Donating DVC stay for a fundraiser???

[karebear1]

I have a friend that has an inoperable brain tumor. We are holding a fund raiser for him and his family in the next month or so. I've been thinking about donating a 5 night stay at the BCV's as an auction item. I'm pretty sure it would bring in a bunch of money for them.

I have not actually offered this to anyone yet-I'm trying to look at all the angles before I do. Can you guys point out the pros and cons of doing such? Should I draw up a contract for whomever the winning bidder is? What about doing a ressie in advance and offering a specific time to go so don;t have a scheduling problem with whoever won the bid?

Any pointers you could give me would be greatly appreciated!

THANKS!

 

[Chuck S]

I have a friend that has an inoperable brain tumor. We are holding a fund raiser for him and his family in the next month or so. I've been thinking about donating a 5 night stay at the BCV's as an auction item. I'm pretty sure it would bring in a bunch of money for them.

I have not actually offered this to anyone yet-I'm trying to look at all the angles before I do. Can you guys point out the pros and cons of doing such? Should I draw up a contract for whomever the winning bidder is? What about doing a ressie in advance and offering a specific time to go so don;t have a scheduling problem with whoever won the bid?

Any pointers you could give me would be greatly appreciated!

THANKS!

Offering a pre-booked reservation would be one way, but having specific dates may limit some people from bidding. I would give something like a studio accommodation with a Sunday arrival, Friday departure, and list a specific time period of use, based upon availability (and exclude the highest times point wise.) Also, I wouldn't limit it to BCV, as it may be booked for their times, but other resorts may be available. Make it clear that once the reservation is made and confirmed that no changes or refunds are allowed, even though it is for a good cause, someone may want a refund if they need to cancel.

 

[Dean]

Also be aware it is 100% NOT tax deductible.

 

[karebear1]

It doesn't really matter to me if it's tax deductible or not, but I must admit I did think it would be. Do you know why it wouldn't be deductible?

 

[snowbunny]

It doesn't really matter to me if it's tax deductible or not, but I must admit I did think it would be. Do you know why it wouldn't be deductible?

I think you have to have an organization with 501c(3) nonprofit status for money raised toward a cause to be nontaxable. We looked into it for a booster club.

 

[Dean]

It doesn't really matter to me if it's tax deductible or not, but I must admit I did think it would be. Do you know why it wouldn't be deductible?

You know the IRS. I'm sure the reason is to keep people from "donating" time, claiming high prices and essentially getting a tax deduction that translates into a rental.

 

[DisneyCowgirl]

To be deductible, you have to donate to a charitable organization. A donation to a person or family does not qualify.

 

[tjkraz]

To be deductible, you have to donate to a charitable organization. A donation to a person or family does not qualify.

Even when given to a charitable organization, a single-time use of timeshare accommodations is not tax deductible. You can't even deduct the dues on the points.

The only time it is deductible is when you donate the entire contract / ownership.

 

[karebear1]

Oh well........... I wasn't making the donation for a tax deduction- just to help out a friend that's in real need right now. BUT- I really appreciate everyone's input. I probably would've tried to deduct it from next years taxes- which would've opened a big can of IRS audit whoop you-know-what........... AND THAT WOULD'VE BEEN B-A-D... and smelly!!!

So- I won't claim it on my taxes, but I will still donate the week and the money made from it will go to the Bob Sylvester Cancer Fund. I'm sure his family will find many good uses from that donation.

Thanks for your input!

 

[chepic]

We donate 100 points every year to a charity auction, and I let the winner call me with the dates they would like and I do my best to accomodate...haven't had a problem yet. My accountant told me there was a way to write it off, but I don't remember how, and also I didn't qualify because it didn't sell for that much.

 

[karebear1]

We donate 100 points every year to a charity auction, and I let the winner call me with the dates they would like and I do my best to accomodate...haven't had a problem yet. My accountant told me there was a way to write it off, but I don't remember how, and also I didn't qualify because it didn't sell for that much.

Do you mind if I ask you what kind of bids you got on your 100 points?? You can pm me if that would be better for you.

 

[Dean]

We donate 100 points every year to a charity auction, and I let the winner call me with the dates they would like and I do my best to accomodate...haven't had a problem yet. My accountant told me there was a way to write it off, but I don't remember how, and also I didn't qualify because it didn't sell for that much.

Your accountant is simply wrong but like lawyers, unless they know timeshares they're less than helpful. But I suspect most will get by with it if they list it but it might trigger an audit though likely won't for a once a year small time donation.

 

[makthompson]

In my experience, the person doing the purchase would be the one who could deduct if it was deductable. the organization type doesnt matter. because they will be getting something for it (i.e. dvc time), it's not deductable. if it was just a cash donation then yes a portion would be deductable, but you cant get anything out of the transaction (i.e. money).

 

[NJmouse]

Maybe you can contact Disney Guest Services and tell them about your friend and that there is a fund raiser for her/him. You never know with the Year of A Million Dreams maybe they could do something for you.

 

[makthompson]

that's true

 

[karebear1]

Maybe you can contact Disney Guest Services and tell them about your friend and that there is a fund raiser for her/him. You never know with the Year of A Million Dreams maybe they could do something for you.

I have a call into my guide, who, unfortunately at this time, is on vacation until next week. When I hear back from her I'll let you all know what she has to say.

 

[chepic]

Do you mind if I ask you what kind of bids you got on your 100 points?? You can pm me if that would be better for you.

That's fine: The first year it went for $800, the next year for $750, and this year $1300. It all depends on the bidders and what they are willing to do to go to Disney that year.

Also, we always contact Disney to ask for a donation of a week's stay, and they always decline, but give us passes, so ask away and try to get what you can.

good luck

cheryl

 

[GoofItUp]

Here's one more thought....you could always put a minimum bid on it and if it doesn't sell for that price, list it on the Rent/Trade board and donate the cash. Might be a little more trouble to deal with renting it out as such (I've never done it, so I don't know) but if you're wanting to maximize the dollars for your friend, it's something to consider.

BTW -- this is very generous of you. So, even though I don't think you're post is to get praise for yourself....I'm giving it anyways!

 

[lizziepooh]

I also would put a minimum bid on it. Some folks don't know the value and I would hate to only have it bring a couple hundred dollars. Better to rent points and donate the money as the previous poster said.

 

[makthompson]

you could always look at the rent/trade board and see what going rates are. start the bidding at the lowest rate would be my suggestion. Since it's for a fundraiser people would typically pay more than they would normally.