The Granary Foundation was created by the Center for Rural Affairs to serve the financial needs of the Center. It is a "support corporation," with the sole purpose of benefiting the Center for Rural Affairs. Its board of directors has fiduciary responsibility for the Granary Endowment Fund.
The Foundation's board of directors, all volunteers, are chosen by the Center's board of directors. Thus the Center has full authority over the Granary Foundation.
The Center for Rural Affairs is lean, responsive, and outspoken. It has built a reputation for integrity and prudent management. We are committed to continuing this record, securing for the long term the Center's vital programs and services for Rural America. That is why support from the Granary Foundation is vitally important.
The Granary Foundation currently stewards assets of nearly $6 million in assets with over $2 million more pledged in planned gifts. Only the interest earned from the Granary Endowment Fund is used to support Center programs. The principal remains intact and continues to grow, virtually forever.
These initial efforts have resulted in a steady stream of endowment interest income to support innovation, quickly respond to emerging issues, and to act with conscience. In other words, endowment money is helping to accomplish the Center's mission. But more is needed if we are to continue moving forward with our aggressive agenda of strengthening Rural America's family farms and ranches, small businesses, and communities.
For more information on the Granary Foundation download our Granary Foundation Case Statement (pdf). Listed below are some ways you can be a part of the Granary Foundation.
Make a Cash Gift
The simplest way to make a gift is by writing a check. If you itemize tax deductions, you may deduct a gift of cash up to 50% of your income. If your gift exceeds this amount, you may carry forward the excess deduction for up to five additional years.
Give Agricultural Crops
When legal ownership of a crop is transferred to a charity before it is sold, the farmer doesn’t have taxable income from a sale, thus reducing both self-employment and income taxes. Specific steps must be followed to document that ownership of the crop was transferred to the charity prior to its sale and that the charity made and controlled the sale. Contact Hank Rohling, firstname.lastname@example.org or 402.687.2103, ext. 2009, for more information.
Give Real Estate
Gifts of real estate may be more suitable for donors who are concerned about preserving liquid assets. Such a gift provides a charitable deduction for the value of the gift, up to 30% of your income, with the usual 5-year carryover. Real estate may also be used to establish a life estate contract to provide an income for life, which in many cases is much higher than income received from rental property or a farm.
Make a Bequest
A bequest to the Granary Foundation may be included in the body of your will or in an addition to it with a codicil.
Establish a Trust
Income-producing trusts are a valuable option for donors who wish to benefit from their gift. Assets are put in a trust which pays a minimum of 5% annually to you or other non-charitable beneficiaries. When those payments are no longer made, through a fixed term or at one's death, the trust's remainder goes to the Granary Endowment.
Giving stocks and bonds that you have owned for more than one year which have increased in value can provide strong benefits. You may deduct the full market value of the securities and avoid paying capital gains tax on the appreciation. Your deduction is up to 30% of your income, with the 5-year carryover.
Name the Center on Your Life Insurance
Making a gift of a life insurance policy, existing or new, can be an economical way to give. Naming the Center for Rural Affairs as both owner and beneficiary of a paid-up policy entitles you to a deduction equal to the policy's cost basis. Making a gift of a policy that is not paid-up provides you with a tax deduction approximately equal to the policy's cash surrender value. Making a gift with a new policy, with the Center as owner and beneficiary, allows you to deduct premium payments - donations to the Center that allow the Center to pay the premiums.
Memorial dedications and named funds within the Granary are available for those who wish to express support in the name of a loved one.
For more information, contact Hank Rohling, Director, Donor Relations and Major Gifts, 402.687.2103, ext 1009 or email@example.com.