A unique way to work off your excess inventory
By John Saban
Excess inventory is an inevitable problem. Manufacturers, distributors, and retailers otherwise efficient in their supply chain management often fail to find a strategic solution to this problem. Excess inventory buildups cost millions of dollars in warehousing, asset tracking and insurance coverage every year.
Donating excess inventory to a qualified charitable organization may be your best solution. Section 170 e (3) of the IRS Code allows business to reduce taxes by donating unwanted, slow-moving inventory to non-profit organizations that use non-cash donations to meet their mission. This cost-effective solution allows businesses to earn a generous tax-write off and support non-profit organizations without having to write a check.
A very experienced non-profit that can help you manage your excess inventory is Educational Assistance Ltd. (EAL). EAL accepts the widest range of excess inventory (finished goods, piece parts and raw material) that it utilizes to provide scholarships for needy students.
Unique Benefits to Donating to Educational Assistance Limited
- Obtain a charitable tax deduction
- Free-up warehouse space
- Avoid recurring inventory charges
- Help needy college students
A successful corporate executive started Educational Assistance Ltd. in 1982 as a community payback for the college scholarship that he received. To date EAL has provided over 8000 scholarships to needy students. The current executive director of EAL was the first needy student helped through the scholarship program and is a testament to the success of this program.
Knowledgeable industry professionals with extensive inventory, product and logistical expertise staff EAL. Donating to EAL is an easy process, just call 630-690-0010 or email [email protected]. You will be helping your company and the community!