Does Enterprise2000 have a charitable program?
Yes. Enterprise2000 believes that giving back to our communities is an extremely important value of the Company and we are pleased that our many associates have a long history of sharing that value. Enterprise2000 has set up an excess inventory program as a means of support for registered, non-profit organizations that fit within our philanthropic focus and meet our guidelines of helping one child at a time.
What is the focus of Enterprise2000?
The primary areas of focus include supporting organizations whose major purpose is helping, mentoring and nurturing children as well as improving their education.
Who do you support?
Enterprise2000 currently supports The Make-a-Wish Foundation, Boys & Girls Club, and JAFCO in our home office community.
Do you sponsor children’s fundraising?
We have established guidelines for our efforts and we support events and causes for the referenced organizations.
What are the tax benefits for a manufacturer?
A manufacturer is entitled to an enhanced deduction for a charitable contribution of inventory if the ultimate recipient falls into a special category. Contribution of inventory to a charitable organization that uses the property in its exempt function “solely for the care of the ill, the needy, or infants” results in a deduction not only for the cost of such inventory, but also for up to half the difference between the inventory’s fair market value (FMV) and its cost, limited to twice the cost.
Generally, a corporation’s charitable contribution deduction is limited to 10% of taxable income. However, in the case of a donation of pajamas for which the enhanced deduction is not claimed, a charitable contribution would not be claimed for the inventory’s cost. Instead, the cost of such current inventory items would be treated as part of the corporation’s cost of goods sold for the current year. Thus, in the unlikely event that a corporation is otherwise barred from claiming a deduction for a contribution of cash because it has already reached its deduction limitation, it can still achieve the same tax result by donating current inventory.