Donate a Car or Boat to Charity

A charity that uses a donated vehicle for transportation or hauling goods obviously benefits directly from such a donation. However, in many cases the cars will be sold en masse, either by the charity itself or by a dealer to raise funds for the charity. In the case of a dealer, the charity generally receives a flat fee per car, sometimes as little as $45 per car.

Before you hand one of your biggest assets over to anyone, read the following tips to be sure you’re making the right moves

1. Find a worthy charity. If the charities you normally support aren’t equipped to accept such donations, do some homework until you find a reputable charity that is. You can research charities’ track records online at this Better Business Bureau site and through Charity Navigator.

2. Be sure that you get a receipt from the charity for your car donation

3. Be aware that non-cash donations are one of the most common triggers to an audit by the IRS, so you’ll want to document the value of the car and keep records of it.

4. Take pictures of the car and save receipts for new tires or other upgrades to verify its value.

5. Do the delivery yourself. Once you’ve identified a worthy charity, recognize that it will have to pay someone to pick up your car or boat for you. To help the charity maximize the benefit of your donation, drop the car or boat off yourself.

6. Remember, it is the donor, not the charity, who is obligated to value the car and who will pay the penalties if an IRS challenge finds your figure inaccurate.




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