GRAINhas sustained you and your family – it has sustained generations before you and will for generations to come. For over a century we have been partners with farmers – developing new crop varieties, solving problems from kernel to storage, and teaching the next generation to be leaders, thinkers and global citizens. Your gift will ensure we can continue our great work in support of the farmers of Washington. Areas of greatest need are the “Excellence” accounts for the Cook, Lind or Spillman Farms, but you can direct your gift to any area at WSU such as 4-H, agricultural scholarships, “Bushels for Butch,” or the WSU department of your choice.
All Gifts of Grain to WSU are welcome. Here’s how it works:
- If you are NOT an active, self-employed farmer, your gift will be receipted and you may take a charitable deduction.
- If you ARE an active, self-employed farmer using cash basis accounting, you may realize a greater benefit than provided by a charitable tax deduction by:
- Gifting grain from unsold inventory produced in the preceding year. This way you can deduct all production costs while avoiding federal income tax and self-employment tax on the fair market value of your gift.
- To maximize the tax benefits, have the local grain elevator make the receipt out to the WSU Foundation and let the Foundation know what area at WSU you would like to benefit.
The WSU Foundation must be the seller of the gifted crop.
