If you haven’t dipped your organization’s toes into the noncash waters, OR if you’re already promoting noncash donations, but you’re bone dry when it comes to new ideas for growing that channel, then 2019 is the year to wade on in.
WHY SHOULD I ACCEPT NONCASH GIFTS?
Not sure it’s worth it to open a new giving channel?
It is! 90% of people’s wealth is in their stuff. And organizations that are equipped to take advantage of this fact get a share of the $43.6+ billion pie in noncash gifts that are donated every year. Considering the good news below, this is truly a WIN-WIN situation.
When you partner with a trusted, experienced liquidator, you create an additional revenue stream with ZERO additional work.
HOW DO I GET EQUIPPED?
Here’s the beautiful part – you don’t have to get equipped because we are!
The inherent learning curve, risk, and heavy administrative burden of managing all that stuff make it prohibitive to many organizations to accept and liquidate noncash items. So, iDonate Charitable Foundation does all the work for you!
You don’t have to:
- Store or dispose of unsellable items
- Find buyers or sellers
- Manage accounting, preparing titles, or receipting
- Worry about IRS compliance
- Arrange or pay for transit/shipping
- Take on the risks, including whether you’ll net a profit after all these factors are managed
WHAT ARE THE BENEFITS TO MY NONPROFIT?
Because the donation is handled through your online iDonate giving form, the entire process is facilitated by an iDonate representative. You don’t have to be involved in any part except cashing the check once the item is sold!
There are no guarantees on the amount of revenue you can expect, of course, but we’ve seen some amazing donations, including:
- Movie posters ($1,500)
- Rolex watches ($5,800 and $9,000)
- Madame Alexander dolls ($900)
- Gulfstream RV ($8,500)
- Wellcraft boat ($55,000)
- A1 Diesel Pusher (almost $100,000)
- Corn ($850,000 over a 5-year period)
- Designer purses ($500 – $1,000 each)
- Miscellaneous items that provided 175,000 Bibles
HOW DOES NONCASH BENEFIT DONORS?
It’s easy for them, too.
Just as with cash, donors gain tax deductions for their donations. But with noncash they can enjoy helping their favorite causes even if they are cash-strapped and dispose of items they no longer need without having to manage all those tasks we mentioned above. iDonate takes care of all the details!
WHAT’S THE BIGGEST CHALLENGE?
Most people will not assume your organization accepts noncash items. We’ve found that many organizations don’t adequately publicize their ability to accept noncash gifts. That’s why we’ve created a new resource with ideas for engaging your donors to donate their high-value items.