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Financial Impact
Surplus Food Can Still Have Financial Value. Unsold food represents a cost to your business.
Donation provides an opportunity to put that food to good use while potentially recovering additional financial value.
Enhanced Federal Tax Benefits
Qualifying businesses donating eligible food inventory to qualified nonprofit organizations may be eligible for an enhanced federal tax deduction under IRC Section 170(e)(3).
Determining and documenting that benefit requires accurate information.
That’s where FDC helps.
From Donation Data to Financial Information
FDC can capture the information needed to calculate donation values, including:
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Item/SKU
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Quantity
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Product cost
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Retail value
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Donation date
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Donating location
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Qualified recipient organization
FDC’s services can also include donation valuations, recipient documentation, required signatures, Form 8283 support, and period and annual reporting.
Don’t Just Measure Pounds. Measure Value.
Knowing how many pounds your company donated is important.
Knowing what was donated, what it was worth, and the potential financial impact provides an entirely different level of insight