• November
    12
    2020
  • 3 min read

How to Donate a Timeshare to Charity – List of Charities that Accept Timeshares

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How to Donate a Timeshare to Charity – This is a burning topics we hear a lot of. People who want out of their timeshares are not always looking to sell it, or save a quick buck, sometimes they want to pass it along and do some good.

If you’ve got a timeshare that you’ve paid off and are thinking about selling, explore how donating it to charity could be a better option. Depending on your financial situation.

Donating a timeshare is an effective tax management strategy that can help you recoup some of your investment over the years.

Of course, any sizeable charitable donation should be done in concert with advice from your legal and accounting team.

Talk to a lawyer or an accountant about what’s involved and whether it’s for you.

First, you will need to learn how to donate a timeshare to charity and what’s involved.

You should also read through a list of charities that accepts timeshare donations to find something that aligns with your values.

People tend to be very particular about the charities they donate to, and you will want to find something to which you feel good about giving.

Here is some information on how to donate a timeshare to charity as well as some famous charities that accept timeshare donations.

Choosing the Right Charity for Your Donation

How to Donate a Timeshare to Charity

Whenever people donate large sums of money, they want to make sure their donations make a difference.

Choosing a charity that is dedicated to a cause you believe in is a great first step. Almost everyone who donates any amount to charity wants to feel good about the causes they champion.

You can typically learn about what they do and what kind of impact they make by visiting their website and reading online reviews.

Take a look at past projects they’ve been involved in and see if it’s something you want to get behind.

Here are some of the charities that accept timeshares:

  • Helping Hands of America – Helping Hands of America is an organization that solicits donations from Americans and then distributes the proceeds of the donations to a network of charities like the Lupus Foundation of New England, Meals on Wheels, and the Association of Blind Citizens, to name a few.

    Basically, by giving to Helping Hands, you’re dealing with a broker that is familiar with donations that come in all forms like timeshares, cars, boats, and other items.

    They’re familiar with how much things are valued and how to arrange for easy transfer of ownership. A lot of timeshare owners find dealing with Helping Hands easy and efficient.

    By donating to Helping Hands, you have some say around which charity in their network will ultimately benefit from your giving, which is a feature many people enjoy.
  • Big Sky Youth Empowerment Movement – The Big Sky Youth Empowerment Project targets at-risk children in Montana.

    They seek to provide wholesome activities like fishing, horseback riding, and other outdoor activities to foster growth and build a community of support around children who need it most.

    If helping children is a cause you are passionate about, then they’re a worthy charity you should get in touch with.
  • The National Foundation for Cancer Research – There is a lot of money flowing into cancer research each year and for good reason.

    There has been major progress in the last decade when it comes to cancer prevention and treatment, and any money you donate would go a long way to helping move the needle.

    The NFCR does research focused on molecular and cellular biology that contributes to early diagnosis and breakthrough treatments.

    The charity also runs a laboratory without walls programs that promote international collaboration among cancer researchers.
  • The Network Against Sexual and Domestic Abuse – Founded in 1979, the Network Against Sexual and Domestic Abuse supports victims of abuse via prevention and intervention programs that deliver critical assistance to people in need.
  • International Hearing Dog – If you love animals, this is a great candidate for a charity worthy of a timeshare donation.

    The International Hearing Dog organization is dedicated to training and placing hearing dogs to help deaf or hard of hearing people improve their quality of life.

    Many of the recipients have multiple disabilities and any donations make a direct impact on helping them function and enjoy life.
  • The American Kidney Fund – The American Kidney Fund is the U.S.’s largest voluntary health organization. It serves people dealing with or who are at risk of kidney disease.

    This organization helps via direct financial support, as well as education efforts and clinical research. One aspect of the American Kidney Fund that donors love is that 95 cents of every dollar given go directly into programs or to patients.

    The organization is consistently recognized as one of the leading charitable groups in the country each year.

These are just some of the charities that accept timeshare donations. If you’re interested in learning more about others, there are plenty of resources available online that can point you in the right direction.

You can even contact charities you’re interested in directly to ask whether they will accept timeshare ownership as a donation.

The Process of Donating Your Timeshare

The first thing you’ll need to do is value your timeshare. You need to know the exact value of what you’re giving so you can claim the appropriate amount when you file your tax returns.

If your timeshare is worth more than $5,000 the IRS requires you to get a professional appraisal done to avoid any misrepresentation.

If it’s less than that amount, you should talk to your accountant to try to get an idea of how much you should claim as a tax deduction for your donation.

After you have a charity picked out and you know how much your timeshare is worth, you can start working on the transfer.

The entire process takes about 12 weeks, so leave plenty of time to get things done correctly.

The charity will send you a donation agreement that you have to fill out and return to them with a copy of your deed.

Once they have your deed and forms, they’ll draft a new deed while a closing company checks the title to make sure that it’s clean and there are no loans or judgments against your timeshare.

They’ll also look to see that all taxes are paid, and your resort fees are paid current.

Once that is all complete, the charity will send you a new deed that, after you sign, will transfer ownership to them.

You’ll need to get the document notarized and send it back to the charity, their attorneys, or their closing company, whomever they dictate.

Finally, after everything is complete, the charity will send you a tax receipt in the mail which you should keep in your files or with your accountant in case you are ever audited by the IRS.

Using a Broker

If you’re interested in donating to a specific charity, it is possible that they are not set up to accept gifts like property deeds, boats, cars, and other more obscure items.

Many charities restrict donations to cash or cash-like investments (stocks, bonds, etc.).

In that case, you can work with a broker who specializes in selling timeshares and donating the proceeds to the charity of your choice.

People tend to buy timeshares that are marked for donation to a charity faster than private sales.

That could help you wrap up the process more quickly and avoid having to pay any more maintenance fees.

Many timeshare owners know the frustration of listings that languish on websites for months or even years.

A good broker will be able to help you close a deal quickly and get the proceeds to a charity.

Talk to companies that work with timeshare owners on charitable sales. Choose a responsive service and has a good track record.

Ask them about what they do and find out what they think your timeshare can fetch in a charitable sale.

You can also look at their Better Business Bureau ranking to gauge what sort of broker they are.

Many donation brokers will ask you to fill out an initial form on their website with your contact information, details on your timeshare, and the current deed or loan situation.

After they have their information, they will reach out to you to discuss the process and answer any questions you have.

Choose What Is Right for You

Donating a timeshare to charity is a fantastic way to make a difference and at the same time reduce your financial obligations that come from paying annual maintenance fees.

It’s a great option for people who don’t use their timeshares as often and are having trouble selling it or canceling their contracts.

Whatever route you choose, whether it’s a sale or a donation, choose the right team to represent you to make the process smooth and easy.

The best companies work closely with you and set realistic expectations on things like timelines, timeshare value, and will patiently answer any of your questions.

If you’re interested in learning more about timeshare charitable donations, there are a lot of different resources online that explain the process in detail. You can also learn from others’ experiences by reading reviews and testimonials.

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