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June 6, 2008, Newsletter Issue #107: Ocean Foundation Seeks Boat Donations
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Tip of the Week
Donate Car For Charity Tip: If you donate a boat, the vessel may be used for dolphin or whale research or as an ocean-based classroom. Some nonprofit marine institutes use boat donations to further their causes, like The Ocean Conservation Society, which accepts boat donations to further its mission of helping preserve the world's oceans and marine life. The California-based charity is a 501(c)3 nonprofit that operates the Los Angeles Dolphin Project and makes presentations on ocean conservation to California schoolchildren. Changes in tax laws in 2005 limit the deduction that a donor can make for vehicle donations that are resold by charities, but the Ocean Conservation Society may keep and use boat donations. This kind of direct charitable use may entitle the boat donor to claim a tax deduction for fair market value.
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