Boat Donations Make Perfect Year-End Tax Deduction

With 2016 rapidly coming to a close, many boat owners may be looking for ways to decrease their annual tax bill.

An easy way to do this is through charitable donations, and while many may already give to various charitable causes, an easy way that they may have overlooked is with a boat donation. 

There are many rewards to donating to charitable causes beyond the tax benefits, including giving back to the community, preserving your legacy and supporting your personal values. 

So if you have a boat for sale or that you’re considering selling, make sure you consider donating it to charity instead. If you are considering donating a boat, avoid using an intermediary if possible, do your research on reputable charities that are equipped for a boat donation, consider how the boat will be delivered, keep detailed records of the donation transaction and be sure to consult a certified professional accountant or financial advisor. 

One example of a local institution greatly in need of boat donations is Nova Southeastern University. NSU’s Halmos College of Natural Sciences and Oceanography focuses on scientific breakthroughs and innovative solutions to challenges facing our oceans. 

With support, NSU can involve its students in the research discovery process and prepare students for success in many marine-related fields.

However, NSU’s research fleet is more than 25 years old and in poor condition. All of its vessels need new power, and the cost of replacing power in these boats is prohibitive given their old age. The college’s most immediate need is a donation(s) of two small vessels.

NSU is seeking two reliable research vessels/dive boats (approximately 26-30’) that can each carry six divers and 18 tanks. The vessels ideally would be be twin engine (outboards or in-board diesel) and easy to pilot since our boat drivers are students who are competent but not highly experienced. One of these boats ideally needs a cabin to support operations that require dry space.

Each vessel will average more than 120 days of use per year. They will support dozens of research projects involving many of the university’s researchers and students. The boats will provide the opportunity to conduct field operations offshore Southeast Florida in order to support local, state and federal management, as well as conservation and and understanding of our marine resources.

In order to continue this important research and education mission, two new (or very gently used vessels) are required. Some examples of boats that will work include the Worldcat 32, Parker 28, Newton 31, Island Hopper 30 and May-Craft 27, among many others.

Details about the boats that are needed can be found here.

For more information or to make your donation, please contact Wendy Wood-Derrer, director of development at the Halmos College of Natural Sciences and Oceanography, at wendyw@nova.edu or (954) 262-3617, or Dr. Richard Dodge, dean of the Halmos College of Natural Sciences and Oceanography, at dodge@nova.edu or (954) 262-3651.