Donating your boat to the Downtown Sailing Center (DSC) is a great way to support our programming. And, because the DSC is recognized by the IRS as a 501(c)(3) nonprofit organization, donations are deductible.
Boats donated to the DSC are typically used in our programs for a minimum of three years may meet the IRS’s requirement for “significant intervening use”. This use is carefully documented to protect the donor as well as the DSC. While the boat is in use at the DSC, it will be maintained and improved by our volunteers.
The second option, if we cannot take the donation for our programs, is to donate to the DSC knowing that we will immediately place your boat for sale. Due to IRS requirements, the donor may only declare the actual sale price as the donation amount. We are required to report this sales price information to both you and the IRS.
It may be helpful to understand our donation process, which can be completed in as little as two weeks:
Typically, the DSC accepts sailboats that can be put directly into service in our programs, with few necessary repairs. We also are in need of small powerboats. However, we may accept donations of other boats if they suit our needs. Currently, we are open to boat donations of:
- When you contact us, we will gather information about the boat. It is helpful to have photos and as much information about the boat as possible.
- Our committee will review the information and decide if the boat will meet the requirements of our programs.
- Assuming the committee wants to move forward, we will schedule a preliminary inspection of the boat by committee members, to determine overall condition and suitability.
- Upon successful inspection, we will schedule a certified marine surveyor to complete a full appraisal of the boat.
- If you are satisfied with the appraised fair market value, we will move forward with the acceptance of the donation.
- The donor signs the title or USCG Certificate of Documentation over to the DSC.
- The DSC provides a letter of acknowledgement, a completed copy of IRS form 1098-C (indicating “significant intervening use” of the boat for a minimum of three years) and a copy of our IRS status letter.
- The DSC completes the transfer of ownership with MD DNR or USCG as appropriate.
- J22s
- Sonars
- Small power boats
- Cruising boats, 30'-40', 1990 and newer, with inboard auxiliary diesel engines
- a suitable race committee boat
If you want to support the DSC’s mission through the donation of your boat, please email john@downtownsailing.org or call the office at 410.727.0722
* IRS publication 4303 provides full details. Please consult a tax professional to determine your allowable deduction.