V-DAC duplicates how the largest
charities handle vehicle donations:
V-DAC establishes and supervises all
processes, main- tains a registry of non-profits and provides marketing programs.
Vehicles are handled by the auction service for 14 of the 20
largest insurance companies and the top 10 national charitable programs.
An accredited 501(c)3 "Central Charity" receives vehicle titles
and proceeds from auctions to maintain donor tax deductibility and indemnification of benefiting non-profits.
The "Central Charity" distributes to the donor designated receiving non-profit
all net proceeds after all auction costs and administration fees are deducted.
V-DAC gets a small administration fee for handling the program. This fee is used
to cover processing expenses, provide a comprehensive public relations program and develop fund raising materials.
The result is non-profits receive proceeds similar to a dedicated program
after the costs of staffing are taken into account. To see detailed cost example go toCosts and Timing.
