Thinking of selling? You may benefit by donating to our organization.
The American Reef Coalition is a IRS 501(c)(3) approved nonprofit organization. All donations are tax deductible to the full extent of the law.
Since we utilize boats within our approved purpose, you may base your deduction on the Fair Market Value of your vessel as established by a survey. To make this offer, the boat must be in good working condition.
Example: The boat pictured above had a Fair Market Value of over $200,000. The owner tried to sell it, but in a down economy the best offer he received was $75,000. He donated the boat to the American Reef Coalition. We were able to use the vessel within our marine programs in Hawaii and the donor was able to base his tax deduction on the Fair Market Value of over $200,000. He was also able to pay forward the deduction over 5 years of taxes.
We accept power boats, trailer boats, sailboats, yachts and jet skis. We can also accept cars, trucks and airplanes.
We have been accepting donations and providing donors with maximum tax benefits since 2002.
Any boat or vehicle that we can use in purpose will be put into service. If we cannot use a vehicle within one of our programs, it will be sold at the highest amount offered and the profits from proceeds will go directly into our efforts to protect and conserve our natural resources. Either way, your donated asset will pay your taxes to the full extent of the law.
"With government conservation budgets getting hacked to pieces, the future of nature conservation is now in the hands of concerned citizens that donate to nonprofit conservation organizations"
For tax related information, check out IRS publication 4303 and IRS publication 526.
For more information on the boat donation process, email donate@americanreef.org or call 1-808-870-5817.
The American Reef Coalition is not in the tax advisory business. Consult your tax advisor concerning your particular tax situation and any possible tax benefits. |