Facts to Know Before Donating Your Car to Charity!
Many individuals want to donate their car that is non-functional or unwanted. The root intent behind giving the car away may be a noble cause, tax deduction, or avoiding the procedure of selling or recycling. Whatever the reason is, the car owners must check some facts before donating their cars to charitable organisations, as many cases of forgery and falsification of such institutions have been reported in the past.
The so-called charity organisations either fake their charitable identity or do not pass on the entire received amount to the needy. Thus, you must take precautionary steps before handing over their car to justify your intention. Find below some facts that you must take care of as a prerequisite to donate a car to charity:
- The charitable institution you are planning to contact must be affiliated with a 501 (c)(3) non-profit status as per the Internal Revenue Service (IRS). This confirmation is required to check if the firm is not making any profit out of your donation.
- Conduct proper research about the organisation regarding their records and reviews from all possible sources, online and offline, and then donate a car to charity.
- Never proceed with an institution that does not allow ownership transfer, as you will remain liable for the accidents or tickets concerning the vehicle.
- If the car is in a condition that you can drive, you should self-drive it to the organisation’s site. This way, you can verify their authenticity and physically inspect the location before.
- If you want to donate a car to charity solely for getting a considerable deduction in paying your tax, please go through the respective section of the IRS’s guide to know in detail about the eligibility and other criteria.
- After performing the required checks, you must take a receipt from the institution. Also, record proper documentation, including signatures on the vehicle’s transfer form and photographs, for future reference.
Some dedicated firms in the industry can help you donate your car for charity in a smooth and hassle-free manner. Avail services from a reputed company for the best experience!
About the Author:
This article written by John, manager at Scrap Car Removal GTA is Ontario’s top auto recycling company found in the year 1995. They aim to provide a platform for recycling cars in exchange for cash or an option to donate their car. They are an expert service including junk car removal, extraction and vehicle disposal.