Yacht Donations

Thank you for learning more about donating your yacht to the Benefiting the Boys & Girls Clubs of America. Your generous gift will increase the funding we can provide to our Clubs, helping them expand their programs and provide even more opportunities for young people to succeed. By supporting these organizations, you’re directly helping to empower children, inspire their potential, and set them on a path to excellence.

Additionally, your contribution can immediately eliminate your ownership costs and reduce your income tax burden. It’s truly a win-win!

We make the donation process easy for you, from walking you through the paperwork to picking up the yacht. Here are the steps:

  • Decide donating your yacht makes sense for you. 

  • Get a qualified appraisal of the yacht’s fair market value from a marine surveyor.

  • This appraised value will be the amount you can deduct on your federal tax return in the year in which the yacht is donated.

  • You can deduct a percentage of your adjusted gross income as a charitable deduction on your federal tax return. If the entire appraised amount cannot be utilized in the year in which the yacht is donated, you may be able to carry forward the balance for 5 years.  

  • Your state may also recognize the charitable contribution of yachts and allow deductions for such donations.  Check with your local tax professional as this varies state by state.

  • We will provide to you a Deed of Gift and IRS forms 1098C and 8283 which will indicate whether Benefiting the Boys And Girls Club Of America will make material improvements and/or have a significant intervening use for the vessel.

  • When we receive the signed Deed of Gift, ownership of the vessel will transfer to the Benefiting the Boys And Girls Club Of America at which point all responsibility for the vessel and all related expenses (storage, transportation, maintenance, insurance, repairs and brokers fees) transfer to the Benefiting the Boys And Girls Club Of America. Benefiting

Is Donating Right For Me?
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IRS resources regarding donations

IRS Donor’s Guide to Vehicle Donations

IRS Publication 526 – Charitable Contributions

IRS 8 Tips for Deducting Charitable Contributions

When making a charitable contribution, you will need to itemize your deductions on Schedule A of the Form 1040 and attach a 1098-C form which you will receive from Benefiting the Boys And Girls Club Of America that will be submitted with your tax return.

The Benefiting the Boys And Girls Club Of America is an IRS approved 501(c)(3) organization. Our EIN is #82-3348426.

A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE WITHIN THE STATE. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THE STATE. REGISTRATION INFORMATION IS AVAILABLE AT 1-800-HELP-FLA (435-7352) OR WWW.FLORIDACONSUMERHELP.COM.

Disclaimer Legal Notice: None of the information on this website should be construed as legal or financial advice; any owner considering donating their vessel should consult in advance with their tax professional. Not all yachts will be accepted by the Benefiting the Boys And Girls Club Of America as not all yachts will be a good fit for our programs.  Viewers of this website acknowledge that the use of this website does not constitute an attempt by the Benefiting the Boys And Girls Club Of America to solicit donations in any state where such solicitations are restricted by state statutes.

The donation process begins when a “Complementary Analysis of Possible Donor Benefits” is completed by Benefiting The Boys and Girls Clubs of America for the owner’s evaluation. Once the owner’s name, address and contact information is noted, Benefiting The Boys and Girls Clubs of America obtains a detailed description of the vessel from the owner, including condition, special equipment, electronics and any other features which the donor thinks would add value to the boat.

Our financial staff reviews the information and then determines a “Total Estimated Value” which is based upon nationally recognized publications such as the BUC Books and NADA. These publications are established using research and marketing information compiled and reported by marine surveyors, manufacturers, dealers and others versed with the marine industry.

Consideration is also given to all aspects of the engine (or engines) condition, number of hours and usage, as well as special equipment such as air conditioning, generators, anchor windless, electronics, radars, enclosures, galley equipment, etc. Because the physical condition of the boat and associated equipment is so critical, a condition estimate value (a plus or minus 25% factor is defined by the BUC Book Guidelines in regard to the overall condition of the boat) may be applied which results in a “Total Estimate Value”.

Our financial staff establishes an estimate of the “Bargain Sale” cash allotment that Benefiting The Boys and Girls Clubs of America will consider, which is based in part by the type and condition of the vessel. Any “Bargain Sale” cash paid for a vessel is subtracted from the “Total Estimate Value” to establish the “Tax Deduction” the donor should expect to realize. Actual “Tax Savings” will be determined by the donor’s IRS tax bracket. The “Total Realized for the Gift” is the sum of the “Bargain Sale” cash and “Tax Savings”.

There is no set amount or percentage of “Bargain Sale” cash that is offered. The balance between “Bargain Sale” cash and “Tax Savings” is based upon many factors. Our staff makes every effort to present a total package that is a mutually beneficial situation for both the donor and Benefiting The Boys and Girls Clubs of America.

After the owner evaluates the “Analysis” and it appears we have a mutually beneficial package, Benefiting The Boys and Girls Clubs of America personnel will make a physical inspection of the boat to verify the exact condition and to determine if there are any factors which might influence our initial evaluation (higher or lower) of the boat’s estimated value. If there are no drastic changes to the package, we proceed to the next step.

Next, the donor, at his expense in accordance with IRS Regulations, must obtain the services of a qualified Independent Marine Appraiser to provide an official “Total Appraised Value” if the vessel is valued at more that $5,000 and will be used in our educational programs or materially improved by the school. Two independent appraisals may be obtained if the donor is extremely cautious or would like additional confirmation of the “Total Appraised Value”. An appraisal is not necessary if the vessel is valued at less than $5,000 or will be sold in order to generate funds for scholarships, materials, faculty or other educational needs.

The ownership documentation and a “Deed of Gift” is now transferred to Benefiting The Boys and Girls Clubs of America. The donor will receive a check for any “Bargain Sale” cash plus the IRS Form 8283 along with an “Acceptance of Gift” from Benefiting The Boys and Girls Clubs of America. The Donor will also receive IRS Form 1098-C not more than 30 days after the donation was finalized if the vessel will be used in our programs or substantially improved upon. If the vessel cannot be used in our programs or is being sold to generate funds, the Donor will receive his 1098-C within 30 days of the actual sale. These forms are necessary to include with the donor’s tax submittal to obtain the tax deduction. Benefiting The Boys and Girls Clubs of America is, at this point, the new owner of the boat.

Benefiting The Boys and Girls Clubs of America takes possession of the vessel and performs any repairs, or refurbishments necessary to place the boat into service or on an open market. Marketing of the boat for qualified vessels is done in accordance with our unique “Donor Protection Policy“. Proceeds from the sale or leasing of the donated vessels are used in supporting The Boys and Girls Clubs of America.