How iDonate handles non-cash transactions
Before we talk about how to communicate with staff and donors about non-cash donations, let's give some context to that conversation.
How Non-Cash Donations Work
When your organization receives a noncash donation, iDonate leaps into action. We've developed an incredible network of support in order to accept assets of value from all over the nation.
Once the asset is received by one of our partners, it's sold and the proceeds go to your organization. The amount of money your organization receives is dependent on the secondary market. As such, the assets are subject to changing values and the laws of supply and demand. For example: A smartphone may be worth $50 one day and $10 the next depending on dozens of factors.
Things to Keep in Mind
Electronics are especially vulnerable to changes in value because of how often new models of smartphones, laptops, and tablets are introduced; how many people own them; and how quickly people replace their current electronics. As a result, generally, only the most recent generations of smartphones, tablet, and laptops have much financial value.
However! Smartphones and electronics can be donated in bulk of 20+ items which is a great way to acquire new donors and is hugely valuable to your organization.
Jewelry is typically valued on the quality and weight of the metal/stones, not the craftsmanship of the piece. Because jewelry is so dependent on individual tastes and preference, it's impossible to recoup the value the donor may have originally paid for it.
Vehicles are subject to regional differences in value, as well as mileage; interior and exterior condition; and obviously the year, make, and model.
For any questions regarding the work that goes into converting noncash donations into liquid assets for your organization, please contact the iDonate Success Team at 1(877) 410-4431.