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Donate Your Old Car To Charity
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An ageing car becomes less and less useful especially if repairs occur more and more often. Those facing the dilemna of not knowing how to dispose an old car without something in return should know that charities can help solve their situation.
Started in 1978 by the Davis Memorial Foundation, car donations for charity is a hassle-free way to give away an old ride and avail of a nice tax deduction. Davies started the service to help it capture more of the donations in the US.
However, as years passed by more and more charities performed car donation drives. The programs became more and more complicated and returns received by a charity have supposedly dwindled. The decline has put into question whether car donations for charity remain a viable fund-raising practice.
Is the charity fully compensated?
The United States General Accounting Office found in a 2000 study that nearly 75% in 54 cases studied that the charity only received around 5% of a donated vehicle's fair market value detailed in an individual tax filing.
The small return for the charity is partly explained by the fact that the car is normally sold at auctions or wholesale. A charity needs to spend on advertising on the television, radio, newspapers and online resources. The charity also needs to spend on improving the condition of the car, towing and various related paperwork. These other costs are then subtracted from funds received after the selling the car.
Some charities could even receive a base fee as small as $25 per donated vehicle regardless of its value.
The popularity of car donations for charity is attributable to the tax deductions they offer. However, the GAO found fiscal in 2000 733,000 claims of tax deductions from car donations and the value of claims reached $654m. The total number of tax forms filed that year was 129 million.
The GEO also found around 4,300 charities with annual turnover of around $100,000 had car donation services.
Some of the notable charities accepting car donations include Across the world adoptions, Alabama Council of the Blind, Alzheimer’s Association of Idaho, America's Baby Cancer Foundation, American Melanoma Foundation, American council of the Blind, America's Baby Cancer Foundation, American Melanoma Foundation, Afghans 4 Tomorrow, The Alisa Ann Ruch Burn Foundation, 20th century Automotive Endowment, 4C's of Alameda County, Acres of Diamonds, Alzheimer’s Association of Idaho, The Alisa Ann Ruch Burn Foundation.
There's also the Aldea Children & Family Services, Activities of Retarded Children,Cancer Coping Center, Cancer Control Society, Beth Shalom Program, Bluewater Network,Dorothy's Place, Defending our WildLife, Create Now!, Eastbay Habitat for Humantity car donation service, Alzheimer’s Association of Idaho, Arizona Council of the Blind, Asian Perinatal Advocates, Autism Society of America, Brave Kid.
Broadway on Tour, America's Baby Cancer Foundation, American council of the Blind, American Melanoma Foundation, Animal Friends Rescue Project, CARES Foundation Inc, Cancer Fund of America, Caring for our Children Foundation, Across the world adoptions, Alabama Council of the Blind, Afghans 4 Tomorrow, Aldea Children & Family Services, The Alisa Ann Ruch Burn Foundation, Cancer Coping Center, Cancer Control Society, Beth Shalom Program, Bluewater Network,Waterkeepers Northern California, Utah Council of the Blind, St Vincent de Paul High School and the Marine Forests Society.
To make it short, your options are endless.
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