• Dates - Redeemed gift certificates, without readible redemption dates, may be filed as January 1 or December 31 of the year in which redeemed.
• Donors and Donations - When donated clothing arrives, a receipt is offered to the donor without valuation. The donor is permitted by the I.R.S. to use several methods of value. The I.R.S. permits deducting the donated items at thrift shop prices. A local financial planner suggests using a fair market value based on mall purchase price and condition, which may be 20% of original retail. Many customers use the popular tax software program Turbo Tax and its companion tax deduction valuation software, which uses a national thrift shop valuation higher than Basic Needs prices. This is a benefit to donors.
• Free to Clients - Our warehouse prices average 90% off retail. When we give something away, we value the free goods at mall prices or at ten times our low warehouse prices and sales tax. This is what the community churches, schools, and individuals usually pay when they take the needy to traditional retail stores for clothing. This is a benefit to our clients. It is also a savings to our community organizations and individuals. We only count it once.
• Sales to the Public - When we sell something in the warehouse at our low prices, the savings between retail store and thrift prices is estimated at nine times our low retail prices and sales tax. This is a benefit to our customers.
• Inventory - A physical inventory is taken annually. The inventory, with any gain, or loss during the reporting period is valued at our low prices.
• Adjustments Taken - Pre-inventory adjustments are taken when Basic Needs must dispose of poor quality donated goods, which are valued at the usual low prices, as in our inventory.
  • 33 gallon garbage bags - fill - typical weight 40 pounds - average 132 items - average tax value $3.71 each - total estimated value $489.72
  • 50 gallon garbage bags - fill to 6.6 cu. ft. - typical weight 60 pounds - average 200 items - average tax value $3.71 each - total estimated value $742
  • 6 cu. yd. yard dumpster - 162 cu. ft. - typical load weight 1,472 pounds - average 4,909 items - average tax value $3.71 each - total estimated value $18,212.72 (counts can vary depending on sizes of donated items and compression)
  • 8 cu. yd. yard dumpster - 216 cu. ft. - typical load weight 1,964 pounds - average 6,545 items - average tax value $3.71 each - total estimated value $24,283 (counts can vary depending on sizes of donated items and compression)
    Full - 6,545
    7/8 - 5,727
    3/4 - 4,909
    5/8 - 4,091
    1/2 - 3,273
    3/8 - 2,455
    1/4 - 1,637
    1/8 - 819
• Cash - Direct cash gifts to residents are simply totalled. This is a benefit to the client.
• Total - Total of various community benefits - The combination of Donation, Free, Sales, and Cash.

Not counted

• Prescription Drug Discounts - While reported, they are not included in annual totals, because we cannot separate our numbers from other agencies.
• Mileage saved - Basic Needs saved clients from driving to Raleigh or Smithfield for free clothing or food
• Wages saved - With our evening and weekend hours, many of our clients are not forced to take a weekday off and pull their children out of school to get free clothing or food
• Landfill Savings - This is a savings to taxpayers for the cost of operating a convenience center and the related landfill cost to the county. Johnston County reported the cost at $92.50 per ton on its 2003-2004 Local Government Annual Report. Basic Needs does not report this benefit, even on those items diverted out of the country.