Staying Faithful: Old car becomes generous donation

One morning, after years of faithfully toting their family around, Betsy and Bill’s car refused to start. With the forlorn SUV sitting in the driveway, they prepared themselves for the time-consuming process of having it towed, repaired, and sold. Then, a light bulb moment: they would donate it to Peninsula Family Service through Cars with Heart.

The process couldn’t have been simpler. They filled out a form on Peninsula Family Service’s website, scheduled a pick-up appointment, and the vehicle was towed in a couple of days—the paperwork already completed to turn the much-loved SUV into a generous gift.

New or used, running or in need of repairs, countless vehicles—trucks, cars, boats, motorcycles, RVs and motorhomes—qualify. Donors with vehicles valued at less than $500 can deduct that value from their taxes. For vehicles worth more than $500, Cars with Heart will provide an IRS form 1098-C, listing the tax-deductible sales amount of the vehicle.

Questions? Contact Rachel Monaco, Annual Giving Manager, at rmonaco@peninsulafamilyservice.org or 650.403.4300 ext. 4417. As always, consult with your own advisor when considering tax-deductions.

 

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