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Car Donation: A Multi-Million Dollar Industry That Gives Back

The Better Business Bureau estimates that between 8,000 and 10,000 vehicles are donated to charities each year. Giving to a charity isn't only good for you, or the charity, it's good for business. This silent revenue stream adds up to more than four million dollars. If you want to be a part of it, start looking for charities.

Finding the right charity for you might take some time, because there are thousands. If you have been connected to a certain charity or cause all your life, then your search is narrowed down. If this is your first time giving to a charity, then you need to think about what matters to you. Next consider if you want to give to a local, state or federal charity. There are many online utilities to help you find a charity you want to be a part of.

Once you have whittled your search down to just a handful, your next step should be to request a copy of the organizations IRS Determination Letter. Detailed in this document is information regarding the charity, including which tax exemptions it is qualified for. Online research regarding specific charities may turn up some important details as well. When your search is close to done, don't hesitate to send the charity an email with questions.

It's estimated that 88 percent of households give an average of $870 every year to charities. This silent industry does a tremendous amount of good, and you can help it keep going by donating your vehicle this year.