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boat donation how does this work?

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Old 11-16-2006, 02:15 PM
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Default boat donation how does this work?

anyone ever done this?
I was wondering if you sold your Nor-tech or not. If not I have an option for you to consider. I'm a partner in a business that works with MADD and a subsidiary of the Komen Breast Cancer Foundation. We have a program with them called the bargain sale donation. In today's boat market it ends up being the most logical way to sell your boat. Selling it outright means taking a bath! In a nutshell the charity would buy your boat for your asking price (or more in some cases). The hitch is that the selling price would be made up of $200,000 +/- in cash PLUS $150,000 +/- in the form of a donation. The tax benefit is valid for up to five consecutive years. It's a fully recognized IRS program (form 1098-C). If you're interested I can send you more info. You can also call me at
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Old 11-16-2006, 02:28 PM
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Default Re: boat donation how does this work?

or they could just take the loss and "donate" the boat to ME

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