Christian Radio News

Grain Offering

For decades, Praise FM has initiated encounters with God by broadcasting praise, worship and Biblical teaching 24/7. We invite listeners to connect with God inside the ordinary moments of their lives. Our mission is to see God transform hearts, families, towns, cities, and nations. Politics and education cannot unilaterally bring restoration. We need revival and that can happen only when we learn to worship.

Praise FM reaches hundreds of thousands of listeners through our radio broadcasts and online streaming. We now have opportunities to expand significantly through joint projects with One Hope, Youth with a Mission, and other international ministries. As we take these steps of faith we’re inviting others to join us to bring these visions to “harvest.”

Praise FM is fertile soil. By sowing your valuable seed into the future of this ministry you are providing platforms for many to experience the reality of
Jesus Christ. 

 

Why Donate Grain Directly?

Most cash-basis farmers can reap significantly better tax savings by donating crops directly to Praise FM. Such a contribution is not reported as a charitable deduction on your income taxes. The value of the donated grain is simply avoided income, while the production costs of the commodity are still deducted. Avoiding taxable income provides several advantages to you, the donor:

  • The avoided income does not incur self-employment tax.

  • For those using the standard deduction (instead of itemized deductions) a cash contribution may not net you any tax savings.

  • The avoided income reduces the effects of the phase-out of deductions/exemptions/credits based on your income level.

  • The avoided income may reduce the amount of taxable social security benefits.

  • The avoided income does not count against the 50% of Adjusted Gross Income limit for itemized charitable deductions. 


How To Make Crop Gifts To Praise FM

1. “Unsold commodity”: Gifts should be from inventory with no prior sales commitment.

2. Physical Delivery: The gift should be “farm commodity” and not a warehouse receipt, which could be considered a cash equivalent. Praise FM must be able to demonstrate “control and dominion” of the crop.

3. Documentation: The transaction should be documented by a warehouse receipt/storage ticket (if the grain is stored in an elevator) or a notarized letter of transfer (if the grain is stored on the donor’s property). Praise FM needs to become the owner of the grain before it is sold and the sales document must list Praise FM as the seller.

4. Storage Transfer & Control: After the exchange, Praise FM will assume costs for storage, marketing and transportation of the crop. Donors should offer no guidance to Praise FM regarding retaining or selling the grain.

5. Crop Share Landlords are Generally Not Eligible

Note: Wise Counsel: Tax codes are complex and change frequently. The information in this brochure should not be considered tax advice. A farmer should consult a professional advisor to determine financial implications prior to making a crop gift. 

 

Contact Mark Herringshaw to receive a Crop Donation Form: Mark@PraiseFM.org

Listen to Praise FM online
Praise FM Programs
Praise FM Interviews
Praise FM Events

Twin Cities Studio

910 Elliot Avenue
Minneapolis, MN 55404 

Contact@PraiseFM.org

(612) 343-3500

 

Osakis Studio

402 Pike Street E
Osakis, MN 56360 

Mail@PraiseFM.org

(800) 658-2229

 

© 2014 Praise FM l Website by Sheepish Design | Website Support l Privacy Policy