The timeshare industry is booming. Across the country, there are 6 million timeshare owners. Some estimate the industry is growing by 20% per year. And why not?
Despite the recent decline in the real estate market, the cost of owning and maintaining a vacation home is simply out of reach for many. Even if a family could afford a vacation home, many would not want to swallow the entire elephant of the ongoing maintenance costs. A timeshare represents a good alternative. You can effectively buy time at a place where you want to vacation at a fraction of the cost. You can trade your time at another resort if you wish to change locations.
As the number of timeshare owners rise, the number of donation possibilities arise. Let's face it: for many a timeshare purchase is an impulse decision. We've all done it. Enticed by the offer of a free weekend if we will only commit to a short 90 minute presentation, we go and listen. Despite the vows of not buying, many cannot resist the pitch and end up with a timeshare.
A friend recently told me his story. They were vacationing at a nice resort. While there, his wife heard about a "cash back" offer if they would simply attend the 90 minute presentation. After 4 hours, they found themselves the proud owner of a nice new timeshare. They thought it would be perfect for their family and their teenage sons--until their first visit. They found the resort plopped in the middle of some nude beaches. For the unsuspecting, nude beaches and teenage boys do not mix well. So what do they do?
A great option for timeshare owners who no longer want their timeshare is to donate it. For some, like my friend, they find the timeshare incompatible with their family. Some found they never used it. Some found they couldn't trade weeks very well. For others, it was a matter that it was truly an impulse decision they regretted.
For the charity, the timeshare represents one of those new donation possibilities. A donor may donate the timeshare to the charity and the timeshare can be sold. The proceeds go to the charity. For the charity, they help their donor solve a problem: how to get rid of that timeshare they no longer use. Admittedly, the secondary timeshare market is not lucrative, but by offering timeshare donations the ministry gets to engage the donor in a broader discussion about giving. Similarly, by offering timeshare donations, a donor may learn about giving other non cash items.
For the charity, the key is knowing what timeshare to accept. You don't want to end up with maintenance fees, etc. That's where it pays to use the right outsource. The Charity Group (www.thecharitygroup.com) is one source for handling timeshare donations.
In pursuing timeshare donations, just remember you may end up with a timeshare that your charity can use in other fundraising efforts or even for staff sabbaticals.
William High is the President of the Servant Christian Community Foundation (www.servantchristian.com). He may be reached at whigh@servantchristian.com. Christian Foundation Grant (www.christianfoundationgrants.com) is a subscription database of foundations offering grants to faith based organizations. iDonate.com (www.iDonate.com) is a service to non profits that allows them to receive non cash gifts online.