Many OEMs in the Electronics industry are facing large excess inventory issues in this economic climate. One solution not readily available is the ability to donate these electronic components to a non profit who is capable of receiving this unique inventory. Except We Care, Inc. provides this service and recently received a large donation from Microtips Technology, a leading LCD Display Manufacturer. Microtips was able to receive a dual benefit of receiving a tax donation and in turn help others who are in much greater need than we are in the US.
George Van Driessche stated, "Daniel McMillen is an old business colleague of mine. He and I always worked well together and I was disappointed when I heard he had left one of my distributors. I was thrilled that we kept in touch, and once I heard what he was doing with his non profit company, I was eager to help any way I could."
"Companies who work with non profits, such as Microtips Technology, look at the larger picture and value utilizing what they do everyday in the business world to benefit others. We are indebted to their vision and generosity for their recent donation to Except We Care", stated Daniel McMillen, President of EWC.
One significant benefit to OEMs is the ability to donate inventory that is excess, not moving, or returned and receive a tax write-off that can be carried forward for up to 5 years. This gives an OEM much greater flexibility than depreciating this asset over time, especially when many corporations are looking at posting annual losses over the next few years. The carry forward option allows you to take full credit in years you are profitable.
