Donating timesharing to charitable organizations. Looking for ideas.

[6563william]

You own timesharing for life. Yet life situations change: family can no longer use; financial problems; illness etc. However, you find that you are still stuck paying the maintenance fees for a time sharing you don’t use. At least that is the situation I now find myself in. I am not interested in trying to sell my time sharing, but I would like to see it being used by families who can use it. So I came up with the following idea: “donate my timesharing to a charitable organization, so that they can run a raffle to help them to raise money to cover the cost of their charitable works.” They can pay the yearly maintenance and raffle off a vacation each year; or they can even raffle off the time sharing.” I am writing and looking for feedback from people who are involved with charitable organizations or churches. Do you think this idea has any merits? What suggestions would you add to make this idea better? What problems do you see with this idea?
Bill

 

[DeniseM]

No bonefide charities accept timeshare donations - they are liabilities - not assets.

The so-called charities that advertise online are all for-profit companies that charge the owner a large fee (hundreds to thousands of dollars) to accept your timeshares. Then they make a token donation to charity to claim charity status. It's a racket...

 

[Passepartout]

Most are a rip-off. They will only accept high-end, hotel branded TSs and they want upfront fees to even do that. There is no tax write off. Our experience is that they are little to no better than an upfront-fee scheme.

Far better to simply list your TS in the TUG Marketplace (if you feel it has value) or if you feel the value is less than $500, you can list it in the Bargain Deals section of the Buying, Selling, Renting forum.

Jim

 

[WinniWoman]

A woman I work with actually won a raffle at her church and is going to a timeshare resort in Florida this year. It was a donation. I was surprised to hear it, but I guess it is possible.

 

[ronparise]

A woman I work with actually won a raffle at her church and is going to a timeshare resort in Florida this year. It was a donation. I was surprised to hear it, but I guess it is possible.

Chances are that that was just the use, one year. The owner still owns it.

 

[dougef]

Chances are that that was just the use, one year. The owner still owns it.

Agree - I have seen a week offered at many silent auctions at charities.

 

[VacationForever]

I have donated several weeks for use to schools and non-profit charities for their auctions - it is free to them. I don't claim any tax write offs either. I pay MF, they get free weeks in which they get money from the auctions. That is the only legal/right way to do it.

 

[artringwald]

Timeshare companies are becoming skeptical of any transfers to corporations or charities. They may not allow a transfer if the recipient(s) can't provide ID.

 

[LannyPC]

You own timesharing for life....However, you find that you are still stuck paying the maintenance fees for a time sharing you don’t use. At least that is the situation I now find myself in....

Which is the exact reason why charities don't want your TS either. As was mentioned before, charities might take your TS off your hands if you pay them thousands of dollars. A much cheaper way to get rid of it is do advertise that you want to give it away. It might require a little bit of work and patience but you will save thousands!

 

[Passepartout]

Looking at the OP's stated resort ownership profile, I'm sure glad I'm not in his position of divesting. Not that I don't have more than I want to use anymore, but not to that extent. I hope they were acquired resale.

Jim

 

[TUGBrian]

this article will help clear things up for you. As mentioned above, donating to charity because you want to actually be charitable is one thing...using it to "Get out of your timeshare" is an awful idea.

http://www.tug2.net/timeshare_advice/can_I_donate_my_timeshare_and_get_a_tax_deduction.html

 

[csxjohn]

Looking at the OP's stated resort ownership profile, I'm sure glad I'm not in his position of divesting. Not that I don't have more than I want to use anymore, but not to that extent. I hope they were acquired resale.

Jim

I'm thinking Ron will be all over this when he sees it.

 

[CO skier]

You own timesharing for life. Yet life situations change: family can no longer use; financial problems; illness etc. However, you find that you are still stuck paying the maintenance fees for a time sharing you don’t use. At least that is the situation I now find myself in. I am not interested in trying to sell my time sharing, ...

Some of the larger timeshare companies are offering owners a way out of their timeshares, so that they do not have to own them for life.

If I did the arithmetic correctly, the maintenance fees on 16,000,000 Wyndham points is about $100,000 per year. No charity would want that kind of liability.

If you cannot give away your timeshares, or do not want the trouble of trying to, Wyndham is currently offering to take back resale points at no cost and pay a few thousand dollars for some deeds that were purchased retail. Sell your deeds back to Wyndham (or "donate" them to Wyndham if they are resale), then donate any proceeds to your favorite charity. This will work out best for you and the charities.

 

[6563william]

Thanks to all who offered opinions

Thanks to all who offered opinions. I am no longer entering this idea of giving my time sharing to charity.

Thanks
Bill Lapczynski