April 17, 2003
Donors Overestimate Benefits of Auto Gifts
Charities receive less money from the donation of cars than the donors expect, congressional investigators told lawmakers this month.
When donors give their cars to charity, they assume that the charity will receive the fair market value of the vehicles. However, that's often not the case, the General Accounting Office, Congress's investigative arm, told the Senate Finance Committee at a hearing where it released a report on car donations.
Charities sometimes auction donated
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