After a successful first day of game, the Hiawatha Community Foundation is planning the Give Back to Move Forward 2022 game day.
Virginia Freese, chair of the HCF board of directors, said the group is currently looking for matching dollars to use at the 2022 event. Anyone can provide matching dollars. She said, for example, that agricultural producers could benefit from the Gift of Grain program while helping to maintain existing organizations in the Hiawatha community which have open funds within the Hiawatha Community Foundation while benefiting from significant savings. tax.
“A grain donation to the Hiawatha Community Foundation this fall is easy and can be beneficial by creating matching dollars that will help all of the Hiawatha Community Foundation funds,” she said, noting that local silos are at. current about this program and also have brochures. .
Here’s how the grain donation works: The farmer donates the grain, the Hiawatha Community Foundation obtains the donation by selling the grain to then be used as matching dollars next May for game day. By donating grain directly, the farmer can exclude the sale of grain from farm income, but expense the costs of production. Each producer should contact their tax advisor to determine the tax implications specific to their situation.
Freese said that another great way to help someone in retirement age who needs to withdraw a minimum required distribution from their retirement account is to send the money to the Hiawatha Community Foundation. This can either be used for matching dollars or directed to a fund of their choice.
A donation can be placed in the Hiawatha Community Foundation operating fund for matching dollars or the donor can open a donor advised fund with the Foundation. A donor advised fund allows for an immediate tax deduction and helps make the decision to donate at a more convenient time.
Please contact the FHC at 785-740-4423 or by email at [email protected] with any questions. A complete list of Hiawatha Community Foundation funds is available on our website at www.hiawathacf.org.