Does your company’s fiscal year end Dec. 31? That date is quickly approaching, so what are you going to do with the excess inventory that is sitting in your warehouse? There is a nonprofit gifts-in-kind organization that will accept donations of new, overstocked, or discontinued products for redistribution to schools and nonprofit organizations nationwide.

The National Association for the Exchange of Industrial Resources (NAEIR) has been in business since 1977 and can take those items off your hands. Your donations would go to a deserving organization and can also earn your organization an above cost income tax deduction.

The Internal Revenue Tax Code Section 170(e)(3) states that a regular C corporation can earn a tax deduction of up to twice the cost of the goods. An S corporation, partnership, or sole proprietorship would earn a straight cost deduction.

For more information or to make a donation, call NAEIR at (800) 562-0955 or email donor@naeir.org.