Vehicle Donation programs have been proliferating over the past few years, and stations are working with various vendors in order to collect used vehicles from donors, who get a tax credit for their generosity. According to the article, public media is a latecomer to this mode of fundraising having only picked up steam in the last five years or so. Better late than never we say, and with 20 million in potential profits on the table system-wide we are an enthusiastic bunch.
Lots of vendors are vying for attention, as neither stations nor donors want the hassle of unloading unwanted cars at auction. Current’s article focuses particularly on the work CDP is doing with our vendor of choice, IAA, and Michal explains that this partnership has quite efficiently cut out the middle man. Always looking for ways to deliver more NET revenue back to stations, Michal created a program that can still be hassle-free yet increases returns on vehicles by at least 65 percent.
The growth of this segment has yet to be fully realized, and stations who don’t have a vehicle donation program set up at their station could be abandoning a source of easy income. If you aren’t one of the 18 CDP member stations already benefitting from our program, reach out to our office anytime and see how easy it is to start. Check out the full text of Current’s article for more buzz: http://www.current.org/2013/07/donated-cars-bring-big-bucks-to-public-stations/.