Yacht Donations

Thank you for learning more about donating your yacht to the Ocean Grants Foundation! Your generous gift will increase the funding we can provide to our recommended organizations which will accelerate help for our Ocean.  And, your contribution can immediately eliminate your ownership costs and reduce your income tax burden.  It’s definitely a win/win! 

We make the donation process easy for you, from walking you through the paperwork to picking up the yacht. Here are the steps:

• Decide donating your yacht makes sense for you. 

• Get a qualified appraisal of the yacht’s fair market value from a marine surveyor.

• This appraised value will be the amount you can deduct on your federal tax return in the year in which the yacht is donated.

• You can deduct a percentage of your adjusted gross income as a charitable deduction on your federal tax return. If the entire appraised amount cannot be utilized in the year in which the yacht is donated, you may be able to carry forward the balance for 5 years.  

• Your state may also recognize the charitable contribution of yachts and allow deductions for such donations.  Check with your local tax professional as this varies state by state.

• We will provide to you a Deed of Gift and IRS forms 1098C and 8283 which will indicate whether Ocean Grants Foundation will make material improvements and/or have a significant intervening use for the vessel.  Ocean Grants Foundation will properly log any use of the vessel and will fully comply with all IRS guidelines.

• When we receive the signed Deed of Gift, ownership of the vessel will transfer to Ocean Grants Foundation at which point all responsibility for the vessel and all related expenses (storage, transportation, maintenance, insurance, repairs and brokers fees) transfer to Ocean Grants Foundation.