First, to clarify: I have known of a few instances where a timeshare “owner” transferred the timeshare’s deed to a non-profit. For certain, there would be a great deal for the receiver organization to consider regarding future liabilities. However, most such donations are for one time (or even annual) use for a non-profit to offer for a donation to the organization. I expect the latter to be the case here. Even so, maybe some of the points made below would apply..
You have been offered an opportunity to “market” a product; to seek a donation at, or near, the amount of the “fair market value” of the time share facility. Do you have a wide and receptive “marketplace” to promote the timeshare to attract a donation in the required amount from prospects or donors close to your organization?
Only you can determine if it is worth it in the terms (hassles/net result) you cited. The questions which i believe must be asked and answered are:
-- What is the value of the time share facility for the time period offered?
--- How imminent is the required use of the timeshare for you to have adequate time in which to prepare your work to find a way to attract the desired donation?
-- Do you have available staff and volunteers at the ready to be enthusiastic and enterprising in the acceptance of the opportunity. They cannot have a negative attitude right at the start.
-- Do you have a board member who could step up and make the required donation, and in one such move, make it work? Or major donors close to the organization, known for the vacations/trips they take?
-- Do you have a ready means of attracting bids for the time share via an auction at an upcoming fund-raising event, where those patrons having the means to make bids in that amount must be present?
-- If no such event can be the showcase for offering the timeshare, what other ways do you have which can attract the required size of donation---with as little cost to the organization as possible?
-- Regardless the method and means to secure the desired donation, how reasonably sure can you be that you have a donor base with persons capable of giving in the required amount? And/or do you have the means to attract the attention of others not close to your organization, but who may want a bargain vacation?
-- Can you be as certain as possible that the auction/”sale” to secure such a donation can, in fact, be accomplished, so there is no embarrassment to the organization, and especially to the donor being disappointed, should the effort not be successful?
Finally, should not enough of the points made above be answered in a positive way, it may be time to give a polite, “Thanks for thinking about us, but we aren’t the right place for that very generous gift right now.”
P.S. Should you go with the timeshare deal, remember that the “In-Kind Gift” value is up to the donor. You should only cite the value to your organization in terms of the money it may attract. Any tax-deduction, or not, is what only the donor must reconcile with the IRS. If it comes to it, a reading of my short piece on GIK may help:
--- In-Kind Gifts: How to Acknowledge and Recognize Them http://www.raise-funds.com/2008/in-kind-gifts-how-to-acknowledge-and-recognize-them/
Tony Poderis http://www.raise-funds.com
- Feature Articles
- Worksheets & Forms
• Raise-funds.com is a FREE website