Acres for Good

SMIF’s Acres for Good: Farmland Succession Program is focused on retaining one of southern Minnesota’s greatest assets: our farmland. By donating land, we can keep your farmland farming while using the extra income to impact causes you care about for future generations.

Currently, Minnesota’s southeastern and south central farmland is estimated to be worth over $50 billion. More than $7 billion of wealth in SMIF’s region is expected to transfer by 2030, much of this in the form of land. The Acres for Good Program is an opportunity to keep wealth local, give back to your community, and safeguard the legacy of your land.

For more information on donating land through the Acres for Good Farmland Succession Program contact:

Alissa Oeltjenbruns, Vice President of Philanthropy & Community Vitality

Phone: 507.214.7023
Email: alissao@smifoundation.org

Donate farmland when I retire or die in my will

Farmland Donor Spotlight: Neil and Jenna Kruse

Every farm has a story. Neil Kruse wants to see the next chapters for his family’s farm keep the rhythms of planting and harvest, machinery rumbling down the gravel roads and neighbors stopping to visit through the windows of their pickup trucks. With help from their estate planning attorney Neil and his wife, Jenna, created a plan that will keep the family’s 145 acres in production after they’re gone.
 
During his time teaching and coaching, Neil got involved with Minnesota Agriculture in the Classroom, American Legion Boys’ State and Fellowship of Christian Athletes, volunteering countless hours. Rental revenue from the Kruses’ estate gift of farmland will support these nonprofits for years to come. “Putting together an estate plan was just one of those big things you know as a couple you want to have done. I’m very thankful Neil found a fit for his vision when he’s gone,” Jenna said.

How it Works:

  • Landowners: Your gift of land provides an immediate charitable deduction while bypassing all capital gains taxes and creating a stable source of income.
  • SMIF: We maintain your farmland in perpetuity and provide annual rental income as directed by you, the donor.
  • Tenants: Current and/or local tenants may continue to rent your land, keeping generated wealth local.
  • County: SMIF retains ownership of the land and continues to pay local property taxes.
  • Southern Minnesota Organizations: Local causes and organizations you care about will receive your land’s rental income to address community needs and opportunities.

Use Your Acres for Good

How to donate my farm when I retire or die in my will

 

  • Good for You: Your gift of land provides an immediate charitable deduction while bypassing all capital gains taxes. Your donation sustains your land’s farming legacy, supports local farmers who may want to rent your land, and advances your charitable goals.
  • Good for the Community: Allocate land towards a local community foundation managed by SMIF and your land assets will benefit local charitable efforts for future generations.
  • Good for a Cause: Set up a Donor Advised Fund to allocate resources to your different interests and values such as your place of worship, alma mater, or local charity.

FAQ About the Program

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