MANTA’s boat donation program offers the donor the maximum amount of peace of mind and financial incentive with minimum amount of effort!
Here are the simple steps for donating your boat:
1) Contact MANTA: Call or email MANTA to discuss whether your vessel is appropriate for a tax deductible donation to our organization. We will need details about the make, model, year, and condition of your boat, as well as photos or an on-site visit.
2) Obtain a marine survey: If your vessel is accepted for donation, you need to order an official marine survey. This will determine the value of your boat, which establishes the dollar amount you can claim as a tax deduction on this years’ taxes. This survey value may be more realistic and generous than the artificially depressed conditions created by the whims of a volatile market. This donation value can reduce your adjusted gross income by up to 50%. If you decide to donate your boat to MANTA, you will be reimbursed for the full cost of the marine survey
3) Decide if a donation is right for you: Use the MANTA Boat Donation vs Sale Scenario Analyzer to evaluate your situation. Consult your tax accountant to discuss any special tax circumstances that you may have. Weigh the difference in the dollars and cents, and consider the tremendous impact your donation will have on marine conservation and education.
4) Execute the transaction: MANTA and our tax professionals will prepare all of the necessary paperwork, including title, registration, insurance, and IRS documentation. We will also bear all of the costs associated with processing and executing these forms. You only need to provide some basic documents about your vessel, and review these forms with your own tax accountant.
5) Enjoy your freedom: It is often said that the two happiest days of owning a boat are the day you buy it, and day you get rid of it. So enjoy the second happiest day of owning your boat. MANTA will take responsibility for delivering the boat to its new destination. To guarantee the terms of this transaction, the donation will be accompanied by a contract between MANTA and the donor. This contract states that MANTA will take no action that compromises the value of your tax deduction that was established by the marine survey.
Talk with your tax accountant and discuss whether this option is right for you. If you are considering donating your yacht, choosing MANTA supports a reputable organization dedicated to research and conservation of the oceans we love, and the education and improvement of our youth, and is the best way to protect your legal and financial interests. Please call or e-mail if you have questions or would like more details about the yacht donation process or MANTA’s mission, activities, and qualified staff.