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ASC

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									ASC                           ABOUT US

Our Founders

       * Picture of Michael Ainsworth

Michael Ainsworth has successfully owned and operated Majestic Motors, a used
automotive dealer with locations in and around Baltimore, for 15 years. ASC benefits
from his 35 years experience in all aspects of the automotive industry including;
extensive knowledge of automotive financing, vehicle reconditioning, wholesale and
retail sales and purchases, and vehicle value assessments. Mike currently resides in
Joppa, Maryland with his wife, Donna.

          Picture of Richard Ainsworth

Rick Ainsworth owns and operates three assisted-living facilities in Southern Maryland.
Rick is a seasoned expert in the areas of accounting, personnel management, human
resources and finance. Rick is the brother of Mike Ainsworth and resides in Reisterstown,
Maryland with his wife, Helen, and their daughter, Chris.

          Picture of A. Nelson Gilmer, Jr.

Nelson Gilmer currently owns and operates the ASC facility in Aberdeen, Maryland. In
addition to his numerous years in the warehousing and transportation industry, Nelson
successfully owned and operated a national data processing company. His extensive
experience in the auction business serves ASC well in our goal to support the critical
missions of charitable organizations. Nelson resides in Bel Air, Maryland with his wife,
Karen and their two daughters, Carrie and Crystal.

All of the ASC owners strive to demonstrate the highest degree of integrity, empathy,
understanding, and devotion in our work and daily lives.


Our Location




                                      Picture of facility



The Auction Services Company, LLC (ASC) is located along US Route 40 just south of
Aberdeen in Harford County, Maryland. The facility is situated between exits 80 and 85
off Interstate 95 and is approximately 1.5 miles from the main entrance into Aberdeen
Proving Ground (APG). (See Map)

Aberdeen, Maryland is centrally located between Washington, DC, Baltimore and
Annapolis, Maryland to the south, and Wilmington, Delaware, York, Philadelphia, and
West Chester, Pennsylvania, and southern New Jersey to the north.



ASC                           FACILITIES

Our Facilities

ASC maintains 7 buildings comprised of nearly 100,000 square feet of floor space
situated on 11 acres of land. Our ample space provides generous parking and permits
ASC to provide a wide assortment of services in support of our client base and the
general public.

You will find a complete diagnostic and repair facility certified as a Maryland vehicle
inspection station, several auction buildings, and an enclosed lot for property donations
and private consignment parking. These facilities are protected by sophisticated,
electronic security systems permitting those with security clearances and access codes to
view all activities remotely, over the internet.

In addition, during the coming months, ASC will begin its own internal transformation
through the addition of other products and services including; household items, antiques,
and a unique consignment shop – in support of our charitable clients and the general
public. It is anticipated that these new additions, along with the products and services
already available, will greatly support individuals and families during the current
economic climate. (Go to products & Services)

Our Auction Facility




                         Picture of Auction Facility – Inside View




The ASC auction building has been designed to service both the Clients requirements and
the Public as well. The facility is secured with sophisticated, electronic equipment and
cameras that record all activity during on and off hours and permit both management and
clients the opportunity to view live auctions, any time from any location. The facilities
provide a comfortable setting to enjoy the auction experience. All auctions are conducted
inside the facility and therefore auctions are held weekly, rain or shine.

Our Repair Facility




                                      Picture of facility



At the ASC repair facility, the general Public and ASC Charitable Clients receive
professional mechanical repair work on automobiles, boats, camper trailers, motor
homes, motorcycles, truck tractors and trailers, and a variety of other transportation units.
Repair cost assessments are provided to all clients prior to work commencement.

Our repair facility allows us to provide a value-added service to Donors, charities and the
public during these difficult economic times. With repairs made to donated property,
Donors receive greater tax deductions, charities receive more revenue per donated item
and the public receives professional repair work at a discounted price.

Since the facility will be an approved Maryland Inspection Station (also operated separate
entity), ASC can support clients seeking required state license plates, and other
mechanical repair work in the state of Maryland.

ASC                            CLIENTS
Our Clients

ASC provides services to a wide and diverse group of clients. Following is a partial
listing of our clients by category. If you do not fall into a category below, please contact
our customer service representative and discuss your specific interest.

       A.   Charitable Organizations
       B.   Automotive, Yacht, Boat Dealers
       C.   Business and Public Consignments
       D.   Banks
       E.   Leasing Companies
       F.   Insurance Companies
       G.   Real Estate – Estate Sales, Residential and Commercial
       H.   Brokers – All Types
       I.   Business Excess Inventory
ASC                           OTHER SERVICES
Other Services


Pickup and Delivery Services



                                   Picture of ASC Equipment


Count on ASC for all of your pick up and delivery service needs. We maintain all of our
own equipment so that we don’t have to rely on outside companies to provide our
services.

Acting as an autonomous entity, ASC provides service to individuals with stranded
vehicles. In order to secure and liquidate repossessed assets, we also provide our pickup
and delivery services to banks, leasing companies, law enforcement agencies, and others.

Financing

ASC may provide or help Buyers secure financing for property purchases made at the
ASC site. In today’s economic climate, this feature is a true benefit to both Donors and
charitable organizations. Oftentimes, would be purchasers do not or cannot make
purchases due to the lack of available funds or because credit is not available. ASC has
funding sources available to clients requiring financing.

Our available financing increases the quantity of purchasers for property donations and
assists individuals and families in need to purchase necessities otherwise not available to
them.


ASC                           DONORS

Do you know how much you can save in tax deductions when you make a charitable
donation?

Donors and Property Donations

Donors

Why Americans Donate?

Each year the citizens of the United States prove themselves to be more charitable than
any other country in the world.
Whether the need is in a foreign land or within our own boarders, Americans have been
consistent in their generosity and support of worthwhile causes. Through their gifts of
cash, volunteering or property donations that can be liquidated, the American people are
supporting charitable missions every day. ASC believes that this generosity is one of the
hallmarks of the American citizen.

Individuals donate for a variety of personal and professional reasons. However,
regardless of their primary motivation, most derive personal satisfaction in knowing that
they have done something worthwhile that truly benefited another person or charitable
organization.

Tax Deductions

The government of the United States encourages its citizens to donate to worthy,
charitable causes. The Internal Revenue Service (IRS) allows Donors of property to take
advantage of tax deductions for their charitable giving. These deductions make charitable
donations comparable in savings to the outright sale of property.

DONATING IS GOOD FOR YOUR WALLET AND YOUR SOUL.

How is the tax deduction calculated?

Currently, Donors are permitted a tax deduction equal to THE SELLING PRICE of the
donated property.

The typical procedure for liquidating donated property amounts to picking up the
property and selling it as quickly as possible in an “AS IS” condition. This liquidation
approach results in LOWER SALE PROCEEDS and CORRESPONDING TAX
DEDUCTIONS for Donors.

Unlike our competitors, ASC’s repair shop is able to make significant improvements to
the donated property which allows it to sell at a greater price. The Donor will then
receive a tax deduction equal to the greater selling price.

THERE IS NO COST TO THE DONOR FOR ANY IMPROVEMENTS MADE BY
ASC TO THE DONATED PROPERTY.

ASC will provide the Donor with a detailed listing of improvements made by ASC and
the related cost which should be attached to the tax receipt (IRS form 1098-C) and both
should be included on the Donors tax return when claiming deductions. To assist the
Donor, ASC will mail one (1) copy of the repair listing to the IRS, and two (2) copies to
the Donor as soon as the property is liquidated.
Claiming tax deductions can be confusing. ASC removes some of the burden and
provides help with filing the deduction, but we recommend contacting your tax specialist
to ensure that you are in compliance with all rules and regulations.


Why do Charitable Organizations and their Donors use ASC?

ASC strives to achieve the maximum financial result for each property donated to benefit
the Charitable Organization and the Donor. When ASC repairs or refurbishes donated
property, the selling price increases resulting in greater tax deductions and charitable
revenue.

When we believe that improvements will result in a higher selling price, we invest OUR
OWN CAPITAL to make it happen. ASC never asks the Donor or Charity to pay for
improvements, which is why our services are so valuable.

The typical liquidator’s “AS IS’ mentality for auctioning donated property results in
significantly less revenue to charities and tax deductions for Donors. WHY? Simply
because these organizations DO NOT INVEST in IMPROVEMENTS to the donated
property. Charities and Donors who don’t use ASC could be loosing valuable revenue
and tax deductions. In today’s economic climate, it is imperative for both Donors and
Charities to choose their liquidator carefully.

Partial Cash Payment – Bargain Sale

Afraid to donate high-yield items because you think you will miss out on money from the
sale? Consider a ‘Bargain Sale’ and earn cash while making a difference for a charitable
organization.

For those Donors debating a high-value charitable gift versus a sale, ASC utilizes Partial
Cash Payments. This approach allows Donors to receive some cash as well as the
maximum legal tax deduction permitted. The IRS refers to the partial cash payment as a
‘Bargain Sale’ which permits the Donor’s gift to be treated partly as a donation and partly
as a sale.

The Donor is permitted a tax deduction equal to the difference between the cash payment
and the charity’s proceeds from the sale. The ‘Bargain Sale’ approach is generally limited
to higher valued donations such as; automobiles, yachts, boats, motor homes, and
recreational vehicles, etc., whose value is at least $5,000.

ASC cares so much about the success of our charitable clients that we utilize our own
capital as the ‘cash payment’ to encourage Donors to gift higher valued property. The
‘Bargain Sale’ produces higher revenue for charitable groups from a high-valued
donation and allows both cash and a tax deduction for Donors.

I want to donate, but deliver is such a hassle.
We are grateful for your donations and want to make the process as easy as possible for
our clients. ASC provides Donors with free pick up and transportation services to the
ASC facilities. Additionally, we provide both Donors and Charities with free storage of
their property donations in our secure lot.




ASC                           CHARITIES

ASC ‘always’ goes the extra mile to maximize the value obtained from liquidated
property.

ASC also ensures the charity and the donor of full compliance with all state and (IRS)
Federal requirements and laws by providing all required paperwork including transfer of
certificates of title, deeds of trust, tax receipts, etc.

Charitable Organizations

Charitable Organizations (501 C 3) provide a variety of critical services and assistance to
a large population of people throughout the United States. These organizations have
always counted on charitable contributions to continue their important work.

In today’s economic climate; spiraling government deficits, diminished real estate values,
high rates of unemployment, collapsing retirement accounts, the devaluation of the dollar,
economic uncertainty places additional financial strain on charitable contributions. With
so many Americans struggling to make ends meet, charitable income is lessening and
their services dwindling. The potential consequence for charitable organizations is
obvious – critical missions will be affected, and some may be forced to close or
dramatically reduce the level of assistance they can provide.

As thousands of charities compete for fewer available donations, each opportunity to
generate charitable income must be maximized. ASC works diligently to assist charitable
organizations in continuing their critical missions. By enabling Donors to give property
rather than dollars, ASC is contributing to the continued success of notable charities
despite the tightening of consumer wallets.



Charities with Existing Property Donation Programs

Some charities have had property donation programs in place for years, but our research
demonstrates that the majority of these programs are not maximizing revenue. These
‘typical’ programs liquidate donated property by sale at auction in the ‘AS IS’ condition.
Most often, the providers of this service do not invest in the donated property or make
any effort to increase the sale proceeds for the charity. In these instances, property is
picked up and sold as quickly as possible.

ASC wants to REPLACE these programs with our unique value-added repair service and
INCREASE your CHARITABLE REVENUE.

Charities Without Property Donation Programs

ASC will assist with charities in establishing a property donation program to help
increase income. The ASC program is easy to implement and does not require additional
personnel or investment. ASC primarily acts as an arm of the charity to manage the
program on behalf of the organization. We only ask that the program be promoted
through announcements in monthly newsletters and direct mail, public relations
opportunities, and on the charity web site thus linking potential property Donors to the
ASC site.

Expanded Donor Opportunities

ASC provides liquidation services for a variety of property including, but not limited to;
automobiles, boats, jet skies, motor homes, campers and trailers, construction equipment,
motorcycles, etc. Additionally, ASC liquidates real estate and other high-value items
including collectibles.

Developing relationships with banks, leasing companies and affluent individuals is one
example of how ASC works for our charitable clients to generate higher valued
donations. Providing liquidation services for a large variety of products is yet another
way that ASC increases your potential for charitable income.

Significant Property Improvements and The Bargain Sale

ASC makes significant improvements to donated property whenever our assessment
determines that it will increase revenue for the charity client. These improvements
include property refurbishing, body and paint work, engine and transmission
overhauls/repairs, etc. ASC provides the capital necessary to make these improvements
and therefore DOES NOT REQUIRE THE CHARITY TO ADVANCE ANY FUNDS.

To encourage high-value property donations, ASC makes cash advances to owners. This
service is provided under the IRS provision known as the Bargain Sale, which permits
Donors to receive some cash along with the maximum allowable tax deduction.Like
property improvements, ASC does not require the charity to contribute to this service.

Comparison of proceeds generated by type of sale

Typical liquidation of property                       ASC property liquidation after repairs

Auto at auction………………$ 500.00                         Auto at retail…………. $ 1,500.00
Less: Towing ……… $ 100.00                             Less: Towing … $ 100.00
       Detailing………         00.00                            Detailing     55.00
       Replace fuel pump 00.00                              Fuel pump 160.00
       Labor cost          00.00                             Labor cost 60.00
       Administration fee 15.00                             Admin fee 15.00
       Auction cost       100.00                             Auction      100.00
Total expenses            - $ 215.00           Total expenses       - $ 490.00

Gross proceeds               $ 285.00           Gross proceeds        $ 1,010.00

Proceeds to Charity (split) $ 142.50            Proceeds to Charity (split) $505.00



Financing

Our available financing increases the quantity of purchasers for property donations. To
find out more about financing opportunities, click here.

Insurance and Contract

ASC provides client charities and their Board of Directors with exceptional
comprehensive liability insurance. The contract establishes an ‘Agency Relationship’
between ASC and the Charity so that the IRS will permit tax deductions for Donors. The
contract contains a provision permitting the Charity to terminate the contract without
cause at any time.

Advertising

ASC provides advertising for the benefit of our charitable clients at no charge. We utilize
a variety of print media such as; phone directories, newspapers, direct mail, public
relations and the Internet. Over half of all donated property originates directly from our
advertising.

Database Access

All ASC charity clients have 24/7 online access to the ASC database that contains all
pertinent information on the charity and the donated property. Designated individuals will
be given password-protected access in order to track the status of donations throughout
the liquidation process.

Some of the data included is listed below:
    client inventory
    property donor information
    liquidation stage (property in route, repair shop, retail lot, scheduled for auction
      (date)
      proceeds generated by unit sale
      amount scheduled for transfer to the charity
      transfer date

Payments to Charities

Charitable organizations can track the liquidation process of their donated property by
accessing the information through our online database. ASC prepares and forwards all
payments twice monthly. This method ensures that the charity will receive their sale
proceeds (mail or electronic transfer) consistently and on a standard schedule. Charities
will know in advance the amount being transferred during any given payment period.



ASC                           DEALERS
Are you an automotive dealer looking to liquidate your wholesale inventory? Do your
vehicles need repair services or detailing for a high-yield return?

Let ASC pick up your vehicles and help you earn more at auction!

Automotive Dealers

Wholesale Auctions

ASC conducts weekly automotive wholesale auctions for Dealers. ASC charges lower
auction fees and provides more services than competing liquidators. We provide vehicle
pick up and delivery, repair services, and detailing. With lower cost to you and more
services available, we believe that you will increase your profits with ASC.

Retail Auctions

ASC conducts weekly retail auctions for Dealers and the Public. In addition to the
services described above, ASC can provide an assessment of recommended repairs and
the related costs for servicing required for vehicles to pass Maryland State inspection.
Since ASC has large buying crowds at their auctions our Dealers can expect greater sales
opportunities.


ASC                           PUBLIC
Ready to avoid the hassle of property sales?

Take advantage of public consignments with ASC!

Public Consignments
Public Auction Consignments

ASC accepts property consignments from individuals and businesses who want to sell
their property at public auction. The property may be sold without any conditions or may
have sale stipulations. All sale stipulations are announced to bidders before the property
is offered for sale. ASC earns its income by charging a small fee to both the Buyer and
the Seller.

Consigning property to ASC for sale at public auction may offer the Seller a better
alternative than a private sale. Seller’s can avoid the time, hassle and cost associated with
advertising and price haggling by using ASC.

ASC maintains a database of all types of property for sale. If you are an individual or
business looking to make a specific property purchase, fill out the form provided and
ASC will promptly respond when we can fill your request.

Sometimes it is more beneficial for the Seller to ‘donate their property to a charitable
cause’ than it is for them to use consignment services. ASC will provide public clients
with a clear understanding of possible tax advantages they would enjoy should the
property be donated to charity instead of being sold outright.

								
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