HP and Market Velocity® Launch Equipment Donation Program
National Cristina Foundation Will Distribute Computers to Organizations in Need
ATLANTA, GA – October 12, 2005 Market Velocity, the only provider of a fully integrated solution to help company's trade-in, donate or recycle used IT equipment today announced it will manage an HP program offering their customers the option of donating used equipment to charity through the National Cristina Foundation (NCF).
NCF offers computers and other equipment to organizations that provide support to people with disabilities and persons who are disadvantaged. Market Velocity provides a web-enabled solution that allows customers to look up values for existing technology, choose options for trading, donating or recycling and arrange proper disposition. The Market Velocity solution manages all business processes, returns, and payments associated with HP Trade-In, or donation transactions. NCF matches donors with recipients and processes the tax credit deduction letter for the donors.
"This program gives companies a wonderful opportunity to extend the productivity of earlier generation technologies and make a significant difference in the lives of people who might not otherwise have access to equipment that enables the computer training and education that is so important in today's workplace," says Dr. Yvette Marrin, NCF president.
To participate, customers must first determine whether their equipment is eligible. Lists are provided online at the HP Trade-In program site. Customers submit a request to donate and NCF finds a recipient. Once the recipient is located, customers are notified to ship the equipment and then receive a tax receipt letter within 30 days allowing them to take a tax deduction.
The Web site and all transactions among NCF, HP and end users are managed by Market Velocity on behalf of HP. "Market Velocity is proud to work with equipment manufacturers like HP who want to help their customers, help others," says Frank X. Dalton, Market Velocity CEO.
"While Hewlett Packard offers customers multiple options for disposing of used IT equipment, donations are a popular alternative to get aging assets out of storage and into the hands of people who can really benefit from them," says Jackie Anderson, HP Trade-In program manager.
The HP Trade-In program is available online at www.hp.com/go/tradein. For equipment that can't be traded in or donated to NCF, Hewlett Packard operates best-in-class, environmentally safe recycling facilities that process over 3 million pounds of obsolete equipment every month.
About Market Velocity
Market Velocity, the industry's trade-in expert, helps computer manufacturers, telecommunications equipment providers, end-users, distributors and value-added resellers get maximum value from used equipment by offering the only full service solution for trade-in, donation and EPA-approved recycling programs with the industry's highest standards for privacy and data erasure. Market Velocity develops and maintains trade-in web sites, processes returns and payments, provides comprehensive business intelligence reporting and has a vast network of remarketing partners that ensures competitive prices for used assets. Major equipment manufacturers and thousands of their customers rely on Market Velocity to help accelerate the purchase of new technology by maximizing returns on previous investments. For more information, visit www.marketvelocity.com.
Every day, across America and around the world, National Cristina Foundation is working to ensure that used computer resources that no longer meet an enterprise's needs are given a second productive life as a tool for developing human potential. Since 1985, hundreds of thousands of computers have been donated at no cost to donors or recipient organizations. Millions of people throughout the United States and abroad have been helped to lead more independent and productive lives. More information about NCF is available at www.cristina.org.
HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Jan. 31, 2005, HP revenue totaled $81.8 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at www.hp.com.
Public Relations Contact:
Market Velocity, Inc.
3885 Crestwood Pkwy, Suite 500
Duluth, GA 30096
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