Question: Vehicle donation to PTO
We have a neighbor who wants to donate his vehicle to a charity. He is willing to donate it to our PTO (we have 501(c)3 status. Is this something we can do? Has anyone done it? Do we go thru a third party or can we do it ourselves? Any direction would be greatly appreciated.
Asked by firstname.lastname@example.org
Advice from PTO TodayCraig writes:
I don't know of any groups that have done this, but if your group is 501(c)(3), you definitely can under IRS rules. (I'm not sure if any states have regulations against it.) Their are third parties that run car donation programs for charities, but I doubt they would handle a one-off like this. In your case you would accept the donation, then sell the car to a wholesaler. A local car dealer should be able to help you make the right contacts. The person who donated would be allowed to deduct the amount that you receive for the car, I believe. You should do a little research before deciding to accept the car. You want to know how difficult it will be to sell and how much you're likely to get for it to make sure the effort will be worthwhile.
Community Adviceturner.email@example.com writes:
Thank you. I'll see if it's something we want to get involved in.
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