Search didn’t find current info, and know things change. I have a horse of a student that is off to college that the owners need off their plate. They would like to see her go to a college team and be useful and cared for, and receive a tax benefit. She is a nice, typey mare with no soundness issues. Hasn’t sold (in small market) and they don’t want to lease. Have you guys had success stories about donation, and who to contact, that you can share? Thanks!
Also, in researching, I see/hear good things about donating a horse to SCAD equestrain program. Anyone know a contact there? Experience you can share?
There are plenty of recent topics with mixed opinions on donating or not with more leaning toward the not end of things. This topic is only one year old and there is one good mention of SCAD:
How much are they expecting for a tax benefit? There are restrictions on those… like needing an apprasial if they are over $5,000.
We’ve definitely had a thread within the last month or two, in addition to the many other threads on the matter.
Depending on their location understand that many programs you must pay for the shipping there, there’s a trial period, and if it doesn’t work you get to pay the shipping back.
might suggest they look into what local colleges have programs near them, what their donation policies are, and what happens to the horse if or rather when it doesn’t work, ceases to work, or horse can no longer work.
If you’re in the Northeast, Mount Holyoke has an excellent donation program. They have excellent facilities and care, tax benefits, include a right of first refusal if the owner wants to, and has a great rehoming program for horses when they retire.
In general, the program directors or barn managers are the ones you would contact with inquiries about donations. Even if they aren’t the contact person, they will usually put you in touch with who is.
Remember, often times schools sell donated horses, so you will not be assured a school home necessarily.
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Indeed Mount Holyoke’s policy used to be available online. Probably still is.
I know Lake Erie is looking right now.
Where are you located? That would help with recommendations. Most schools want to see the horse before accepting it and donor pays for shipping…wouldn’t be much of a donation with hefty shipping bill attached. Also, the better schools get more requests to accept horses then they can possibly use so it’s not always easy to find one that will accept it. The ones that take just about anything sell them or put them down. Be aware.
The owners need to research carefully and would need to be the ones contacting the schools for donation before deciding. it’s going to take a great deal of your time so would suggest the owners handle that end of it. They need to see their CPA too. That tax donation is not guaranteed and has some hoops to jump thru, the school has to keep the horse a set period of time, if they sell it on before that is met, former owners get a big tax bill. And don’t kid yourself, that happens, doesn’t matter if the school screwed up, IRS wants its money back plus interest and penalties, had a friend go through that. Alumni too, heartbreaking and expensive.
If horse is not selling, try adjusting the price point and taking it to a winter show or two and aggressively marketing it. Buyers dont come to small barns to see one single horse these days when they can see 6 at even an unrated WEC show or similar.
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:yes: Everything @findeight said.
Friend donated her older mare to a therapy program.
Several years down the road they called & said mare was no longer useful & did she want her back.
Friend did not.
Something to consider if the donation is not On Paper permanent.
I can’t think of a college where the horses are “permanently” donated. Some may euth rather than sell, but supporting unusable animals isn’t really sustainable for these programs.
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Well, with friends it was “on paper permanent” the school would keep the horse the required time for the tax deduction but they didn’t and because school files taxes including income from donated horse sales the IRS sniffed it out.
School claimed it was poor record keeping on the part of recently asked to leave program director. Friend got tax lawyers involved, did get most of the penalty fees eliminated and fraud charges dropped but had to pay back the total amount of the tax deduction plus interest on what I imagine was a conservative valuation of 50k, could have been more, have no idea what she claimed for income or the valuation of the horse or had to cough up. Just not something she cared to discuss without a double dose of blood pressure meds around plus she was taking action against the school since it was specified in the donation paperwork. Dont think they ever found that horse either or even if they looked very hard.
At any rate, it’s not an easy peasy automatic tax deduction and it’s something the owners need to handle with their advisors.
