For over 100 years, Massachusetts Maritime Academy has been preparing women and men for exciting and rewarding careers on land and sea. As the nation's finest co-ed maritime college, MMA challenges students to succeed by balancing a unique regimented lifestyle with a typical four-year college environment. As a member of the cadet corps you will live, study, sail, work and play in an atmosphere that encourages you to be your best.
SEND YOUR BOAT TO SCHOOL Massachusetts Maritime Academy seeks sail and power vessels for use in ocean racing, intercollegiate sailing and sail training at the Academy.
On selected vessels, the Academy can accept a charitable contribution for "significant intervening use" or "material improvement". This allows the donor to take a deduction based on the "Cost Basis" or the "Fair Market Value" of the vessel, whichever is less. A marine surveyor or appraiser must be hired to affix the value to the gift. We will "certify the use of the donation" in an acknowledgement letter for use of the vessel in our numerous waterfront activities.
Boats we cannot certify are still very welcome. They are marketed through our very popular Sealed Bid Boat Sale that is held the weekend before Thanksgiving every year. Funds derived from these sales support a myriad of educational scholarships, sailing school, waterfront and training programs.
Once you have decided to be free of your boat, you must decide which method is the quickest and most financially rewarding: sale or a donation. In looking at a sale you must take into consideration all of the expenses: dockage, depreciation, insurance, maintenance, storage, repairs, interest, and sales commission are just a few. After you have signed a sale contract and the purchaser surveys the boat you probably will be met with more expenses. There are always unforeseen repair items that need to be corrected after a buyer's marine survey. In most cases, the buyer expects the owner to adjust the sale price down or undertake these repairs before closing. Another problem in trying to sell your boat is the time factor. The time of the year in most areas of the country has a great deal to do with the availability of ready buyers. The cold winter months seem to drive buyers indoors and, therefore, prices down. By donating your boat you avoid all of these costly expenses. There are no sale commissions to pay and the entire transaction is complete in a few days.
Massachusetts Maritime Academy is recognized by the IRS as a public charitable organization and donations are fully deductible.
Donated boats may go directly to the MMA Marine Department to be used for ocean racing, cruising, recreational boating and varsity inter-collegiate racing. Ocean racing activities include participation in the Newport to Bermuda and Marion to Bermuda races. More than 300 cadets participate in sail training and racing activities throughout the year. The program provides a number of different activities for a variety of ability levels, including instruction, recreation, racing and cruising. All activities are available to MMA cadets, faculty and staff as well as the local community. Recent out porting activities included summer sail training programs for numerous inner city scouting and youth groups.
The Marine Department will evaluate each boat's utility to the Academy's program. Donated boats also may be sold by MMA to raise money for the Marine Development Program, funding scholarships or other significant educational programs.
Benefits of Donating Your Boat to MMA
- Yacht and Boat donations are an Excellent opportunity for a tax-deductible gift that benefits the donor and the Academy.
- Eliminates the time, effort and expenses (maintenance, storage, insurance and broker's fees)
- Your income tax deduction is based on fair market value as established by a qualified appraiser.
- Your donation will greatly enhance our Marine Development Program.