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Sailing School |  Racing on the Lake |  J/80 Fleet 1

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Donating Your Boat

When you donate your boat to the LWSA, you'll receive a tax write-off for the boat’s full, fair-market value and you'll be helping support an important program for young people.

Why Donate?

You will save:

  • The hassle of showing and selling your boat
  • Storage or moorage costs
  • Insurance
  • Mechanical upkeep
  • Unnecessary repairs for sale purposes
  • Advertising expenses
  • Brokerage fees
  • And more ...

We will take over all your headaches the moment the donation is made.

Tax Considerations

Is my donation tax deductible?
YES.
What are the requirements for claiming my donation as a tax deduction?
The IRS requires that the charity you donate to must be a registered 501(c)(3) organization. The LWSA is an IRS registered 501(c)(3) nonprofit.
How do I determine the value of my deduction?
The IRS allows you to deduct for your boat donation the actual market-value of your boat and other equipment donated. There are rules that apply to this process however. In particular, your charitable deduction is usually limited to the lesser of the fair-market value of your donation (at the time of donation) and the gross proceeds we receive when we sell your boat.
Please contact us and we will gladly discuss the process with you and how donating your boat with us is financially beneficial. Please call603-589-1177or email .
Where can I learn more?
IRS Publication 4303 will answer all your questions. You may download it at http://www.irs.gov/pub/irs-pdf/p4303.pdf

The Donation Process

  1. Contact us to discuss your donation
  2. We will provide you with the needed paperwork, including a Deed of Gift and an IRS form which you will need for tax purposes.
  3. If your boat is valued at over $5000 an appraisal will be needed. We can help you find a qualified appraiser.
  4. Complete and send us the Deed of Gift. Once it is received, we will take over all the responsibilities and worries of ownership.

A donation can be completed in a matter of days. We will work with you in every way possible to make the transaction a smooth and pleasant experience.

Motorboats, sailboats, personal watercraft, outboard motors and trailers are all accepted as donations.

How to Begin?

To further explore how you can benefit from donating your boat or property to the LWSA, please call us at603-589-1177or email us at .