The Advantages of Boat Donation
Thank you for considering donating your boat! Your generous gift will help provide children and adults with marine educational opportunities, such as boat building, sail training, marine sciences, fisheries science and environmental studies.
A charitable tax deduction is a distinct advantage for boat owners attempting to sell their boats for several reasons.
- Boats on the market for more than 45 days begin to lose value.
- The expenses of storage, maintenance, insurance, brokerage fees and possible expensive repairs continue when a boat is listed for sale. Upon donation, all costs to the donor cease and immediately become the responsibility of Block Island Maritime Funding (BIMF).
- In some cases, the return on a charitable contribution of a boat can be close to the actual selling price, particularly in a weak market.
- Boat donors have the option of selecting from a number of our client charities to which they can allocate the proceeds of their boat donation.