Baysave

Baysave is sad to announce a halt of oyster shell recycling programs in Pennsylvania, New Jersey and Delaware. The program began in 2003 and helped recycle hundreds of tons if shells back to oyster aquaculture and oyster reef restoration efforts. But the program has not been funded since before the pandemic. Baysave was approved for pandemic relief funding, but the funds never arrived from the Small Business Administration that was charged with administering the program. Already in 2023 several usually reliable funding sources have declined applications for support. We are unable to continue operating without community support.

Snags for carbon offset projects

One of the key take home messages from the 2023 World Economic Forum in Davis last week was that our carbon offset market system is not working efficiently. This concept is commonly known as ‘cap and trade’.

The concept is solid. The problem, from our simplified perspective, is that there are too many layers of management and oversight chewing up resources and leaving too little for local ‘shovel ready’ projects. Translating the project goals into a carbon-based accounting system means that we are working in a currency system unfamiliar to all except a few specialists. An emphasis by carbon exchanges on projects in located in remote parts of the world amplifies this problem. There are too many complicating factors for the cap and trade system to work as conceived.

A secondary problem, at least here in the U.S, is that political will is building in opposition to the climate goals adapted by businesses and their customers. Any synergy that could be gained is lost in this environment. Governments historically provide assistance in the form of tax credits; a proven system that is far easier that the carbon credit market.

I fault the AICPA here in the U.S. for not taking a more active role and providing more leadership in this area. Yet I am not surprised. The AICPA seems to focus on the fewer large businesses, not the many more small businesses that dominate this local environmental offset and sustainability market. Despite all the discussion, we haven’t really embraced carbon-based accounting.

The key question remains:

Is there a simple practical way to connect local carbon generators with carbon offset projects here in our own local area without suffering the efficiency losses discussed at WEF? I will continue to look for possibilities.

Baysave is asking for community support for our Money Island resident osprey pair.

Last season the rush of spring fishermen near our Bayview Road osprey nest disturbed the birds, they spent too long away from the nest, and the eggs died and did not hatch. Let’s make sure that doesn’t happen again.

Yesterday and today we had visiting fishermen who disturbed the nest. We will take quick action.

NJDEP provided this sign design. We will print 4 of them and mount them on two double-sided plastic display stands. We will need to anchor them to withstand heavy wind on the beach.

Ospreys mate for life and return to the same nest year after year. Please support us in making sure that our osprey pair has a safe and peaceful nesting season.

PLEASE USE THE DONATE TAB ABOVE AT THE TOP OF THIS PAGE TO CONTRIBUTE TO THIS PROJECT.

Thank you!

Thinking about donating your boat? Here’s a year end charitable donation caution:

Some charities are advertising that they accept donations of boats. What they don’t say is that to maximize your tax deduction the IRS requires a certified appraisal report by a professional marine surveyor for the donor to take a tax deduction for the full boat value. Without a certified appraisal, the tax deduction is limited to the amount that they get when they sell the boat (in the middle of winter in a depressed wholesale market). This typically reduces the tax benefit of your donation.

Baysave is different. We keep the boat to benefit the local community. It may serve the nonprofit marina or may be converted to develop sustainable aquaculture. The tax deduction amount is based on a potentially higher appraised value. The issue is that these certified boat appraisals are very rare.
We don’t think that there is any charity in our region other than Baysave that has the resources

, expertise and know-how to take charge and get the documentation that a taxpayer needs to get their boat donation tax deduction. The details, documentation and timing matter.

If you are considering donating a boat, rely on the CPA leadership of Baysave to help our rural bayshore and lock in a safe tax deduction.

For more information see IRS instructions for Form 8283 at https://www.irs.gov/instructions/i8283

Baysave’s 2022 post-pandemic business plan summary is now available.