CHAPTER 3

DONATING YOUR SHARE TO CHARITY

There are literally thousands of time share owners eager to sell their time share. Many have been roped into paying a listing company an upfront fee of $400 to $700 to list their time shares for sale. Typically, a listing company representative is able to talk the seller into the listing price by saying the timeshare has a resale value four times the actual amount. Once the seller pays the listing fees, the time share does not sell because of the incredibly inflated price. At the end of the one-year listing contract, the agent calls the seller and attempts to get them to re-list for another $400 to $700. In the meantime the seller has not made arrangements to use the time share, expecting it to sell. In addition to listing fees the seller has also been paying maintenance fees and taxes on the property. Often times a seller will spend $800 to $3,000 trying to sell a property that will eventually sell for only $1,500 to $4,500.

This is why Donate For A Cause is the perfect solution for these sellers. Donors can get rid of their property in a matter of weeks at no cost to themselves while getting a tax write-off. By donating, time share owners capitalize on their profits while also assisting charitable organizations.

Take a look at the amount of money that is donated to charities:

National Foundation for Cancer Research	$124,069.90
American Kidney Fund	$37,525.01
Florida Veterans Assistance Association	$16,607.34
Thomas More School	$15,997.74
International Hearing Dog	$8,514.04
Network Against Sexual & Domestic Abuse	$4,918.29
Other Charities	$143,177.53
Totals	$334,202.51

There are several reasons why you should donate your time share to a charity of your choosing:

• No cost to you:  The donation process will cost you nothing (though the donor may be charged a $25 document retrieval fee if they are unable to produce a copy of their deed).
  
  
• Fast and easy process.
  
  
• Get a tax write off.
  
  
• Save money in broker’s fees.
  
  
• No more paying maintenance fees, taxes, or special assessments.

How does it work?

Simply contact a charity that donates time shares and tell them about the time share you wish to donate and which domestic charitable organization you wish to donate the time share to. There are many companies that will do all the work for you. Once they receive your submission to sell your time share they will assess your property and determine if it has sufficient market value. You will hear from back from them within a few days. Properties that have mortgages, liens, loans, or outstanding maintenance fees that you are unwilling to pay off are not acceptable for donation. Properties that are deemed acceptable are then sold, and the net proceeds are given to the charity of your choosing.

Non-US residents are welcome to donate timeshares to many charities. However, if you are interested in receiving a tax write off for this donation in your home country you must first consult a tax advisor in your country and find out if this donation would qualify for a write off.

Upon transfer of ownership of your timeshare, your chosen charity will send you a receipt as proof of your donation which you can then use to qualify for a tax write off. Once you receive your receipt, you should discuss its use with your accountant (or whomever you use for tax advice). You can also review the IRS web site regarding charitable donations at http://www.irs.gov/pub/irs-pdf/p526.pdf.

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