Gift of Commodities

Steve Reimer looked at the good crop of almonds that the Lord had blessed him with and started thinking about how he could use it in a tax wise way to support the ministries that were near and dear to his heart. He was familiar with the idea of a planned gift through the giving of commodities and decided to contact MB Foundation to help him with that. The primary benefit of this type of gift is a reduction in reportable taxable income and the ability to claim a business deduction for the production costs related to the donated commodity. Steve was able to establish a Donation Account with MB Foundation with a gift of almonds. MB Foundation sold the almonds and the proceeds became available for distribution to the ministry(ies) of Steve's choosing. The use of a Donation Account allowed him to make a sizable gift, avoid taxes and defer until a later date the disbursement of the funds.