|

1. What kind of items can be donated? 2. iDonate charges a fee for this service. Wouldn't my charity be better off if I just sold it and donate the money directly? 3. What if I donate an item that iDonate can't sell? 4. Once I donate an item, who then owns it? 5. What tax benefits might I realize by donating items that are no longer useful to me? 6. Who provides me with my gift receipt for tax purposes? 7. What makes iDonate unique? 8. Why not set this up ourselves within our charitable organization? 9. I want to give. What do I need to do?
1. What kind of items can be donated?- Vehicles - cars, boats, RVs
- Timeshares
- Jewelry
- Collectibles and antiques
- LLP, LLC, Partnership Interests
- Real Estate
- Publicly traded stock
- Corporate Inventory
- Equipment
- Airplanes
2. iDonate charges a fee for this service. Wouldn't my charity be better off if I just sold it and donate the money directly?You can do this as well. In the end, the bottom line is that your favorite charity would receive desperately needed operating capital. It might be that, as a donor, you have a special situation where you can convert your donated item more effectively than iDonate. In that rare case, your charity might be better off if you did sell it yourself and give them the money directly.
However, consider the following:
- How much of your most valuable asset (your time) will it take you to do this?
- How much is your time worth?
- Are you confident that you can get the highest price for the donated item?
- How much will it cost you get appropriate appraisals (if needed), list the item for sale, interface with potential buyers (and un-potential buyers), handle funds, etc.
iDonate was created solely to support selected non-profit organizations in creating a new funding source while simultaneously not taking the donors time, or the non-profit?s highly limited resources. 3. What if I donate an item that iDonate can't sell?Once you donate the item to your favorite charitable organization, they become the owner of the item. In the rare event an item is accepted by iDonate on behalf of your favorite charitable organization but the item cannot be sold the first time, iDonate will attempt to sell the item a second time using the same or an alternate market.
If after two attempts a sale is still not procured, iDonate at its discretion may attempt to liquidate the item again. If the item does not sell then iDonate will contact the represented charitable organization inquiring as to whether or not they would like to pick up the unsold item. If the non-profit does not make arrangements to pick up the item within 15 days, iDonate will donate the item to a non-profit charitable organization of our choice. If no charitable organization would like the item, iDonate reserves the right to dispose the item in any manner we deem appropriate. iDonate will never take ownership of any donations made to our non-profit partners. 4. Once I donate an item, who then owns it?Upon receipt or pickup of your donated item by iDonate, your favorite charitable organization becomes the owner of the item. iDonate provides the turn-key liquidation service for your favorite non-profit (e.g. merchandise pick up, inventory, auction, shipping, conversion into cash), but ownership remains with the charity. 5. What tax benefits might I realize by donating items that are no longer useful to me?In USA, most often the 'fair market value' of the item can be deducted. Depending upon market conditions, the fair market value is often quite higher than the actual selling price. In many cases, when you factor in the value of your time, the tax donation benefit can often outweigh trying to sell the item yourself.
With the exception of marketable securities, donor's who wish to claim a tax deduction for donated items of non-cash gifts exceeding $5000 must substantiate the valuation with an expert appraisal - which iDonate will entirely facilitate and pay for.
However, tax guidelines are highly specific and change regularly therefore iDonate strongly recommends that you consult your tax advisor for individual and specific detail. 6. Who provides me with my gift receipt for tax purposes?Your favorite non-profit charitable organization will provide you with your 'gift-in-kind' tax receipt. However, iDonate will deliver the gift receipt to you via email upon inventory and confirmation of your donated item. 7. What makes iDonate unique?iDonate partners solely with non-profit organizations (NPO) providing them a 'complete turn-key' donor asset conversion service for items valued as low as $75, which allows the NPO access to cash they would not otherwise obtain. Today, iDonate is the leader to the NPO industry in providing donors a convenient new way of giving, converting the donation into cash, and supplying NPO's with a much needed new source of revenue- without the NPO having to incur risk or draw on their limited resources.
The following are some of the services iDonate provides our NPO clients with no out-of-pocket expense:
- Donor marketing materials and collateral
- Website interface and call center support
- Certified appraisals when required
- Administrative requirements - paperwork such as 'gift-in-kind' receipts
- Logistical processing - shipping, pickup, storage, etc.
- Liquidation & conversion to cash
- Financial processing - funds transferred to non-profit
- Reporting - Online, real-time, detailed accounting
- Appreciation & Recognition - 'thank you' program
- Follow-Up - Recurring donor program
There is no learning curve, product research, shipping and handling, collection risk, taxation, legal or other complicated administrative procedures for the non-profit.
The bottom-line is iDonate expands the giving options for our selected NPO clients, essentially providing them with 'found' revenue they currently do not have access to today.
iDonate is the only not-for-profit organization dedicated to assisting individuals, non profit organizations and businesses to liquidate such a broad array of non-cash assets entirely for community and global good. With our years of experience and team of specialists, we are uniquely positioned to create the greatest value for the donation while providing constant and reliable client service throughout the entire process. 8. Why not set this up ourselves within our charitable organization?You can. However, in most cases you will find that going through iDonate will be less expensive, quicker, easiest on the donor and raise more money for the cause your charity is fighting for.
Our job is to convert excess, unused donor assets into cash. We have all our resources focused on this mission and this creates efficiency and expertise. This allows us to keep both costs down get a higher sales price for the items we liquidate. It also allows your charitable organization to remain focused on their specific mission goal of helping others.
9. I want to give. What do I need to do?This is the simple part. Just click on the 'Donate Now' link and complete the brief form. It's very easy to fill out and should take you about 2 minutes to complete.
Or, all us at 503 345-9770 or 888 90-DONATE let us know what you would like to donate.
|