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What You Should Know About Donating A Vehicle

by DonaldLewis01

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Making regular donations to a favorite charity is a great way to spread the wealth around. Just a few dollars from you can help organizations make the world a better place. Most charitable donations can be deducted from your taxes when you file an itemized form, so everyone comes out ahead. The truth is that someone wishing to donate a car in Oregonshould know a few facts about this particular form of charitable giving.

Vehicles have become a very sought-after form of donation by many non-profit organizations. Many vehicles that aren’t road-worthy or that have become too expensive for their owners to upkeep still be valuable in terms of the parts and materials the car contains. These materials have considerable value to parts dealers and scrap metal salvage agencies. These agencies will partner with middle-man organizations who are in turn partnered with charity groups. The middle-man organization helps the charity group outreach to the community to solicit vehicle donations. Someone wishing to donate a car in Texas will see these signs and then contact the listed phone number. The vehicle is collected by the middle-man organization who then delivers it to the salvage agency. The middle-man organization shares the profit with the charity group.

This system of donation works very well in theory though there is the potential for problems. Some middle-man organizations will share only a very limited amount of the profit with the charity group; other organizations simply make a direct donation to the charity group on a regular basis instead of an amount that is clearly related to the vehicle donations. If this is the case, then a person wishing to donate a car in Texas may not be eligible for a receipt for their donation. This receipt is required if that person is wishing to itemize that donation on their taxes.

Even though a group is engaged in charitable endeavors it may not be a registered non-profit group. This is a special status granted by the IRS; to qualify, an organization must complete an in-depth application process to prove that they are not a for-profit business. Tax exempt non-profit organizations are often referred to as 501 (c) (3) groups. If a charity group is an actual non-profit organization, it can be found listed on the IRS website. Only the amount written on a receipt from one of these groups can be itemized on your taxes in the space for charitable giving. If you want to know more about itemization and charitable donations, speak with a tax preparation specialist.

Vehicle donations are a great way to support a favorite charity group though it will take a little effort on your part to determine whether or not that money is going where you want it to. You should also learn for certain whether you can claim that particular donation. Knowing this will help you decide if you want to donate a car in Oregon.


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