If your organization has 501(c)3 approval from the IRS, the value of those donations are tax-deductible to the donating business. If you're not 501(c)3, I'm not sure. Your state revenue department may also have some tax designation that may be helpful. You might try contacting them.
B. J. Green
Date: Thu, 10 Oct 2013 11:55:55 -0400
From: matt@uticabikerescue.org
To: thethinktank@lists.bikecollectives.org
Subject: [TheThinkTank] Donations from Businesses
ThinkTank,
I have been trying to research this and I'm not really finding a complete answer. Perhaps some of you have personal experience/knowledge that can help. There is a bike shop in my City that has a stockpile of used bikes in a warehouse and they've expressed some interest in donating them to our community bike shop. Does anyone know specifically what the tax advantages are for the business that donates? I know how it works for individuals but I don't know how it works for a business.
Does anyone have epxerience with this?
Thanks,
Matt
--
Matt VanSlyke
Utica Bike Rescue
714 Washington Street, Utica, NY 13502
Learn. Earn. Ride.
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