What can I donate?
Is my donation tax deductible?
How is the value of my donated boat or equipment determined?
How will my donation be used?
What forms do I have to complete?
What other additional resources are available about boat donations?
What can I donate?
Sailboats, motorboats, equipment (i.e. used sails), kayaks/canoes, dinghies. Click to see examples of recent donations and boat donation guidelines.
Is my donation tax deductible?
Yes, 100% of the fair market value of your donation is tax deductible.
For additional information see Internal Revenue Service Publication 526: Charitable Contributions.
How is the value of my donated boat or equipment determined?
The value of donated boats and equipment (or groups of similar items such as sails) over $5,000 is determined by a qualified appraiser you select. This avoids research and guesswork for you and eliminates a potential conflict of interest for a charity eager to attract the potential donation with an inflated appraisal. If you need an appraisal for your donation contact The National Association of Marine Surveyors (NAMS) or The Society of Accredited Marine Surveyors (SAMS) for a boat or your local sail loft for valuing donated sails.
For donated vessels that we are not able to make significant intervening use of or material improvements to, we may accept them as Held for Sale. In this case the value is determined by the amount we report to you and the Internal Revenue Service that we sold the boat for. This eliminates the guesswork and risk of you determining the value of your donation and can immediately eliminate additional expenses and avoid the hassle of selling the boat yourself. The tax deductible value of held for sale donations, however is often lower than donors may think their boat is worth. For an idea of what your boat may appraise for compare similar boats in classified ads such as at www.yachtworld.com
For additional information see page five of the Internal Revenue Service Publication 561: Determining the Value of Donated Property.
How will my donation be used?
Donations to the Maritime College Waterfront will be used to support a variety of waterfront activities such as learn to sail programs, college and high school sailing and crew teams, summer camp and safe powerboat handling courses. When the vessel no longer meets our program needs it is sold to provide the financial support necessary to operate these activities. We will not accept a boat without telling you what our plans are for it upfront.
What forms do I have to complete?
There are just three simple donation forms which are very straight forward and can be completed in a matter of minutes. Please, for your sake, DO NOT complete the forms until both you and SUNY Maritime College are willing to proceed with the donation.
The forms are:
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Deed of Gift (USCG Form 1340) – complete the basic boat description and have the donor’s signature notarized.
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Noncash Charitable Contributions (IRS Form 8283 Noncash Charitable Contributions and Instructions for Form 8283) – complete with donor’s social security number and boat description. Appraiser signs the document and the SUNY Maritime Foundation signs and returns to the donor.
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Proof of Ownership – original, up-to-date, transferrable proof of ownership such as a state registration, state title free of liens and/or USCG Certificate of Documentation need to be signed.
What other additional resources are available about boat donations?
Tax Deductible Donations
Internal Revenue Service Publication 526: Charitable Contributions.
Internal Revenue Service Publication 4303: A Donor’s Guide to Car Donations (applies equally to boat donations).
Determining the Value of Donated Property
Internal Revenue Service Publication 561: Determining the Value of Donated Property (page 5 talks specifically about boats).
On-line Boat Classifieds
Claiming Tax Deduction
Internal Revenue Service Form 8283 Noncash Charitable Contributions and Instructions for Form 8283