Yacht & Boat Donation Program

Donated Vessels
 

For more than thirty years, the Academy has accepted vessels donated for significant intervening use, material improvements, or to sell to raise money for programs and scholarships. Your donation supports this education. Whether it be the cash influx that comes from the sale of a boat or the experience a cadet gains at the helm of a donated tug or sailing yacht, you can be assured that your donation will positively impact the preparedness and heightened skills of countless Massachusetts Maritime Academy cadets.

 

Sam Vineyard                                                                  Meredith Randall

svineyard@maritime.edu                                          mrandall@maritime.edu

(508) 830-5069                                                                  (508) 830-6423

 

Donate Your Boat  Make a Payment

Available Vessels  

 
 
 

If the Academy chooses to keep your boat

  1.   We will assess the vessel and designate a "Material Improvement" and/or "Significant Intervening Use."
  2.  You will have the vessel appraised.
  3. Our staff will undertake the process of exchanging title and IRS information with you.
  4. We will transport the vessel.

If the Academy takes your boat to sell

Our staff will undertake the process of exchanging title and IRS information with you and we will arrange transport.  Within thirty days of the vessel's sale, we will send you IRS Form 1098-C, acknowledging the amount of your deduction.

It’s that easy.

The Tax Benefits

The Academy is qualified by the IRS as a charitable organization.  Donated items fall into one of two categories: (1) those we keep to improve and/or use, and (2) those we sell - a determination made at the start of the donation process.  Generally speaking, if MMA accepts your boat for "Material Improvement" or "Significant Intervening Use," you qualify to receive a tax deduction equal to the lesser of its “cost basis” or “current market value,” as determined by the qualified marine surveyor you retain.  If MMA accepts your boat to sell, you qualify for a deduction equal to the amount for which it is sold.

cadets wearing life jackets

cadets on the training ship

Financial Freedom

By donating your vessel, you are immediately unchained from the expenses of boat ownership: storage costs, maintenance fees, insurance premiums, etc...  If your vessel is listed with a broker, we take responsibility for paying their fee.

Philanthropic Satisfaction

You can be assured that your contribution will immediately and significantly impact the education of hundreds of young women and men.