Point Donation Advice Needed

[wdwsos]

Hi all!

We're planning to donate 3 nights at the OKW to our son's school to support their speech team. The plan is to have it in a silent auction at the fundraiser, coming up in a few weeks. We thought that 3 nights (non-weekend) in points would possibly bring in a lot more than the points are worth.

Any advice on how I should word this?

I'm saying that the nights cannot include a Friday or Saturday night stay. (I'm not that generous!)

I'm saying that there are blackout dates (Premier Season).

I'm saying that "travel must be completed by...."

I'm saying "based on availability."

What am I missing?

Also, what would you consider the approximate value to be? Without the 11% resort tax, the rack rate would be anywhere from $700 to $1000, but can I say that, considering how many discounts are out there? I'd like to put a minimum bid of $400, but I'm wondering if that's too high.

If anyone's had experience with this, or even just has an opinion with nothing to back it up <g>, I'd appreciate it.

TIA,

Dotti

 

[LoveToDisney]

Hi wdwsos!

Are you planning to give away a studio or a 1 BR?
We've given away a non-DVC week (7 days) from our other timeshare before and I suggest advertising the positives, such as...how many nights, size of unit, max number who can sleep in the unit, give a photo of Old Key West and that it is on Disney property with access to Disney transportation (no need for a car)!

I created a poster for our silent auction and placed photos of the unit (we were giving away a 1 BR deluxe villa with whirlpool, etc.), plus put information about the location. The more hype you give it, the more the bidder can envision its worth.

Since you are wanting to make sure they know it does not include weekends, simply state: Choose from Sunday through Thursday nights through "whatever your cutoff date is." Reservation is subject to availability. Since you are making the reservation, you are totally in control. Definitely note the worth as the MAX value Disney would charge! The more the unit is worth, the more it makes your $400 minimum bid looks like a great deal. If anyone is familiar with Disney, they will know that the opening bid is worth it. For instance if you are doing a 1 BR in Magic season, that's 66 points x $10pp = $600 actual value. The fact that Disney charges so much more is to your advantage!

Our silent auction did great. A couple bought the week for their son's and future daughter-in-law's honeymoon. Hope this helps!

 

[mbb]

include a map of the WDW property on your poster (if you're going to do that) That way, people will know it's ONSITE, and not a timeshare presentation deal. Also WDW Transportation is a feature/benefit to remember...Have fun...and pixie dust to you for doing a good deed!!

 

[Dean]

I'd put a min bid at the level you'd personally give them the money rather than the points. Just remember that the value is not tax deductible unless you give them permanent ownership of the contract.

 

[Alice Sr.]

Wow Dean I didn't know that and neither did my tax person because I have donated 3 nights pretty much every year that I've owned and claimed the pnts X $10 value as a deductible under donation. They usually bring in $300-$400 someone on this board had someone include frequent flyer mile tickets and said they make something like $1200. My oldest DD is going on a mission to Honduras in June so I donated to that fundraiser but no one had frequent flyer miles. I never thought to start with a minimum bid - that's a good idea, it always pains me to give the points away anyway (separation anxiety) this way I can make sure they bring what they are worth to me (emotionally not financially)
Thanks for the heads up.

Good luck Dotti, let me know how you do.

Alice

 

[Dean]

Originally posted by Alice Sr.
Wow Dean I didn't know that and neither did my tax person because I have donated 3 nights pretty much every year that I've owned and claimed the pnts X $10 value as a deductible under donation. They usually bring in $300-$400 someone on this board had someone include frequent flyer mile tickets and said they make something like $1200. My oldest DD is going on a mission to Honduras in June so I donated to that fundraiser but no one had frequent flyer miles. I never thought to start with a minimum bid - that's a good idea, it always pains me to give the points away anyway (separation anxiety) this way I can make sure they bring what they are worth to me (emotionally not financially)
Thanks for the heads up.

Good luck Dotti, let me know how you do.

Alice

See this thread, especially the last post by vanstoj. Thread on this subject

 

[LoveToDisney]

Originally posted by Dean
See this thread, especially the last post by vanstoj. Thread on this subject

Hi Dean,

Thanks for the info. It was a real eye opener for any of us that thought donating a few days of our Disney Timeshare was tax deductible.

I was still unsure from reading the thread you gave us, so I got the IRS brochure and read through the rules. They talked about someone who owned a second home on the beach, etc. and occasionally rented it out and decided to donate a week. It didn't exactly say timeshare, but that the person owned the entire house (a second home). So, I called and talked to an IRS agent and they explained it this way...

If I called up Disney reservations and paid for a vacation week just like we did before DVC and then donated that week to the charity, it would be tax deductible just like purchasing tickets to a ball game and then donating them to the charity for them to be auctioned off for as much as they can get. However, when I donate from what I already own (the timeshare interest), I instead have a "loss of income" by not renting it out and it is not deductible as a gift.

Bad news for anyone wanting to take the deduction, but it is better to know ahead of time that it just isn't possible.
Thanks!

 

[Dean]

Originally posted by LoveToDisney
Hi Dean,

Thanks for the info. It was a real eye opener for any of us that thought donating a few days of our Disney Timeshare was tax deductible.

I was still unsure from reading the thread you gave us, so I got the IRS brochure and read through the rules. They talked about someone who owned a second home on the beach, etc. and occasionally rented it out and decided to donate a week. It didn't exactly say timeshare, but that the person owned the entire house (a second home). So, I called and talked to an IRS agent and they explained it this way...

If I called up Disney reservations and paid for a vacation week just like we did before DVC and then donated that week to the charity, it would be tax deductible just like purchasing tickets to a ball game and then donating them to the charity for them to be auctioned off for as much as they can get. However, when I donate from what I already own (the timeshare interest), I instead have a "loss of income" by not renting it out and it is not deductible as a gift.

Bad news for anyone wanting to take the deduction, but it is better to know ahead of time that it just isn't possible.
Thanks!

Glad to help but sorry it's bad news.