Frequently Asked Questions
Q: Is it better to sell my property or to donate it to a Charity?
A: It depends on a number of factors. Oftentimes, it is more advantageous to Donate the property because the tax deduction may result in greater savings than the sale proceeds generated from an outright sale. Contact ASC and we will assist you in determining the best course of action for you.
Q: How is my donation liquidated by ASC?
A: ASC utilizes several property liquidation approaches:
First, ASC utilizes the Public auction to sell many donations.
Second, ASC makes significant repairs to donations whenever we believe that those improvements will produce greater revenue for the Charity and increased tax deductions for the Donor. These donations are sold both at auction and/or at retail.
ASC professionals assess each property donation in order to determine the method of liquidation that will produce the greatest revenue for the Charity and the highest tax deduction for the Donor.
Q: Why does ASC advance the funds necessary to make significant improvements to property donated to a Charity?
A: Selling donated property in the 'as is' condition most often diminishes the tax deduction available to the Donor and the revenue for the Charity. In most cases, selling donated property in the 'as is' condition actually penalizes both Donors and Charitable Organizations. In today's economic climate, this 'typical sales approach' used by most auction sites, isn't practical.
Q: How does ASC 'help' a Charitable Organization increase its income?
A: There are a number of benefits that Charities derive by working with ASC.
- ASC advances its own capital to make significant property improvements to donated property. These improvements INCREASE SALE PROCEEDS and THEREFORE CHARITABLE INCOME INCREASES.
- ASC offers its clients integrated service. All necessary property liquidation services are provided to ASC Clients regardless of the requirement. These services include, but are not limited to; pickup and delivery, advanced funds for repair, auction and retail sales, online inventory and tracking, complete title and transfer and IRS completed paperwork.
- ASC provides services under a contract that establishes an agency relationship between the Charity and ASC that may be cancelled at any time without cause by the Charitable Organization. This contract ensures the charitable Donor will be able to receive a tax deduction.
- ASC provides the Charity Client and its officers and board of directors with comprehensive liability insurance which not only protects each party, but also the charity's reputation should any liability claim arise.
- ASC provides designated individuals within each Charitable Organization password-protected access to the online tracking and payment system. Additionally, ASC permits these individuals to view live online auctions.
- ASC provides Buyers with a combination of both internal and external financial assistance in order to increase the number of eligible buyers and thereby increase potential sales and revenue.
- ASC sells property both 'at auction' and 'at retail' in order to increase charitable revenue. Additionally, ASC accepts a large variety of property for sale, thus increasing potential donations to support the critical mission of Charitable Clients.
- ASC provides its Charitable Clients with 'free' advertising. This is a benefit for any Charitable Organization since more than 50% of all donations are generated through advertising.
For more information on how ASC helps Charitable Organizations, click here.
Q: How much does it cost a Charity to use ASC's services?
A: There is NO COST for any (501 (C)3) Charity to utilize ASC. A small fee is taken from the sale of the donated property should ASC provide liquidation services for the Charity.
ASC does require all participating Charitable Organizations to include promotional information about the program in monthly newsletters, events, public relations, etc., and to include an ASC link on its website. ASC acts as an arm of the Charity in order to manage the entire donation program.
Q: Can I contact ASC directly with questions regarding my potential donation?
A: Absolutely, yes! Please contact our customer service representative with any questions or concerns you may have.