Computer Donation Benefits
Tax deductions are only one of many benefits received from donating computers and peripherals. Other benefits include:
- no more struggling to find an effective method of disposing of your outdated computer equipment
- no more outdated computer equipment utilizing space at your home or business
- your old computers, printers, switches, routers...go to good use for those in need and creates new avenues for advancement in education and/or vocational environments
- proceeds from the sales of your equipment go to organizations assisting women & children in crisis to include: Dekalb Rape Crisis Center & The YMCA Partner With Youth Program.
- the process of donating is greener and more environmentally friendly than dumping or recycling your machine
- no hassles or haggling over trying to sell or trade in your computer
- donors are given a receipt indicating fair market value of the equipment for tax deduction purposes
Thanks for considering donating your used computer equipment to The Onyx Consulting Foundation. For information on how to donate please visit our Donations page. Here you can make equipment and cash donations to support our cause.
Donating is easy! Please don't hesitate to contact us for further information.
IRS Rules for Donating Computer Equipment
What are the tax benefits for donations by individuals?
For individuals, the charitable deduction for contributions of technology equals the fair market value (retail used value in the current market place) of the donated property. The donation is tax deductible for the year in which our organization receives the equipment. Shipping costs are also tax deductible under applicable rules and regulations.
What are the tax benefits to corporate donors?
The IRS code provides for a tax deduction for property donated to a charitable organization such as The Onyx Consulting Foundation under applicable rules and regulations. For Corporate donors, tax deductions are usually limited to the amount of the donor's tax basis in the property contributed (Exceptions may apply, consult your tax advisor).
The donation letter provided to you by The Onyx Consulting Foundation will reflect the year in which our organization receives the equipment. Warehousing and shipping costs are also tax deductible under applicable rules and regulations.
What are the special benefits to corporate Donors for donations of inventory?
Under IRS Section 170(e)(3), corporations that donate inventory (i.e. Property sold in the normal course of business) to certain charitable organizations, may receive an additional tax benefit. Section 170(e)(3) provides a deduction for corporate contributions of inventory as much as twice the donor's adjusted basis in the property.
The charitable deduction for contributions of inventory (from a C corporation) will be the total of the donor's tax basis in the donated inventory plus one-half of the difference between the inventory tax basis and its fair market value. This is limited to 200% of the inventory tax basis plus any incidental costs (i.e., shipping, warehousing) associated with donating the inventory. If the fair market value of inventory is less than the donor's tax basis in the donated inventory then the charitable deduction should be equal to the fair market value.
Consult your tax advisor for consideration of this option.
A list of common donated items might include: PC & Mac Desktop Systems, PC & Mac Laptop Systems, Copy Machines, Digital Cameras, Pen/Drawing Tablets, Flatbed Scanners, Handheld Scanners, Monitors (LCD only), Switches, Routers, Plotters, Printers, Tape Backup Drives. Requirements for Donation
I'm not a Corporate donor, can I still help?
Yes! In fact, individual donors like you are what allow us to help so many people all over the metro Atlanta area. The Onyx Consulting Foundation provides tax deductions based on fair market value for individual donors as well as large companies. Shipping costs are also tax deductible under applicable rules and regulations.