Donate Your Aircraft

For you to receive a tax deduction for a donated aircraft, the charity you choose must be and operated exclusively for one or more exempt purposes described in section 501(c)(3) of the Internal Revenue Code. In other words, your chosen charity must generally be recognized by the IRS as a 501(c)(3) charitable organization. Pilots for Christ International is recognized by the IRS as a 501(c)(3) charity to which deductible contributions may be made.

See IRS Publication 78, Cumulative List of Organizations, which can be found at www.irs.gov/eo (under “Search for Charities”), for status verification.

Donors contribute vehicles, such as aircraft, in order to support charity and often benefit from the federal income tax deduction. The process of donating vehicles is a little more complex than giving contributions of cash, but the following steps can help simplify the process. First and foremost, you should ALWAYS consult your personal tax adviser!

Pilots for Christ International does not offer tax advice or counsel. It is always best to speak with your accountant, attorney, or tax adviser to discuss your personal situation and determine how best to make a significant contribution such as an aircraft. In general, however, this is an overview of the steps that will apply to the contribution of your aircraft:

1.IRS regulations require that in order to deduct a charitable contribution for a donated vehicle or aircraft in excess of $250 you must receive from the done organization a  letter or receipt acknowledging your donation.

PCI will provide you with a letter of acknowledgment which meets the IRS requirements. PCI may include in the letter information regarding its intended use of the aircraft.

2. When you donate an aircraft valued over $500, PCI will provide you with a contemporaneously written letter of acknowledgment and a copy of IRS Form 1098-C.  The amount of your charitable deduction may depend on what PCI does with the aircraft. You will need to complete portions of Form 8283 as well. IRS Form 1098-C:

https://www.irs.gov/forms-instructions-and-publications

3. If the value of your aircraft is over $5,000, in addition to the items listed in items 1 and 2 above, you will need to get a written appraisal to substantiate the amount your deduction.  In addition, you as the donor, the appraiser (if applicable), and PCI must each complete a part of IRS Form 8283. Gospel Ministries International, Inc. Tax Deduction Amount generally, if you are claiming that the value of your donated aircraft is more than $500, the amount of your tax deduction will depend upon what we do with the aircraft. If we sell the aircraft (in an arm’s length transaction to an unrelated party) without any significant intervening use or without making material improvements to the aircraft, your deduction will be limited to the gross proceeds we receive from the sale of the aircraft. If we use the aircraft in our charitable programs for a significant period of time or make material improvements to the aircraft before selling it, your deduction is based on the fair market value of the aircraft at the time of the donation. If your aircraft has been used for business purposes please consult your business tax advisor regarding the deductible amount. IRS Form 8283, in addition to the written acknowledgment requirement, a donor must file Form 8283, Noncash Charitable Contributions, to report information about noncash charitable contributions if deductions for all noncash gifts during the year exceed $500. If any single item or group of items donated exceed $5,000 in value, the donor must complete Section B of Form 8283, get a written appraisal of the donated property (unless the deduction is limited to the gross proceeds from the sale of the property by the charity), and have the appraiser (if applicable) and an authorized official of the charity complete and sign a portion of the form.

IRS Form 8283:

https://www.irs.gov/forms-instructions-and-publications

If YOU sell the aircraft and simply contribute the proceeds as a cash gift, then your contribution will be treated the same as any cash contribution. You will receive a written receipt substantiating the amount contributed.

NOTE: There may be significant tax implications associated with whether you choose to donate your aircraft or instead choose to sell your aircraft prior to making a donation. PLEASE consult your personal tax advisor before making that decision.

If you decide to contribute your aircraft, you can be sure that you will be investing in the lives of thousands of people by bringing help and hope to suffering ones in places where only aircraft can go. To speak with a representative of Pilots for Christ International:

Please contact:

Gary Geib – President

Pilots for Christ International

12 Clipper dR

Lake Topawingo, MO 64015

Phone: 816-517-1955

theflyingeibs@gmail.com

IRS tax forms and publications (available at https://www.irs.gov/forms-instructions-and-publications) related to donations include: Form 1098‐C, contributions of Motor Vehicles, Boats, and Airplanes Form 8283, Noncash Charitable Contributions Publication 526, Charitable Contributions Publication 561, Determining the Value of Donated Property Publication 1771, Charitable Contributions –Substantiation and Disclosure Requirements Publication 4303, A Donor’s Guide to Vehicle Donation.