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FOR IMMEDIATE RELEASE CONTACT: EMILY COLLINS
COMMUNICATIONS ASSOCIATE
309-343-0704 ext. 205
309-343-3165 (Fax)
ecc@naeir.org
Tax Time Is Just Around The Corner, So Clear Out
That Inventory Now
Does your company’s fiscal year end December 31? That date is quickly approaching, so what are you going to do with the excess inventory that is sitting in your warehouse? There is a nonprofit gifts-in-kind organization that will accept donations of new, overstock, or discontinued products and redistribute them to schools and nonprofit organizations nationwide. The National Association for the Exchange of Industrial Resources has been in business since 1977 and would be glad to take those items off your hands.
Your donation would not only go to a deserving organization, but it would also earn your organization an above cost income tax deduction. The Internal Revenue Tax Code Section 170 (e)(3) states that a regular C corporation can earn a tax deduction of up to twice the cost of the goods. An S corporation, partnership, or sole proprietorship would earn a straight cost deduction. You would be joining over 7,000 other companies that have made donations valued at over $2 billion over the past 26 years.
Don’t wait until the last minute to make your donation! Call NAEIR’s Corporate Relations Department at 1-800-562-0955 or e-mail donor@naeir.org.
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