The Habitat for Humanity ReStore accepts donations from a variety of sources. Families and individuals donate used furniture and appliances, and local businesses donate excess inventory like filing cabinets and light fixtures. ReStore also accepts donations as large as warehouses full of home improvement goods, which might otherwise go to a liquidator.
Bulk Donations to ReStore
When an importer or warehouse owner is re-configuring supply chains or closing their business, options may look limited. One route is to sell off the goods at a discount to a liquidator. This is less than ideal, as a liquidator may pay just pennies on the dollar for high-quality items. A great solution is donating to ReStore for a tax write-off. By donating, the total value of the goods can be written-off of taxable income for your business. The potential savings here are likely even greater than what a liquidator would pay. As an approved nonprofit, ReStore can provide the necessary paperwork to claim the value of the donation. However, donors are responsible for completing the necessary tax forms to take advantage of their tax write-off.
A Generous Warehouse Donation
Recently, ReStore received a warehouse donation from Royola Pacific, a prominent supplier of traditional and modern home goods from Asia. In the midst of a business transition, Royola sought to clear out their Fremont warehouse, while minimizing losses. By donating the inventory of their nearly 100,000 square foot location to ReStore, Royola was both financially savvy and philanthropic. Royola Pacific will avoid paying taxes on the value of that inventory and ReStore will have an abundance of beautiful new decor and furniture in our stores for months to come. This is an example of a winning partnership that benefits the community!
In January, Habitat for Humanity dedicated the first phase of our Central Commons development in Fremont, a few miles away from Royola Pacific’s warehouse. The development will provide a safe and affordable place for 11 families to call home. Projects like Central Commons would not be possible if it were not for the generosity of our donors.
View these quick links* for more information:
* Please talk to a tax professional about specific tax-related questions. The Habitat for Humanity ReStore is not providing tax advice.