RetailROI launches database for retailers to donate overstocked goods to local charities
New York City -- The Retail Orphan Initiative (RetailROI) has launched an online charity locator to match up retailers looking to donate overstocked merchandise with local charities, thus receiving a potential tax deduction for items that were not going to be selling at a profit.
"Retailers' overstocks can make a huge difference," said Greg Buzek, president of IHL Group and Donor Trustee for the Retail Orphan Initiative, a charitable foundation under the umbrella of the Giving Back Fund, established to help the 400 million orphaned and vulnerable children worldwide. "By cleaning their stores of the items that aren't selling and getting their employees focused on the items that are, they help women and children in need - providing a lifeline that brings long-term dividends to the community.”
The charity locator features an interactive map of nearby charities from a RetailROI-developed database of 501c3 organizations across the country that focus on at-risk children, women in distress, or families in need. It includes the top 125 cities and top 300 largest malls in the United States, with information on types of items each charity accepts, including clothing, food, furniture, building materials and educational materials.
According to ROI, the vast majority of the estimated $65 billion overstocks are in small lots at local stores, making it costly to consolidate this merchandise. Retailers spend an inordinate amount of labor and cost on printing new price tags for items they know are not selling, often compounding a loss by adding more cost. Worse yet, the retailers often sell those items at a loss to consolidators, incurring more cost in shipping.
RetailROI's charity locator is available online at retailroi.org/charity-locator.