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Auction Boat Charity Shows You How To Set Up A Boat Auction For Your Non ProfitBoat
auctions are a wonderful way to raise hundreds to even thousands of dollars for
your charitable organization. One
successful auction could aid your foundation significantly. Before you get started, though, here are
a few pointers to help you along the way.
The
first thing you’ll need to consider if attempting to develop a fundraising boat
auction is whether or not you have the storage capacity and equipment necessary
to haul and store any donated boats you may receive. Your organization’s members will need to
be able to set up arrangements with the donor to haul the boat from their
property. You’ll also need a place
where you can store the boat until it’s ready to sell at auction. Look around in your community for
storage facilities you can rent for boats, RVs, and other vehicles. You
then need to consider how you’re going to deliver the boats to auction
winners. Keeping your boat auction
local is probably the most manageable way to do this. If you choose to sell to out of state
residents, however, you’ll need to come up with a workable plan for
delivery. Another option is to let
auction participants know that they will have to be responsible for picking up
the boat they’ve won. These factors
should be resolved and clearly stated at your auction in advance. Now,
it’s time to find some donors! You
can set up a website, run ads in papers, boating magazines, or other media, or
solicit boat owners in your area, asking for boat donations. You can also utilize government seizure
auctions where you can purchase boats at their auctions then re-auction them at
higher starting bids. Whatever your
approach, it’s important to explain to potential donors the importance of their
donation and the many advantages they may receive by donating. Giving your boat away is a grand
gesture, so give them the recognition they deserve in supporting your
cause. One
can gain many rewards by donating a boat to a charity. If supporting a worthwhile cause that
can help many, many lives is not enough to convince potential donors to
contribute, then let them know about the practical advantages that also come
along with the territory. By
donating a boat, you can earn what’s known as a “fair market value tax
deduction”, which can sometimes be far greater than what you would be able to
sell the boat for on your own. All
it takes is a little paperwork and time for them to receive some wonderful tax
benefits they can apply on their next return. For
more information, check out the IRS website at www.irs.gov and review the
following publications:
In
addition, boats are not exactly inexpensive to maintain. Insurance, dock rental, upkeep, and
other expenses can become a burden after time. Some boat owners may no longer be able
to afford these expenses. Give them
good reasons to consider these factors and others and see where it leads
them. What
about paperwork? You may be
wondering what, exactly, you need to do to make the boat donation legal and
official. First of all, it’s best
that you set up a pre-made form that the boat owner can fill out regarding their
donation. This will save you both
some time and make the process more organized. Research “boat donations” online to
check out different non profits that accept boat donations and look at their
forms so you can get an idea of what information you’ll need to put on
yours. Next,
you’ll need to assess the boat’s condition and arrange for pick up. You also
need to create a donor’s receipt to give to your supporter once you receive the
title. Remove the boat from their
property and get it prepped for auction. You’ll
also need to establish a place where you can host your boat auctions. If you can’t afford to rent a space to
do to them locally, you can host your auction online. At Charitable-auctions.com, your
not-for-profit organization can sign up free and utilize our
IdonateToCharity.org auction website with no listing fees! This is a perfect, user friendly venue,
providing a variety of useful resources, that can help you create successful
charity boat auctions to support your institution. Once
your auction is over, you’ve received payment, and delivered the boat to the
auction winner, you’ll then need to send the person who donated the boat a copy
of the bill of sale, along with the required, appropriate IRS forms that they
will need to file with their tax return. Make sure you keep accurate
records, too, for your organization’s tax purposes. Remember
to have fun with your boat auction event!
Get people involved and excited and thank them for their valuable time
and support. For more information click here!
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