University of Minnesota Departments, do you have something of high value that is no longer needed? The ReUse Program will partner with you to sell this item to the public and profit share from the proceeds back to your department. The ReUse Program has established relationships with buyers and secondary markets. We are experts in finding homes for no longer needed materials and would like to assist University Departments in getting their surplus property transferred to a new owner.
Materials being considered for the Profit Sharing Program will be sold from their current location and not transported to the ReUse warehouse in most cases, please contact us at reuse@umn.edu if you are unable to store the materials. ReUse Program staff will coordinate with the buyer, arrange pick up logistics, and meet the buyer or the buyer's transportation agent at time of pick up. After completion of the transaction the department's provided EFS will be credited by journal entry for the proceeds of the transaction.
To qualify for the profit share program your material should meet the following criteria:
- Capital Equipment Asset Disposal form completed and sent to the Controller's Office
- Valued in excess of $1,000
- In good functioning condition
- Is unlocked (if applicable)
- Does not contain any hazardous materials
- Not a biohazard (or properly decontaminated)
- No mercury
- No asbestos
- No radioactive materials
- Does not contain any other known or unknown hazardous materials
If advice is needed for decontamination please contact University Health and Safety (UHS) at 612-626-6002 or UHS@umn.edu
If your materials meet the criteria above, please follow these steps:
- Step 1: Complete form UM 1393 and email to the Controller's Office
- Step 2: If approved the Controller's Office will notify the ReUse Program
- Step 3: ReUse Program staff will list the materials on one or more online auction sites and/or search for potential buyers
- Step 4: If the materials sell, the ReUse Program will handle the transaction and logistics for physically transferring the materials to the buyer
- Step 5: After a completed sale the ReUse Program will initiate a transfer of funds for the proceeds of the transaction to the departments provided EFS
Please review the following documents for support: