Cal Poly Maritime Academy Yacht Donation Program

Yacht Donation

• Is my yacht right for a charitable donation?
  • Donated boats must be  seaworthy and operational. If you have any concerns, please fill out the form or contact us to discuss in detail.
• How does the donation process work?
  • Contact Cal Poly Maritime Academy Foundation by either using the form here or email us at vesseldonation@csum.edu and set up a time to discuss your donation.
  • Schedule an appraisal of your boat with a qualified third party surveyor. The survey must be within 60 days of the donation date to be valid for tax purposes. Discuss the valuation and available deduction with your tax advisor.
  • Our team will walk you through the paperwork, fill out the forms and answer all questions throughout the process.
  • Cal Poly Maritime Academy will take ownership of the boat and all assume all costs and logistics immediately.
• What is included when I donate my yacht?
  • Whatever is included in the appraisal value should convey with the boat. This would include electronics, safety gear, dinghys, sails and extra gear if listed on the valuation survey.
• Why not just sell my yacht myself?
  • Boats lose value the longer they are listed for sale.
  • You are immediately relieved of all upkeep costs and free to move on to your next boat or interest.
  • Your gift is tax deductible to the extent allowable by law. Please consult your adviser to understand how this affects your circumstance.
  • You are supporting Cal Poly Maritime Academy Foundation in providing the best experiential learning for all cadets.
• Where do I find a “qualified” third party surveyor and who pays for the valuation?
  • The donor is responsible for the valuation of the boat.
  • Valuation survey costs should run between $20 and $30 per foot of boat length.
  • Links to organizations that provide these services can be found here:
    • NAMS – National Association of Marine Surveyors
    • SAMS – Society of Accredited Marine Surveyors
    • ABYC – American Boat & Yacht Council
  • Local surveyors can also be found on the internet. Try searching: “marine valuation survey YOUR CITY”
• How is the value of my donation determined?
  • An appraisal by a qualified third party surveyor is critical to determine the value of your boat for donation. This appraisal takes into account the condition of the vessel, comparative values of similar vessels and improvements made by the owner. For vessels over $5,000 the appraisal must made within 60 days of the transfer of the vessel to the charity.
• How long does the process take and when do I turn over responsibility for the yacht?
  • A donation can be implemented in a few days or few weeks depending on the availability of appraisers and any inspectors necessary to complete the process. Once complete, all costs associated with the vessel are assumed by Cal Poly Maritime Academy Foundation.
• How do I get a charitable tax deduction?
  • When a boat is appraised and donated, the owner may receive the full appraised value as a charitable tax deduction. If the entire appraised amount cannot be used in the first year, under IRS rules, the balance may be carried forward for 5 years.   Your gift is tax deductible to the extent allowable by law. Please consult your adviser to understand how this affects your circumstance.