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CAR DONATIONS - Give away your unwanted automobiles to charities
Car donation refers to the
practice of giving away no-longer-wanted automobiles to charity
organizations. In the United States, charitable donations provide a tax
benefit; as such, this type of giving has become very popular in the
early 21st century. For values less than $5000, the value of the tax
deduction comes from the donor's own estimate of the car's value, even
if the charity receives much less money from actually selling the car
(usually at auction). Non-profit organizations in the US have come
to rely increasingly upon the revenue from car donations.
Many charities run donation
programs. Some have their own car lots which sell the donated cars but
many have their donations processed through auto auction companies. At
least one charity exists which collects and sells donated cars and
distributes the money to whichever charity the donor indicates (CarAngel.org).
This allows car donation income to flow to charities which do not run
their own programs. |