The Iowa Barn Foundation has established the "Iowa Barn Endowment Fund" so that individuals can donate cash, real estate, and securities to the fund. Donations are placed in a permanent trust fund where the principal is kept intact and invested. Income received from investments is used to support the Iowa Barn Foundation's preservation efforts.
Appreciated real estate and securities can be an advantageous gift for a donor to make, as the donor receives an income tax deduction for the value of the appreciated property and does not have to pay income tax on the gain. Gifts and donations can be made to the Endowment Fund at any time. You can also make gifts and donations to the Endowment Fund by leaving bequests in a Last Will and Testament to the Endowment Fund. You can also donate economically and financially self-sustaining farms or farmland through the Iowa Barn Foundation's Farm Conservancy project.
The Iowa Barn Endowment Fund is also available to establish or help establish the use of Charitable Gift Annuities and Charitable Remainder Trusts. This is a commonly used estate planning method whereby donors can make irrevocable gifts to The Iowa Barn Endowment Fund. The donor receives an immediate income tax deduction and a regular monthly or annual income payment (called an annuity) for as long as the donor and spouse shall live. The donors receive a tax deduction and a regular monthly payment along with the knowledge they are helping the Iowa Barn Endowment Fund carry on its purposes.
Tom Lawler is vice president of Iowa Barn Foundation and past chair of State Bar Association's Agriculture Committee. If you have an interest in this fund or questions, please call Tom at 319 346 2650.
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