How a Non-Profit received a $60,000 donation via Barter

Barter is relatively straight forward.  Offer your goods and services on a barter network to generate trade dollars and turn those dollars around to acquire what you need. The process is cashless with exception of the transaction fee paid to the barter exchange. Seems simple enough, but when you’ve been running a barter exchanges for 30 years, you pick up a few strategies that the typical barter member might not be aware of. This is the case with the founders of MediBarter.

Dom Casillo is the co-founder of MediBarter and the founder of Tradeworks NY, both are barter exchanges based in Kings Park, New York. Dom has become a savior to a local non-profit that raises money to help families pay children’s medical costs. As the 2022 year end was approaching, one of his clients had a $250,000 trade credit. Since barter trade is reportable income, the barter member would have received a 1099-B for $250,000. Dom contacted the member to help them find ways to use their trade dollars.

Besides spending down the trade dollars, Dom suggested donating trade dollars to a local charity, also a member on the exchange. The member said he would give it  some thought. A few days later, the member called Dom to discuss their donation. Dom was expecting a few thousand but was floored when the member proposed a $60,000 donation to the charity. The timing was perfect, Dom was able to deliver the good news just in time for Christmas. The non-profit used the trade dollars to acquire goods on the barter exchange to sell in their store.

Now, Dom and the MediBarter exchange are looking to replicate this success to help more non-profits.