Monday, February 26, 2007

Boat donations


When browsing the Internet I realized there are quite a few Web sites dedicated to boat donations.
Some suggest donating a boat to help fund medical causes, charities, nonprofit organizations offering relief and assistance, schools and universities for fundraising or their sailing programs.
Most, if not all programs, offer tax deductibles in return of boat donations under the IRS Code 501 (c)(3). The IRS – the Internal Revenue Service – falls under the United States Department of the Treasury, and allows to deduct the estimated amount of the donation from ones taxes. I tried looking at the IRS Web site to get specific details, but it is all very technical and complicated – I didn’t understand much from it!

St. Mary’s College of Maryland, a public liberal arts college with a varsity sailing team that had been ranked in the top ten of the nation since 1991, is always seeking boat owners interested in donating their vessels.
Though the college is a highly competitive pole, most of its fleet is reserved to recreational sailing as half of St. Mary’s student complete at least one of the sailing classes and are entitled to use the boats and kayaks during the afternoons. The college seeks boat donations to implement their fleet.
The College itself created a program called “Sail Into Life” that brings sailing to economically disadvantaged youth and is a Special Olympics training site.

Donations of boats to St. Mary’s College are made to the St. Mary’s College of Maryland Boat Foundation, Inc., which serves as the fundraising organization for the college.

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