People donate their boats to charitable organizations for a lot of reasons. Some want to get out from under the expenses of ownership and score a tax deduction at the same time. Others don’t have the time to sell it. Some have overinvested and know the market will never repay them, so instead of swallowing the bitter pill of a big loss, they choose the altruistic route. And then there are those for whom a donation offers the satisfaction of helping to support a cause they care about, like Giving Center.
“Everyone has a different viewpoint, yet for many, the process of donating can be emotional because it’s not always easy to let go of something that’s important to you,” says Brad Avery, the Director of Marine Programs for Orange Coast College School of Sailing and Seamanship in Newport, California, one of the nation’s largest nonprofit public boating education institutions—which has a fleet of power and sailboats comprised of donated vessels and those purchased from proceeds of other gifts. “Every donation is different in terms of what people are looking for, and their wishes often depend on the size of the gift and their objective.”
Boat donations are an excellent means of philanthropic giving, but the process isn’t as simple as some people think. It has to be done right with some planning, research, and the advice of a tax professional. By crossing the t’s, you can turn your old boat into a gift that helps Giving Center without giving yourself the headache of a financial disappointment. In order for you to qualify for a deduction, the charity that gets your donation must be an IRS-approved 501(c)(3) organization. That is where Giving Center can help! They are a registered IRS-approved 501(c)3 charity organization that is prepared to handle both small and large boat donations.
Giving Center has an excellent reputation for working with donors and taking their intentions for their boats seriously. That professionalism has drawn some high-profile donors to their charity. We have received many impressive vessels (models from 14 to 92 feet) over the years. Donate a yacht, donate a sailboat, or just donate a fishing boat. There is nothing too big or too small Giving Center’s donation program can’t handle.
For more information on how you can donate a boat with Giving Center please follow the link here.