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Tax Law Car Donate Article
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Car Donations Program
from: Dave Markel
Non-Government Organizations are working on no-profit basis as a part of social services. These organizations work with an aim of providing help to underprivileged all over the world as well as to assist the people during natural calamities. To undertake their activities these organizations accept the donations from general people apart from the aid they receive from governments.
Car Donation program is one of the tool used to raise funds for various humanitarian activities of these organizations and charitable groups. There are many organizations who accept the vehicles like trucks, boats, cars and even aircraft. Vehicles obtained by these organizations or groups are examined carefully to determine their utility for community needs. You need not to be worry about the model, year of manufacturing, market value and condition of the vehicle he wants to donate. The only condition is that the vehicle he wants to donate must be in usable condition. If the vehicle you donate is not in a condition to use it for community purpose the organization may think of selling it at market value and raise the fund for the cause. In either way your donation is surely used to provide assistance to underprivileged, handicapped and those who are victims of natural calamities. It is an easy way to help the people in their hour of need.
Vehicles donated through car donating programs, provides you some financial benefits apart from the satisfaction that you have fulfilled your moral duty towards the mankind. You get advantage of tax deduction. You also get rid of problem of towing away your old vehicle which is no longer required by you as the organization or charitable group does it for you.
To overcome the possibility of misuse of such donation programs for personal gains, certain rules have been made which are binding to all such programs. These rules give you the idea to a potential donor to confirm the reliability of the program.
• Qualified organizations that receive vehicles in donation must give a written acknowledgement of the donation. However, this rule is applicable only if the claimed value of the vehicle is more that $500. The acknowledgement receipt must include donor’s name, donor’s tax payer identification number and identification or similar number of the vehicle.
• A statement certifying the organization sold the car in an arm’s length transaction between unrelated parties and details of gross proceeds of the sale.
• A statement that the donor’s charitable contribution may not be more than the gross proceeds from the sale and the date of the contribution.
The acknowledgement giving all above details must be provided within 30 days of the sale of the vehicle if the vehicle is sold by the organization.
In view of the preceding paragraphs one requires no emphasis to understand that donated cars are used for humanitarian causes like assisting underprivileged, providing help to people who are victims of natural calamities, people who are facing financial hardships and for solving health related issues.
If you are the one who generously feel that “I must do something for mankind” you must contribute to car donation programs. If you are interested to be a member of group who has donated vehicles you must start searching for an organization or group which works for cause you prefer to assist the needy people. You can search such group or organization on web sites or with the help of local media. If you are determine contact a car donation program and they will happily do towing and complete other documentary formalities for you. So donate your vehicle for a noble cause.
Copyright 2006 Dave Markel
About The Author
Dave Markel operates a blog dedicated to car donations. Visit it at http://car-donation-program.blogspot.com.
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