Recently, charitable institutions have been trying their hardest to encourage the public to make contributions. The financial downturn has hit them hard, and they need to do everything they can to get the funding they desperately need. The main focus of charities recently has been vehicle donation. Famous charitable institutions such as The American Red Cross and the Goodwill Industries now realize that their income significantly increases because of more individuals and small businesses contributing big donations like vehicle donation. With this in mind, these institutions are now trying to create greater awareness about the benefits of an auto donation.
Today, charitable institutions are looking at the bigger picture. They are trying to tell people they don’t necessarily have just to donate a car to make a difference. Charitable institutions accept all sorts of large donations. They are very capable of flipping those large items to unlock the money they need to make a difference. I might think twice before donating my car in the current economic climate, but there are plenty of other items, of varying values, in and around my house, that I would be happy to donate to a charity. This is exactly what major charities are hoping to capitalize on.
The charitable institutions are mainly looking for boats, motors, trailers and other similar items. Their reasons for accepting such items as these are very simple. When charities sell the items they can at times, receive a higher price than you might do. There are also advantages for those making the donation. Donating a boat, trailer or something on the same lines will entitle you to the same type of tax exemption that you would have got by donating a car or any other vehicle.
The rules governing these tax breaks are the same as with most donations. You will need to inform the government that you have made the donation and record the value of the item donated on your tax form.
This is a win-win scenario for you as well as the charities. With the help of your donation charities can continue their good work and you, on the other hand, can enjoy a small tax reduction by donating an item that you do not want.
Are you a philanthropist looking for ways to give back to your community? Visit http://www.charitydispatch.com to learn more about how you can do just that by donating your vehicle for good cause.