Commodities for Clemson
Commodities for Clemson is a new program that allows agribusiness owners to make a direct “transfer” of an agricultural commodity such as grain, corn, or soybeans to the Clemson University Real Estate Foundation (CUREF) in support of Clemson University with the priority of supporting Cooperative Extension. CUREF was chartered in 1991 and is an independent, not-for-profit 501(c)(3) organization with the purpose of accepting all gifts of real estate on behalf of Clemson University. In addition to real estate, CUREF has the structures in place to accept gifts of commodities.
GIFT FLOW
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Step 1:
Donor completes and returns the CUREF Form to designate commodity gift to CUREF and allocation of sale proceeds.
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Step 2:
Donor delivers commodity to elevator/co-op or Palmetto Grain brokerage. Scale receipt given to donor.
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Step 3:
Commodity ownership transferred from donor to CUREF (dominion and control).
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Step 4:
CUREF authorizes sale of commodity and sends donor acknowledgment letter with commodity type, date received and gift credit amount.
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Step 5:
Sale proceeds transferred to CUREF for distribution to program beneficiaries.
