Richard and Kollene Dreifke
Richard Dreifke has lived on a farm his entire life and says this lifestyle is just in his blood. The farm in Hubbard, Iowa, has been in his family for 112 years. This year Richard and his wife Kollene used part of the grain from their harvest as a charitable gift to the Hubbard Public Library Endowment which is held at the Hardin County Community Endowment Foundation.
Richard said making the donation was easy and provides many tax benefits. When the grain is delivered to the co-op, he transfers the bushels to the charity of his choice and the charity then makes the decision on when to sell the grain.
"I'm a farmer so this is a commodity I have. This offers a way to give more than you may have originally thought you could, and it does not cost you any more in the end. Rather than selling the grain yourself, claiming it as income and then giving the money away, directly giving it to the charity saves you quite a bit on federal and state taxes and the gift qualifies for the 25 percent Endow Iowa Tax Credit," he said.
"We feel very loyal to the local community, and a lot of the families in Hubbard are third and fourth generation. It's the whole heritage here and the people have a strong feeling about seeing that continue. We want to have the best quality of life in our small town as possible," Richard said.