Donate a portion of your harvest through the Bushels for Bobcats program.
Why donate your harvest?
By contributing commodities to the Montana State University Foundation, a Montana not-for-profit corporation, you are providing Montana State University with a donation that retains the full value of your crop.
Example: You donate $3,000 worth of your crop to the MSU Foundation, which then sells it for $3,000. Then the university receives the entire $3,000. However, if you sell the crop first and donate that revenue after taxes, you donate approximately $1,940 to the university. Amount may vary depending on the current market.
- Complete the Make a Gift of Grain form.
- A Montana State University development officer will work with you to make sure your gift goes to your preferred use. To establish an endowment of $25,000 or more, contact Kevin Brown at email@example.com.
- If you have any questions about making a gift of grain, please contact Samantha Beebout at firstname.lastname@example.org or 406-994-7099.
*It is Foundation policy to sell any grain or commodity donation as soon as we know you have made the gift.
It is best to donate grain grown in a previous tax year. Make the donation early enough in the year so that there is no question that it came from the prior year’s crop.
- Unsold commodity
The gift should be from unsold inventory with no sale commitment made prior to the gift.
- Physical delivery
The gift must be in the form of farm commodities, not warehouse receipts, which may be considered a cash equivalent. The charity (MSU Foundation) must be able to demonstrate “control and dominion” over the gifted property.
- Retention of control
The grower shall provide no guidance in the transfer agreement as to the retention or sale of the gifted commodity.
Provide either a properly executed warehouse receipt in the name of the “Montana State University Foundation; or a notarized letter of transfer for crops stored on the farm. The original sales invoice should list the charity (MSU Foundation) as the seller.
- Storage and transportation costs
After the transfer, the Montana State University Foundation will assume costs of storage, marketing, or transportation.*
- Crop share leases
Gifting will not work for a crop share landlord. A share of a crop received as a rental payment is considered the equivalent of rental income.
- Donor gift value
The MSU Foundation will provide you with a donor receipt for the net settlement amount for your records. You do not need to declare a deduction or sale to the IRS.