ranging from multiple human food products, ethanol production to livestock feed. Iowa and other neighboring states have given grain internationally in times of disasters and drought, and now the American Red Cross is accepting grain donations to financially support its efforts in Iowa.
- You may reduce taxable income (self-employment state tax and federal income tax)
- You may still deduct the cost of growing the crops (grown in previous year)
- You may lower the Adjusted Gross Income (AGI) which may lower your income taxes on your social security benefits
- There may be additional tax benefits which your tax advisor can discuss with you.
To maximize your benefits, please let us know in writing prior to the donation and have the grain elevator’s agent provide a Charitable Transfer of Commodities form prior to the sale of the grain. The American Red Cross will receipt you for your donation and you may use that receipt when you file a Schedule F for your deduction. Our acknowledgement letter will include a description of the donation including type of grain, number of bushels and date donated.
Please contact our office for more information and consult your tax advisor on the benefits of donating grain to the American Red Cross.
Donate cash via a check directly to the American Red Cross serving Greater Iowa:
American Red Cross – Gift of Grain (GoG)
2116 Grand Avenue
Des Moines, IA 50312
- Donate grain to the American Red Cross via any grain elevator/Co-Op:
- Ask your local Co-Op to identify the American Red Cross account for your donation
- If one does not exist, call (515) 473-1284 to establish an account
- Request the Co-Op to receipt you for the donation (we also provide a receipt) for validation
- Notify the American Red Cross of the donation via email or phone
- Fill out and mail in the Charitable Transfer of Commodities and other forms (may be required for full tax deduction benefits)
Whether your motivation to donate is for tax incentives or a pure philanthropic gift, please know that your support will be used wisely for our services. Farmers can donate a single bushel, a bushel per acre of production, or any amount of grain surplus.
For more information on the Gift of Grain program, contact Bryce Sitter at the American Red Cross, Central Iowa Chapter - (515) 246-6307 or Bryce.Sitter@redcross.org
“Iowa will lead the world in agriculture, doubling production of our crops and value-added products while increasing personal income, creating value and creating jobs. This plan will address systems to better handle, store, transport and transfer the increased production of agricultural crops, renewables, energy and added products,”
- Iowa Governor Terry Branstad, September 2010.