The purpose of the publication page is to give you a high level overview of the rules and forms which will be used in the donation process.
The American Jobs creation act of 2004 went into effect January 1, 2005. The main change which effects yacht (personal property) donations to a 501 C3 charity are outlined below.
Charities receiving yacht donations are now required to send a form of contemporaneous written acknowledgment (1098--‐c). This form states that the donated property will not be sold or traded before Completion of either “material improvements” or “significant intervening use”; this allows the donor to use the appraised fair market value instead of the liquidation price to determine his deductible contribution. The donor is required to hire a knowledgeable Accredited Marine Surveyor who will use Published marine price guides, past sales performance and other comparable data to determine fair Market value.
American Foundation Funding provides the following information as a courtesy only. It is not meant to replace the advice of your legal and financial representatives. We urge you, before making a donation to consult your qualified advisors.
Click on Images below for link to publication.
Determining the Value
of Donated Property p561
Charitible Contributions p526
A Donors Guide to Vehicle Donations
Donee Information Return 8282
2011 Instructions for Form 1098C
Contributions of Vehicles, Boats, and Aircraft 1098-C
Instructions for form 1098-C
Noncash Charitible Contributions Form 8283