January 26, 2015
Most companies seem to have excessive pallets of merchandise that is either overstock or past dated. It’s taking up space that could be better used and benefit others.
There is an easy way to rid your organization of that unwanted stock and reap the benefits on many levels. Product philanthropy is aimed at C Corporations yet many of them have never even heard of this section of the tax code.
According to IRC Section 170(e) (3), when C Corps donate their inventory to qualified nonprofits, they can receive a federal tax deduction equal to up to twice the cost of the donated products. Read more