Why Gifting Farm Equipment Proved a “Win-Win” Solution for Gary
Farming isn’t just a job for Gary. It’s his family’s legacy. A third-generation farmer, Gary has seen the Lord’s provision throughout his 80 years on the farm in Worthington, MN, originally started by his grandfather.
“The Lord has really blessed me and my brother,” says Gary.
Now that Gary is older, he’s shifting away from cultivating corn and soybeans. These days, he’s more focused on cultivating the next generation of farming — now renting his land to his nephew.
Gary’s decision to rent the land meant that he no longer needed all of his farm equipment. However, he knew that if he sold it, he’d pay significant taxes on the income. Gary sought a tax-wise solution that would accomplish his goals, while also furthering the Kingdom.
With Barnabas Foundation’s assistance, Gary was able to not only liquidate the equipment, but also give in a significant way to a ministry close to his heart. His gift will help Bible League International carry out their mission of providing Bibles to people around the world.
Gary found the process of giving the equipment to be easy and quick. “It’s a win-win for me,” he says. “I have a total sense of peace about this transaction. This was a way for me to make a charitable gift, and not be burdened with taxes.”
Gary says the decision to give generously to the Kingdom has always been an easy one for him and his family.
“These proceeds need to go to the Lord’s checking account,” he says. “I figure it’s the Lord’s to begin with.”
In doing so, Gary is contributing to his family’s legacy of stewardship and farming, furthering the Gospel for many years to come.