With their equipment when they close down? Do they sell it?
I have storage space avaiable for cheap.
No, My School Cheer Coach Is Looking Into Buying Us Some Mats To Practice On! But As Of Now We Cant Get Them Because Their Too Expensive So We Were Looking For Some Cheap Ones! So I Thought Maybe We Can Buy Some Or Have Some Donated From Someone That No Longer Needs Them.
With their equipment when they close down? Do they sell it?
I have storage space avaiable for cheap.
No, My School Cheer Coach Is Looking Into Buying Us Some Mats To Practice On! But As Of Now We Cant Get Them Because Their Too Expensive So We Were Looking For Some Cheap Ones! So I Thought Maybe We Can Buy Some Or Have Some Donated From Someone That No Longer Needs Them.
If a gym is closing and they are a profitable business, they can donate the equipment and take a write off.
However, if it's a non-profit, then it gets tricky. They would have to sell the items at market value, pay off any debt they may have, and then if there is money left over, they will HAVE to donate the money to another non-profit organization. The board of directors can not walk away with any of the profits from the sell.
It's a tricky situation and something to watch out for when you receive your equipment.
