Crowd Control Store donates $100,000 of traffic-control cones and physical distancing floor stickers for use in schools.
With schools reopening, the health and safety of teachers and students is a top concern for principals, superintendents and parents.
A timely gifts-in-kind donation to NAEIR by New York-based Crowd Control Store will help schools improve school safety.
A nonprofit based in Galesburg, Illinois, NAEIR is the National Association for the Exchange of Industrial Resources, the largest gifts-in-kind organization in the U.S. It offers commercial businesses the opportunity to receive a tax deduction by donating excess inventory to nonprofits, including schools.
The Crowd Control Store, which has served the people-guidance industry for more than 20 years, is the industry leader in crowd control products, such as barriers and traffic safety equipment. Recently, the company made a nearly $100,000 donation to NAEIR of traffic-control cones and physical distancing floor stickers.
“The donation is mainly going to schools, which will most likely be using the cones to block off parking areas during events, guide traffic through parking lots, protect students/pedestrians in bus loops,” said Adam Hart, director of ecommerce and digital marketing.
And with the COVID-19 Delta variant surging in many areas of the country, the round stickers will provide a brightly colored reminder to stay at least 6 feet away from others. “Distance responsibly,” the stickers advise. “Wait here for the next dot to clear.”
Schools can receive these items and other supplies from NAEIR for no cost except for a modest handling charge. NAEIR also offers teachers the same option so they can get some of the things their students need without dipping into their own pockets as they often do.
“NAEIR was the right solution for us at the right time,” Hart said. “We wanted to support an organization that was involved with giving back to the community. From our research, NAEIR had the best use case of our products, especially since it was for schools and children. We wanted to ensure our surplus products were being used for good and their intended use, instead of profit.”
NAEIR is a one-stop resource for companies looking to clear out excess inventory or discontinued items, with the assurance that their items will be used by certified nonprofits and that their branding will not be compromised.
Giving In-Kind is a Win-Win
In-kind donations not only benefit teachers, students and schools; they also can help a company’s bottom line while enhancing its reputation. Giving in-kind can generate positive PR while doing a good thing.
Section 170(e)(3) if the Internal Revenue Code states that when C Corps donate their inventory to qualified nonprofits, they don’t just receive a tax deduction: they can receive a tax deduction equal to up to twice the cost of the donated products.
Under the tax code, deductions are equal to the cost of the inventory donated, plus half the difference between the cost and fair market-selling price, not to exceed twice the cost.
For example, if your product costs $10 and you sell it in store for $30, the difference is $20. Half of $20 is $10. So, $10 (product cost) plus $10 (half the difference) equals a $20 deduction. As $20 does not exceed twice the product cost, it is an allowable deduction.
“We are excited to partner with the Crowd Control Store,” said Gary C. Smith, president and CEO of NAEIR. “It’s a perfect example of how even generous in-kind donations help us fulfill our mission to help nonprofits.”
NAEIR streamlines the in-kind donation process for companies. It has received donations of excess inventory from more than 8,000 U.S. corporations and redistributed more than $3 billion in products to non-profits and schools.
To learn more, contact NAEIR at 800-562-0955 or visit https://naeir.org/