Charity Boat Auction

Charity Boat auctions and Car Donation Services are a wonderful way to raise hundreds to even thousands of dollars for you’re the red cross car donation centers and other charitable organization. One successful auction could aid your foundation significantly. Before you get started, though, here are a few pointers to help you along the way.

The first thing you’ll need to consider if attempting to develop a fundraising boat auction is whether or not you have the storage capacity and equipment necessary to haul and store any donated boats you may receive. Your organization’s members will need to be able to set up arrangements with the donor to haul the boat from their property. You’ll also need a place where you can store the boat until it’s ready to sell at auction. Look around in your community for storage facilities you can rent for boats, RVs, and other vehicles.

You then need to consider how you’re going to deliver the charity boat auction winners. Keeping your boat auction local is probably the most manageable way to do this. If you choose to sell to out of state residents, however, you’ll need to come up with a workable plan for delivery. Another option is to let auction participants know that they will have to be responsible for picking up the boat they’ve won. These factors should be resolved and clearly stated at your auction in advance.

Now, it’s time to find some donors! You can set up a website, run ads in papers, boating magazines, or other media, or solicit boat owners in your area, asking for boat donations. You can also utilize government seizure auctions where you can purchase boats at their auctions then re-auction them at higher starting bids. Whatever your approach, it’s important to explain to potential donors the importance of their donation and the many advantages they may receive by donating. Giving your boat away is a grand gesture, so give them the recognition they deserve in supporting your cause.

One can gain many rewards by donating a boat to a charity. If supporting a worthwhile cause that can help many, many lives is not enough to convince potential donors to contribute, then let them know about the practical advantages that also come along with the territory. By donating a boat, you can earn what’s known as a “fair market value tax deduction”, which can sometimes be far greater than what you would be able to sell the boat for on your own. All it takes is a little paperwork and time for them to receive some wonderful tax benefits they can apply on their next return. You can find services like kidney car donation, red cross car donation and, goodwill car donation centers.

For more information, check out the IRS website at www.irs.gov and review the following publications and be careful of car donation scam:

• Publication 526, Charitable Contributions
• Publication 561, Determining The Value of Donated Property
• Form 8283, Noncash Charitable Contributions
• Instructions for Form 8283, Noncash Charitable Contributions

In addition, boats are not exactly inexpensive to maintain. Insurance, dock rental, upkeep, and other expenses can become a burden after time. Some boat owners may no longer be able to afford these expenses. Give them good reasons to consider these factors and others and see where it leads them.

What about paperwork? You may be wondering what, exactly, you need to do to make the boat donation legal and official. First of all, it’s best that you set up a pre-made form that the boat owner can fill out regarding their donation. This will save you both some time and make the process more organized. Research “boat donations” online to check out different non profits that accept boat donations and look at their forms so you can get an idea of what information you’ll need to put on yours.

Next, you’ll need to assess the boat’s condition and arrange for pick up. You also need to create a donor’s receipt to give to your supporter once you receive the title. Remove the boat from their property and get it prepped for auction.

You’ll also need to establish a place where you can host your boat auctions or goodwill car donation. If you can’t afford to rent a space to do to them locally, you can host your auction online. At IDonateToCharity.org, your not-for-profit organization can sign up free and utilize our auction website with no listing fees! This is a perfect, user friendly venue, providing a variety of useful resources, that can help you create successful charity boat auctions to support your institution.

Once your charity boat auction is over, you’ve received payment, and delivered the boat to the auction winner, you’ll then need to send the person who donated the boat a copy of the bill of sale, along with the required, appropriate IRS forms that they will need to file with their tax return. Make sure you keep accurate records, too, for your organization’s tax purposes.

Remember to have fun with your boat auction event! Get people involved and excited and thank them for their valuable time and support.