Evola Music Center Donates 3,600 Instrumental & Song Books to NAEIR

Evola Music Center, a Michigan-based company, is a third generation family business.   When they were left with some overstock, owner Jim Evola searched for a way to put the music books into the hands of people who would love them. That’s when they came upon NAEIR (National Association for the Exchange of Industrial Resources), a gifts-in-kind organization.

“We connect companies looking to donate products with nonprofits who can benefit from them,” explained Gary C. Smith, president and CEO of NAEIR, the largest gifts-in-kind nonprofit in the United States.

NAEIR’s specialty is receiving donations of excess inventory from corporations like Evola, and then redistributing them to member schools, churches, and charities. The corporations receive a tax deduction equal to up to twice the products’ cost. The nonprofits pay only shipping and handling, plus a modest membership fee. 

For companies like Evola Music Center, it’s a smart way to put excess inventory to good use, without discounting valuable product. And it allows those companies to connect their products with people who can truly use them.

“With the connections NAEIR has to churches, schools, civic and senior organizations, it seemed like a great way to get our music books into the hands of people who might appreciate learning to play or sharpening their skills on an instrument,” says Jim Evola.  

The donation included a variety of instrumental method books and song books for band instruments, piano and strings.  There was a good variety of music books for all levels of students, and some beyond the student level.  The method books are good for developing techniques and styles.  

The music books will appear on NAEIR’s website, http://www.naeir.org, along with other product donations available to member nonprofits. To date, NAEIR has received donations of excess inventory from more than 8,000 U.S. corporations and redistributed more than $3 billion in products to nonprofits and schools.

By donating new, excess inventory to NAEIR, businesses like Evola can earn a federal income tax deduction under Section 170 ( e )(3) of the U.S. Internal Revenue Code.

The IRS Code states that regular C corporations may deduct the cost of the inventory donated, plus half the difference between cost and fair market value.  Deductions may be up to twice-cost. Companies that are an S corporation, partnership, LLC or sole proprietorship qualify for a straight cost deduction.

Usually there are no restrictions on how much a company donates. Donations may be as small as one box or as large as dozens of truckloads.  

Says Jim Evola, “My company has deep family roots, so knowing products we put our heart into could bring smiles to the faces of music lovers means the world to us.”

www.evola.com

Related Link: 

www.naeir.org