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October 24, 2008, Newsletter Issue #127: Getting Full Value for Boat Donations
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Tip of the Week
The Boy Scouts of America, the Maine Maritime Academy and the Northwest School of Wooden Boatbuilding are all nonprofits actively seek boat donations to enhance their work in education and research.
While most charities sell boat donations for the proceeds, these organizations also have ocean-based programs that require a fleet of seaworthy vessels.
This is good news for people who want to donate a boat and claim the fair market value as their tax deduction. Here is a brief synopsis of the organizations:
- The Northwest School of Wooden Boatbuilding, for example, has a mission to preserve the tradition of wooden boatbuilding in the United States.
- The Boy Scouts of America offers Sea Scouts, which highlights comunity service and nautical education for teenage boys.
- Maine Martime Academy is a college that offers nautical training and emphasizes America's shipbuilding and seafaring traditions.
These organizations have specific critieria for the boats they need in their work. So don't expect them to automatically accept boat donations. But they will consider your offer of a charitable gift.
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