All a company has to do is identify products that could potentially take up much needed warehouse space and donate them to The National Association for the Exchange of Industrial Resources in Galesburg, Ill.
NAEIR is a nonprofit organization that has accepted donated materials since 1977 and distributed them to deserving schools and nonprofits nationwide.
Under Internal Revenue Tax Code Section 170 (e)(3), companies making contributions could receive an above cost income tax deduction that could be up to twice the cost of the goods.
Products eligible for donation include discontinued models, styles or colors, returns, buybacks, cancelled orders, and slow sellers. NAEIR accepts new items in any of those categories from cosmetics to construction materials.
To find out more about this process, call 800 562-0955, or e-mail [email protected].
Source: The National Association for the Exchange of Industrial Resources