Boat Donation Programs

Mike | Salvage | January 10, 2016

at Donation programs take boats and use them in their in-house programs for a while before eventually selling them on. These Non Profit organizations will evaluate the boat and offer you a Tax Credit. Donating your boat doesn’t make sense if a Tax Credits doesn’t work for you.

Boats of all types can be donated. Each of the organizations below have specialize in a type of boat

Popular Donation Programs;

There are plenty of donation programs from Non Profits or 501Cs. Check your local area or Charity to see if they have a Boat donation program.

Action Donation

Block Island Maritime

Boat Angel

Boats 2 Charity

BoatUS

Charity Boat Sales

Charity Boats

Helping Hands of America

               Maine Maritime

US Naval Academy

How do Boat Donation Programs Work?

This is from the Block Island Maritime site.

Boats donated to a charity can qualify for a significant tax deduction.

An individual or a couple filing jointly are allowed to deduct up to 50% of their adjusted gross income as charitable contributions on their Federal tax return. This would include the appraised value of a boat. Most States also recognize the charitable contribution of boats but State rules can vary and a tax professional should be consulted with regard to an individual’s specific State.

When a vessel is donated to a 501(c)(3) non-profit organization, several conditions must be met in order for the donor to deduct the appraised fair market value of the vessel.