Acceptable Donations - Goodwill of the Heartland (2024)

FAQs

Acceptable Donations - Goodwill of the Heartland? ›

Antiques and collectibles: Specialty items can be offered through our online auction site, Shopgoodwill.com. Clothing: All sizes, styles, and conditions. Clothing not suitable for resale can be recycled. Computers: Bring computers and computer-related peripherals to any Goodwill store or donation bin.

Goodwill accepts donations of gently used items

Donations should be clean, safe and resaleable. Your donations to Goodwill are tax deductible.

What about my hard drive? Our technicians pass background checks before they begin working on donated items, and we clean all data left on the hard drive to Department of Defense standards on any device for resell. Hard drives are destroyed on recycled items.

Rating Information

This charity's score is 100%, earning it a Four-Star rating.

The cost of buying, building, or manufacturing property similar to the donated item may be considered in determining FMV. However, there must be a reasonable relationship between the replacement cost and the FMV. The replacement cost is the amount it would cost to replace the donated item on the valua- tion date.

Dirty or Unwashed Clothes: Clothes that are dirty or unwashed may not be suitable for donation. It's important to provide clean and hygienic items. Single Socks or Shoes: Single socks or shoes without a matching pair may not be useful. Charities often prefer items that can be immediately used.

How much can I deduct for household items and clothing? You can deduct the amount based on a percentage of your Adjusted Gross Income. The fair market value of donated items in good or used condition can be claimed as a deduction on your tax return. You can claim a deduction of up to 60% of your Adjusted Gross Income.

If your old device contains extremely sensitive data, or you just want to be extra careful, you may want to remove the hard drive and physically destroy it. A few good whacks with a hammer or a couple of holes drilled through the disc will do the trick.

Removing and dismantling the hard drive from a computer is the most effective way to destroy data permanently. Research the recycling methods behind the organization you decide to go with. Not every organization holds the proper certifications and processes to protect your data.

How much is the CEO of goodwill worth? ›

Steve Preston is the CEO of Goodwill. He received total compensation worth $1,188,733, including a base salary of $350,200, bonuses worth $87,550, retirement benefits of $71,050, and $637,864 in other reportable compensation.

“Goodwill's rising prices can be attributed to several factors,” said Casey Jones, founder and head of marketing and finance at CJ&CO. “Firstly, the cost of operations — including rent, utilities and wages — has increased over time. Secondly, the quality and brand of donated items can also influence pricing.

According to the Internal Revenue Service (IRS), a taxpayer can deduct the fair market value of clothing, household goods, used furniture, shoes, books and so forth. Fair market value is the price a willing buyer would pay for them. Value usually depends on the condition of the item.

The Bottom Line. Charitable contributions must be claimed as itemized deductions on Schedule A of IRS Form 1040. The limit on charitable cash contributions is 60% of the taxpayer's adjusted gross income for tax years 2023 and 2024.

Regular 30% Limitation

Non-50% charities include veterans' organizations, fraternal societies, nonprofit cemeteries, and certain private non-operating foundations. Regular 30% contributions are limited to the lesser of: 30% of AGI, or. 50% of AGI reduced by all contributions to 50% charities.

You can deduct every goodwill charitable contribution you make from your taxable income. While this deduction doesn't affect self-employment taxes, it does help when paying income taxes.

A happier, longer life

People usually donate because it feels good to help others, and altruism and volunteering have been linked to positive health outcomes, including a lower risk for depression and greater longevity.