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I am considering donating my 15 YO Camry ('95 Toyota Camry) to charity. It does not run well and it has about 150,000 miles on it. Blue Book value is around $1000. I'm looking at either St. Vincent de Paul Society or Military Order of the Purple Heart. I don't really care about the tax consequences of the transaction as I no longer itemize my federal income tax and I think that's the only way to reap any personal financial benefit.
I am happy to donate the car to either organization and hope that they can revitalize it and give it to a family that can squeeze a few more months/years out if it or sell it for junk and use the funds to help others.
Do any of you folks have experience in donating an automobile to an organization like this. Any recommendations? Any negatives?
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Thanks for that article cheapncheerful, it was a real eye opener*. I'll do a bit more research before I make the donation thanks to you.
*Especially this part~
"Numerous for-profit intermediary organizations advertise aggressively on TV, billboards and elsewhere, offering to help you donate your vehicle to charity. Here’s the catch: These organizations typically keep about 50 percent to 90 percent of the vehicle’s value for themselves"
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50% to 90%?? That's daylight robbery. That was an eye-opener indeed. How mean do you have to be to take money out of a charity's pockets by taking a commission like that? That's just wrong. And all those people are donating in good faith too.
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National Public Radio (NPR) takes cars. I trust them!
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UPDATE~ I finally got around to donating the car to the Society of St Vincent de Paul. What happens is that I signed to title over to them and guy with a tow truck (mine has starting issues) comes by and hauls it away. I am advised that the "Auction Barn" will sell it and the proceeds (less tow cost and their fee) will be sent to the charity. I will get an IRS form that indicates how much I can claim on taxes if I so desire.
I have to admit that if "cash for clunkers" was still in effect I may have purchased a new car and got the $4000 IRS credit for my clunker.
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Ah but micharch, you wouldn't have had such a good feeling in your heart about cash for clunkers. :) I bet they were thrilled to get it. I'm happy to hear the process was a smooth ride!
We're needing to buy a new car soon. I may just find out about that for us too.
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And this is exactly why you have to be very cautious. Shame on her!
The mastermind of a sham charity has admitted pocketing more than $2 million in vehicular donations meant to help disabled children, New York Attorney General Andrew Cuomo announced.
Shoba Bakhsh, of Queens-based "Hope for the Disabled Kids, Inc.," was arrested and pled guilty to charges she lied to donors and misused funds for herself and her family. The action marked the latest round the Attorney General's ongoing investigation into car donation charities.Hope for the Disabled Kids, which has been shut down, accepted thousands of cars and generated more than $2 million in revenue between 2001 and 2009. Bakhsh promised donors that more than 90% of all donations would go directly toward helping disabled children. But no funds solicited between 2007 and 2009 were used for any legitimate charitable purposes, and Bakhsh destroyed all records prior to 2007and filed false paperwork.
Continue reading
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What a low life, pennywise. I'm disgusted.
UPDATE~ I finally got around to donating the car to the Society of St Vincent de Paul. What happens is that I signed to title over to them and guy with a tow truck (mine has starting issues) comes by and hauls it away. I am advised that the "Auction Barn" will sell it and the proceeds (less tow cost and their fee) will be sent to the charity. I will get an IRS form that indicates how much I can claim on taxes if I so desire.
I have to admit that if "cash for clunkers" was still in effect I may have purchased a new car and got the $4000 IRS credit for my clunker.
You're a good hearted man. :) I hope it catches the eye of a generous bidder.
I've never done that and wouldn't know how to go about it. That'e very generous of you, micharch! This MSNBC article gives tips and pitfalls. Hope that helps. It is from 2008 so some things may be different.
The only reason a great many American families don't own an elephant is that they have never been offered an elephant for a dollar down and easy weekly payments. - Mad Magazine.