Piers Park Sailing Center - Boat Donation (Page 2 of 4) in pdf

Piers Park Sailing Center – Boat Donation

What can I donate?

Sailboats, motorboats, equipment (i.e. used sails), kayaks/canoes, dinghies are all acceptable donations.

Is my donation tax deductible?

Yes, 100% of the fair market value of your donation is tax deductible.

For additional information see Internal Revenue Service

Publication 526: Charitable Contributions

( )

How is the value of my donated boat or equipment determined?

The value of donated boats and equipment (or groups of similar items such as sails) over $5,000 is

determined by a qualified appraiser you select. This avoids research and guesswork for you and

eliminates a potential conflict of interest for a charity eager to attract the potential donation with an

inflated appraisal. If you need an appraisal for your donation contact

The National Association of Marine

Surveyors (NAMS)

( ) or The

Society of Accredited Marine Surveyors (SAMS)

( ) for a boat or your local sail loft for valuing donated sails.

For donated vessels that we are not able to make substantive use of or material improvements to, the

value is determined by the amount we report to you and the Internal Revenue Service that we sold it

for. This eliminates the guesswork and risk of you determining the value of your donation.

We will not accept a boat without telling you what our plans are for it upfront.

For an idea of what your boat may appraise for try

BoatU.S. Value Check

( ) or compare similar boats in classified ads such as at

( ).

For additional information see page five of the Internal Revenue Service

Publication 561: Determining

the Value of Donated

Property( ).

How will my donation be used?

Donations to the Piers Park Sailing Center will be used to support a variety of waterfront activities such

as learn to sail programs, adult sailing memberships, and the harbor explorers youth program. When the

vessel no longer meets our program needs it is sold to provide the financial support necessary to

operate these activities.

Donating a boat can provide significant peace of mind for a boat owner. Tax law changes implemented

in 2005 enhance the benefits of individuals donating to reputable charitable organizations such as the

Piers Park Sailing Center. Now the charity is required by law to state up front one of three intended uses

Piers Park Sailing Center - Boat Donation Page 2