Have you ever heard about donation? Retail clothing stores face the same situation every year – a surplus of last season’s styles in one way or in another. These are great news for consumers, because prices on these clothing are typically well below retail prices as they need to make space for the new lines. But what with the off season items that remain unsold on the retail shop shelves? What if there isn’t enough room for them once new products arrive? Store owners facing these questions can make a donation of their overstock to a worthy charitable organization.
In many cases, a sizeable donation will benefit as many people possible. If making a sizeable donation, contact your tax advisor first thing to discuss how the donation would impact on your taxes.
Spend some time researching potential organizations that shall maybe take a donation. There are countless organizations that are ready to take donations of clothing. When choosing an organization, make sure the organization is non profit, as this ensures maximum tax-benefit of donating. Contacting large national organizations may be easier, but it is worth to research smaller organizations too. The internet is generally the best source for getting the right researched information. Don’t forget to consult your local phone book. Chances that you already know somebody in some sort of connection to a local charity are highly probable!
Once a non-profit organization is found, obtain a single point-of-contact with the organization so this person can organize receiving of the donation, which can be arranged to take place at your warehouse most probably. It would be good that way. A good idea is to provide a list of the donation with wholesale value.Donation list will help you to document it in you records, it will also be a good tool for the charity to reference. Be certain to discuss the letter’s significance with your point-of-contact before making a donation, and as soon as the donation is made be sure the letter is generated on time.
Donation is a very nice gift. There are many people out there who are in need. We can help them. It is always better to give than to receive; or to help and not to be helped. Donations are a part of everyday life and it is nice to see someone helping and not caring only about the profit.