donating your vessel to WBFV
WBFV is a 501(c)3 public foundation. Its mission requires actively soliciting the donation of vessels to be used in our maritime programs for education and training. Vessel donations from generous supporters like you allow veterans to succeed in learning to sail and care for boats. We work with you to ensure a smooth donation process.
Why give your boat to WBFV?
Vessel donations are used by strategic partners for education and training programs. Vessel donations are eventually sold to provide funding for maintaining current assets and to expand outreach and impact. This cycle allows for financial support of strategic partners, while creating a path for vessel replacement.
How a boat donation can benefit you
The benefits of donating your boat to WBFV are numerous:
- Tax deductible
- Immediate disposition of a boat that is slow to sell and costly to maintain
- Paperwork is handled for you, including charitable tax forms. We take care of the title transfer and supply the paperwork in order to receive the charitable donation on your tax return
- You gain the deep satisfaction that comes from supporting the well-being of veterans in our programs
The tax deductibility of your gift
WBFV is a tax-deductible foundation as described in the Internal Revenue Service Code under section 501(c)3 (EIN 46-4194065). Please contact your tax advisor for more information on how to fully deduct your charitable vessel donation.
To donate your boat to WBFV:
- Speak to your tax advisor to review the financial benefits of your gift
- If appropriate, a meeting will be arranged with you or your representative to examine the boat and answer any questions you may have
- Obtain your own independent appraisal from a qualified NAMS or SAMS marine surveyor. This will help you establish the value of the boat for tax purposes
- Contact WBFV and describe your boat - age, general condition, current location
- WBFV will assist you with the deed of gift and providing the appropriate IRS forms
- Transfer ownership