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.
Benefits of Donating Your Boat to MMA
The Tax Benefits
MMA 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.
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.
You can be assured that your contribution will immediately and significantly impact the education of hundreds of young women and men.
If MMA 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 MMA 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.
Since 1891, Massachusetts Maritime Academy has been preparing young men and women for exciting and rewarding careers on land and sea. In addition to preeminent academics, the regimented lifestyle of the MMA campus focuses on leadership training and discipline. Not only do our students routinely rank as the best trained and educated among their peers, but are renowned as leaders and role models in the maritime industry.
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.