Building the Future of Burgess with Agriculture
The Burgess Foundation is excited to announce our very first Gift of Grain donation. This gift is an investment towards Burgess’ future in providing excellent healthcare and exceptional patient experiences.
Burgess Health Center is a proud supporter of our community and our agricultural producers who we rely on to help keep our small towns thriving. We want to make our agricultural leaders aware of the benefits not just on donating to the Burgess Foundation, but simple ways they can make a lasting difference.
“Crops are the livelihood of our local farmers. With this first Gift of Grain I hope it inspires other agricultural producers to grow the future of Burgess,” said Bobbi Johnson, Burgess Foundation Director.
Replacing cash with a grain donation can help save on your taxes while investing in the Burgess Foundation at the same time. This can be done by providing a part of what you have grown into a Foundation that gives back to your own community. By doing so, you’re investing in the medical technology, equipment, and resources that help keep Burgess Health Center providing the best care possible to our patients.
Foundation Board Member Tammy Bramley and her husband Lyle Bramley of Bramley Farms in Ute, IA, gave the first Gift of Grain to the Burgess Foundation.
“Gifts of Grain are a unique way to make a charitable gift. Using grain can be a wonderful way to invest in our community while achieving tax savings,” said Tammy.
The Benefits
If the farmer chooses to donate grain, the farmer can then exclude the grain sale from income. Which can result in saving on your taxes. Here are some examples on how much you can save.
- State income tax savings (up to 8.98% in Iowa)
- Self-employment tax savings (15.3%)
- Federal Tax income savings (up to 37%)
How can you donate?
The best way to start is contacting Bobbi Johnson, Burgess Foundation Director, at (712) 423-9374. Describe what you would like to donate and the amount you would like to contribute.
Keep a copy for your records. (This should be unsold crop with no prior sale commitment.)
Transfer the grain as a gift to the Burgess Foundation. Your elevator can send a warehouse storage receipt to the Foundation. The grain should be put in the name of the Burgess Foundation.
The Burgess Foundation will then sell the grain and receive the proceeds.
Please consider consulting with a tax professional before donating to make sure this is the right choice for you. Remember, no gift is too small.
Photo: Foundation Board Member – Tammy Bramley, Lyle Kelm (grandson of Tammy & Lyle Bramley), Lyle Bramley, Burgess Foundation Director – Bobbi Johnson