Sustainable bamboo towels and insulated lunch bags will go to families in need.

GALESBURG, ILLINOIS, UNITED STATES, January 5, 2022 /EINPresswire.com/ -- NAEIR, the National Association for the Exchange of Industrial Resources, announced a generous gifts-in-kind donation by The Parent Diary (www.theparentdiary.com), a retailer of eco-friendly products for families.

The Parent Diary provided 68 of its absorbent bamboo-rayon hooded towels and 300 of its insulated lunch bags to NAEIR, which collects unused inventory from American companies and makes it available to schools and nonprofits for little to no cost.

“After much research and correspondence with various charitable organizations, I was thrilled to be connected with NAEIR, said Michele Collison, founder and CEO of the Homewood, California based company. “They were extremely knowledgeable and a great resource, assuring me that our products would go to families in need.”

“Generous companies like The Parent Diary have helped NAEIR successfully provide efficient inventory management solutions to businesses and much needed support to schools, churches and non-profits for over 35 years,” said Gary C. Smith, NAEIR president and CEO. “We are proud to add Parent Diary to our family of donor companies.”

With its mission of saving the earth for future generations, The Parent Diary sells eco-friendly products that are practical, durable and sustainable. Other products include 100 percent silicone lunch kits, stainless steel cups for kids, food storage solutions and a placemat-dinner plate combination with sippy cup holder.

In 2022, The Parent Diary will change its name and become ErthOne. They will continue to design and expand their selection of sustainable products.

Giving In-Kind is a Win-Win

A nonprofit based in Galesburg, Illinois, NAEIR is the largest gifts-in-kind organization in the U.S. It offers commercial businesses the opportunity to receive a tax deduction by donating excess inventory to nonprofits, including schools, homeless shelters and churches.

Section 170(e)(3) if the Internal Revenue Code states that when C Corps donate their inventory to qualified nonprofits, they don’t just receive a tax deduction; they can receive a tax deduction equal to up to twice the cost of the donated products.

Under the tax code, deductions are equal to the cost of the inventory donated, plus half the difference between the cost and fair market-selling price, not to exceed twice the cost.

For example, if a product costs $10 and sells for $30, the difference is $20. Half of $20 is $10. So, $10 (product cost) plus $10 (half the difference) equals a $20 deduction. As $20 does not exceed twice the product cost, it is an allowable deduction.

NAEIR streamlines the in-kind donation process for companies. It has received donations of excess inventory from more than 8,000 U.S. corporations and redistributed more than $3 billion in products to non-profits and schools.

To learn more, contact NAEIR at 800-562-0955 or visit www.naeir.org.

Joanne Levine
Lekas & Levine PR
joannepr@aol.com