Gracewood generally will accept gifts of new and used vehicles (cars, trucks, vans, tractors, etc.) that are in good condition. Used cars and minivans are often needed by our single moms to get to school, work, or child care.
When the vehicle is used by us or provided to a client, the donor is eligible for a fair market value charitable deduction. Vehicles that cannot be used in any of our programs will be sold and the proceeds used to serve single mothers and their children. In this circumstance, the donor is typically eligible for a charitable deduction equal to the sale price.
There are specific IRS requirements pertaining to donations of tangible items valued at $5,000 or more. Typically these items require an independent appraisal, which is the responsibility of the donor.
For more information about Vehicle Donations, contact us at 713-988-9757.