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Sharing and caring: <strong>Farmer</strong>s ma<br />
The Harringtons<br />
The Deutmeyers<br />
Contribution:<br />
Life insurance Policy<br />
After many successful years farming, DeWitt<br />
couple Charlie and Joann Harrington decided they<br />
wanted to pay it forward and help strengthen their<br />
community. they gifted a life insurance policy to<br />
the LincolnWay Community Foundation, which<br />
established three endowment funds totaling $140,000 each to<br />
annually support the DeWitt Hospital Foundation, the DeWitt<br />
united Methodist Church, and the Central Education Foundation<br />
with preference given to agricultural programs.<br />
Life insurance is a simple way for people to give a significant<br />
gift to charity, with tax benefits during their lifetime<br />
Donors who receive taxable income from life insurance policies<br />
can take advantage of several tax-advantaged ways to make those<br />
assets work for them and the causes they support. For example,<br />
donors who give to endowments through the Community<br />
Foundation benefit from the Endow <strong>Iowa</strong> 25 percent State Tax<br />
Credit in addition to federal charitable income tax deductions.<br />
Contribution:<br />
Gift of Grain<br />
Since troy and Shelly Deutmeyer began farming 11<br />
years ago, they’ve been fortunate to have had good<br />
harvests. When they had the opportunity to contribute<br />
to the beckman Catholic Schools blazing Forward<br />
Endow iowa Fund, they chose to do so with a gift<br />
of grain.<br />
“if everyone does a little bit, it adds up,” troy said of their<br />
decision. He and Shelly said that rather than sitting down<br />
and writing a check, donating about two bushels per acre of<br />
their farm average is an easy way to support education. their<br />
son, Shawn, is a senior at beckman Catholic High School,<br />
so they’ve seen firsthand the value of the schools and were<br />
eager to support the campaign through the Dyersville Area<br />
Community Foundation.<br />
Gifts of Grain help donors save on taxes as they deduct the<br />
cost of growing the crops. the gifts are excluded from income<br />
and are eligible for state tax credit.<br />
An Affiliate of the<br />
Community Foundation of Greater Dubuque<br />
The Community Foundation of Greater<br />
and inspires giving along with affiliate
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