Boat Conditions

MMA has a constant need for a broad range of small boats, yachts, tugboats, ships, and other vehicles, such as cranes.  Please do not hesitate to ask if your donation might qualify under "Signification Intervening Use" or "Material Improvements".  Massachusetts Maritime Academy is recognized by the IRS as a Public Charitable Organization and, as such, donations made to us are fully deductible by the donor.

Significant Intervening Use

Vessels and vehicles that are donated under “Significant Intervening Use” are used for Marine Transportation Training, Ocean Racing, Cruising Club, Varsity Inter-Collegiate Racing, Sportfish Club, and Fundraising here at the Academy.   The vessel must contribute to MMA's “Waterfront Activities” to qualify for a deduction based on fair market appraisal.  The vessel will be in our SIU program for three years and we document all cadet use of the boat. 

Material Improvements

Vessels and vehicles that are donated under "Material Improvements" are those that require a major repair or improvement that results in a significant increase in value. Cleaning, minor repairs, and routine maintenance are not material improvements.  Depending on their impact on the vessel's value, major hull repairs, installation of global positioning systems, replacement of aged waste-collection systems with green heads and updated storage tanks, and the rewiring of an entire vessel are examples of potential material improvements.

Should Mass Maritime consider your yacht or boat for the Significantly Related Use or Material Improvement program, you would need to have a survey of the vessel completed.   Once the appraised value of the boat has been determined, MMA will take over the boat in its entirety and the donor will receive a tax deduction based on either the vessel's "cost basis" or "fair market value", whichever is less.