AMERICAN REEF COALITION
Donate Your Boat
Your donation stays in Hawaii, working to protect Hawaii's unique environments.
Thinking of selling? You may benefit by donating to our organization.
The American Reef Coalition is a Hawaii nonprofit corporation and IRS 501(c)(3) approved nonprofit. We've been accepting boat donations in Hawaii since 2002. All donations are tax deductible to the full extent of the law and your asset stays in Hawaii helping to protect our unique and fragile natural environments for future generations.
Since we utilize boats as workboats and research vessels within our approved purpose in marine conservation, you may base your deduction on the Fair Market Value of your vessel as established by a survey. To make this offer, the boat must be in good working condition and preferably have a fair market value of at least $20,000.
Example (left): The commercial fishing boat pictured above left had a surveyed Fair Market Value of over $200,000. The owner no longer fished commercially due to health reasons and he tried to sell his boat. But in a down economy the boat sat idle without a serious offer. Slip fees, insurance and maintenance fees kept piling up as the months wore on. He did some research and decided to donate the boat to the American Reef Coalition. All the costs associated with keeping the vessel immediately stopped for the donor. He was able to base his tax deduction on the surveyed Fair Market Value of the vessel and we were able to use the vessel within our marine conservation programs here in Hawaii.
Example (right): The boat pictured above right was a fishing charter boat on the Big Island. The owner had tried to sell the boat but didn't receive a serious offer. He had a new vessel coming in and needed the slip available immediately. We were able to take the donation and remove the vessel in time for the donors new vessel to occupy the slip. Later, we were able to sell the vessel at the surveyed market value. Which, gave the donor a nice tax deduction and gave us a much needed cash infusion into our conservation programs.
The reasons people have been donating their boats to us over the last dozen years always start with the realization they just don't want or need the boat anymore. Most try to sell their boat only finding it's not as easy as they dreamed it would be and they are rarely offered what they think their boat is worth. They research the donation option, find us and learn they can get the highest possible tax benefits by donating to our organization. Reason being, we actually use boats within our approved purpose in marine conservation here in Hawaii. Their donation stays here in Hawaii protecting Hawaii's natural environments. Either as a workboat/research vessel or as a liquidated asset that funds our programs.
Donor Benefits: All the bills for boat maintenance, insurance and slip fees immediately stop upon donation. Which, can amount to quite a bit out of pocket since it usually takes 6 months or more to sell a boat in Hawaii. Also, there are no brokerage commissions or taxes to pay. Depending on the value of the vessel and your tax situation, you may be able to pay forward your tax deduction over 5 years of taxes. Your donation also stays in Hawaii, protecting Hawaii's unique natural environments for future generations.
We accept yachts, power boats, sailboats, trailer boats and jet skis that are in good working condition. We can also accept cars, trucks and airplanes.
We've been accepting boat donations in Hawaii and providing donors with maximum tax benefits since 2002.
Any boat or vehicle that we can use in purpose will be put into service. If we cannot use a boat or vehicle within one of our programs, it will be sold at the highest amount offered and the profits from proceeds will go directly into our efforts to protect and conserve Hawaii's natural resources. Either way, your donated asset will pay your taxes to the full extent of the law.
4 Easy Steps:
1) Call or email us with your questions and intention to donate.
2) If your boat is something we could accept, we'll come out to meet you and review your donation.
3) If you have a survey that's more than 60 days old, a new survey must be ordered. This establishes market value and the base for your tax deduction.
4) Once you donate your boat, we provide all the required IRS paperwork. The entire process usually takes less than a week from start to finish.
"With government conservation budgets getting hacked to pieces, the future of nature conservation is now in the hands of concerned citizens that donate to nonprofit conservation organizations"
For tax related information, check out IRS publication 4303 and IRS publication 526.
For more information on donating your boat, email firstname.lastname@example.org or call 1-808-870-5817.
The American Reef Coalition is not in the tax advisory business. Consult your tax advisor concerning your particular tax situation and any possible tax benefits.