Q: What is the Nebraska Farm Bureau Foundation for Agriculture?
A: The Nebraska Farm Bureau Foundation for Agriculture was established in 2013 to further initiatives that improve the quality of life for all Nebraskans. The Foundation strives for measurable community improvement through its support of special projects that focus on agriculture literacy for students, public education and understanding of agriculture, agriculture research and leadership programs important to the long term viability of Nebraska agriculture.
Q: Are there special tax advantages?
A: The Nebraska Farm Bureau Foundation for Agriculture is a non-governmental public charity. The Nebraska Farm Bureau Foundation for Agriculture has been determined as exempt from Federal Income Tax under Section 501(c)(3) of the Internal Revenue Code. Contributions or donations may be tax deductible.
Q: What can the Nebraska Farm Bureau Foundation for Agriculture do that Nebraska Farm Bureau Federation cannot?
A: Classified by the IRS as a 501(c)(5), the Nebraska Farm Bureau Federation is an agriculture organization that engages in lobbying; therefore donor contributions do not qualify as the same tax deductions as a 501(c)(3). The Nebraska Farm Bureau Foundation for Agriculture is a certified 501(c)(3) charitable organization.
Q: From whom does the Nebraska Farm Bureau Foundation for Agriculture receive funds?
A: Financial support for the Foundation comes from individual donors, agriculture organizations, corporations/foundations, grants and endowment funds. The Nebraska Farm Bureau Foundation for Agriculture accepts contributions from individuals and other allied groups or organizations interested in the purposes of the Foundation.
Q: How can individuals give to the Nebraska Farm Bureau Foundation for Agriculture?
A: Individuals interested in giving to the Foundation can do so in the following ways: outright gifts (cash, securities, real estate), deferred or planned giving (wills and bequests, life insurance, remainder interest), endowments, memorial or tributes, gifts in trust, annuities and annuity trusts. Donor contributions maybe tax deductible as allowed by law.
Q: How does Nebraska Farm Bureau Foundation for Agriculture distribute the funds?
A: The Foundation makes primary grants to programs sponsored or coordinated by the Nebraska Farm Bureau Federation, and monies contributed will be used exclusively for the activities noted.
Q: Who decides how the funds are distributed?
A: Unless otherwise designated to a specific program or activity, funds are determined and distributed by the Foundation's board of directors under the guidance of the Foundation's mission and purpose. The directors of the Foundation are Nebraska Farm Bureau Federation board members, Nebraska agriculture, agri-business and education leaders as well as other leaders who are passionate about the future of agriculture in Nebraska.