Please consider donating your vehicle to Family Promise. We will donate the vehicle to one of our clients, who are all in desperate need of safe, reliable transportation. We only accept cars in working condition. Save yourself the trouble of selling your car, and you may receive more value for your car as a donation.
The tax benefit for you: when a taxpayer donates a vehicle for which the claimed value is $500 or more, the precise deduction he can claim will depend on how the charity plans to use the vehicle. If the auto is sold by the nonprofit, the taxpayer will be able to deduct only the amount of gross proceeds from the sale. BUT, if the nonprofit donates the vehicle and does not receive any cash in return, as we do, the donor may deduct the fair market value of the vehicle.
Family Promise accepts vehicles from a donor and then regifts it, at no cost to the recipient and in this way, the donor will receive the fair market value deduction.
For more information on the tax implication regarding vehicle donations, go to the IRS website at http://www.irs.gov
Please consider donating your car to a Family Promise family – you will be making a great contribution to a member of your own community! If you have questions about how this donation program works, please contact us at 908-782-2490.