With more than 15,000 lakes, it’s no surprise that Wisconsin is in the top five states for per-capita boat ownership. Owning a boat can be a great experience, but the costs of storing, maintaining, and insuring a boat sometimes outweigh the benefits of boat life. When it’s time to part ways with your boat, you have two options: Sell it, or donate it. Boats—just like cars—lose value over time, so it might not be worth the effort to sell them. But is donating a boat worth it? This post breaks down the benefits of donating a boat to charity, the steps in the donation process, and how donated boats support essential programs for young people in Wisconsin. Financial Benefits of Donating a Boat There are a few ways boat donations can have a positive impact on finances: Tax benefits One of the most compelling reasons to consider donating your boat is the tax benefits. The IRS allows taxpayers to claim a charitable deduction for the fair market value of their boat donation, or the sales price, if the charity sells the donated boat. (The same rule applies to car donations). If the value of your boat is $500 or less, you can claim only the fair market value as a deduction. If the value of your boat is $500 or more, you can claim the lesser amount of the boat’s value and the sales price. So, for example: Your boat’s fair value is $750 The charity sells your boat for $700 You claim a deduction of $700 on your taxes If the value of your boat is $5,000 or more, you’ll need an independent appraisal to confirm the value. A tax deduction reduces taxable income, and in some cases can put donors in a lower tax bracket, which further enhances the benefits of boat donation. Cost Savings Owning a boat involves various expenses, including maintenance, insurance, and storage fees. If you’re looking for ways to save money, donating your boat to charity is an easy way to eliminate non-essential expenses. Convenience Aside from costs, there are other reasons you might want to donate your boat. If you’re moving across the country, or even downsizing from a home to an apartment, taking your boat with you might not be an option. When you donate a boat to charity, all you need to do is load it onto a working trailer, and the charity will tow it away. It’s a convenient option for busy people who need to unload a boat quickly. Emotional and Personal Satisfaction Donating a boat to charity and supporting a worthy cause can bring a deep sense of emotional and personal satisfaction. Making a difference Selling a boat is just a transaction. Donating a boat is a meaningful experience. When you donate a boat to charity, you’re making a difference for others. For example, Rawhide’s boat donation program sells donated boats to fund important programs for troubled youth in Wisconsin. With intervention and support, troubled youth often lead fulfilling lives as adults, as parents, and as mentors. So, the impact of a single donation can have a positive impact not just on Rawhide program participants, but on entire communities—for generations. How Rawhide Youth Services Uses Boat Donations Rawhide Youth Services cleans and inspects donated boats and sells them at auction. The proceeds from those sales fund essential programs for at-risk teens. Residential services Boat donations help support Rawhide’s residential services for troubled youth. These services include campus-based, family-oriented group home programs designed to create lasting change through relationship-based treatment and life skills development. The proceeds from boat donations also help provide a safe and supportive environment for at-risk youth, offering them the stability and care they need to thrive. By supporting these residential services, your donation helps create a positive and nurturing space where young people can grow and heal. Youth counseling and therapy Funds from boat donations also support Rawhide’s youth counseling and therapy programs. These programs offer specialized counseling services, including equine therapy, which is beneficial for teens experiencing trauma. By including horses as part of therapy, Rawhide counselors can build trust with teens and help them feel more comfortable talking about tough issues. Rawhide also relies on donations to fund school-based therapy at more than 40 schools throughout Wisconsin. With demand increasing for teen mental wellness resources, this Rawhide program fulfills a critical need by expanding access to counseling. Starr Academy Starr Academy, Rawhide’s accredited on-site school, also receives support from boat donation funds. This school offers individualized educational support to help students recover credits and build confidence in the classroom. Licensed teachers develop an Individualized Learning Plan (ILP) for each new student, and students learn in classrooms with a ratio of two staff members for every 10 students. This level of personalized care and support can help students cope with challenges such as learning disabilities, behavioral disorders, and other disabilities. Donating a Boat to Rawhide: How it Works Donating a boat is a straightforward process that typically involves the following steps: Assess the value of your boat. Contact Rawhide and provide details about the boat, such as its make, model, and condition. Rawhide contacts you to schedule a pickup or drop-off. Rawhide sends you a tax receipt for your donation, or after your boat sells. Determining fair market value The fair market value of your boat is a key factor in determining what you can claim as a tax deduction you can claim. Rawhide does not offer appraisal services, but J.D. Power offers online value assessments. Keep in mind that J.D. Power also buys boats, so it may be best to consult a few independent sources about the value of your boat. The Society of Accredited Marine Surveyors offers a directory of professional marine surveyors, searchable by state and specific watercraft type. Completing the paperwork Boat donation requires some paperwork, such as transferring the title, or filling out IRS Form 8283. This might be the most intimidating part of the donation process—but Rawhide has been accepting vehicle donations for years and can walk you through what paperwork or forms you need to complete for your boat donation. We’re also happy to answer your questions about boat donations. Receiving your tax receipt After the title transfer and donation processing, you’ll receive a tax receipt. If your boat’s value is more than $500, we’ll send the receipt after the sale, and it will include the actual sale price. You’ll need the receipt to claim your deductions. You Can Make a Difference So, is donating a boat worth it? We think so. And there are plenty of other ways you can make a difference for Wisconsin youth. Choose how you want to support teens on their quest to become healthy and happy adults. Share: Please enable JavaScript to view the comments powered by Disqus.