Is Donating My Yacht to Ocean Grants Right for Me?

Obviously, it depends on your circumstances, but:

Probably if:

  • your yacht has been on the market for 3 months or longer

  • your yacht is possibly overpriced

  • your yacht has been upgraded and you’re hoping to recoup your investment

  • you have substantial income and can use a healthy tax deduction

Definitely if: 

  • you believe in improving Ocean health for future generations

  • you want to walk away from the expense and hassle of owning/selling your yacht

If your yacht has been on the market for awhile, you undoubtedly understand that yachts can take several months to even years to sell depending on their size and condition.  Meanwhile, you’re stuck paying dockage, fuel, insurance, interest, maintenance/repairs, crew and administration expenses not to mention lost opportunity costs.

 Have you added up your costs and multiplied them times a realistic number of months it may take to get a buyer? 

 The benefits of donating your yacht to Ocean Grants are:

  • immediate freedom from the expense and headaches of maintaining your yacht

  • a sizable tax deduction which translates into big savings

  • the satisfaction of knowing your donation will improve Ocean health

Most yachts do not get better or more valuable with the passage of time. Is it time to take action and move forward?

 

Disclaimer Legal Notice: None of the information on this website should be construed as legal or financial advice; any owner considering donating their vessel should consult in advance with their tax professional. Not all yachts will be accepted by Ocean Grants as not all yachts will be a good fit for our programs.  Viewers of this website acknowledge that the use of this website does not constitute an attempt by Ocean Grants to solicit donations in any state where such solicitations are restricted by state statutes.