It's actually pretty simple....I do this with my school electronic recycle events. I use a simple
spreadsheet to track what I take in for each school or group...you can even weight the stuff right there and give them the going rate for it if they are a bit funny...mine have not been.
I then write a CHECK and label it DONATION and get the receipt they have as a 503c (non profit)...even our schools have those. So pretty simple, they know what was taken in and how much they are getting donated and give you a donation slip. To hedge your bet, on the donation slip REFERENCE the spreadsheet printout or just staple a copy of where the items were sold in case of an audit. At least it is easy to say, I made $1000 and here is my donation to XYZ for $500 Mr. auditor.....and remember, I believe they get funny if you have over $500 in donations....all you have to do is document the items...ie I take pics of the stuff and that goes in the stapled file with a copy of the sold receipt and donation slip.
Not, caveat....I am NOT a tax attorney nor a CPA....talk to yours and get their PROFESSIONAL advice....but this seems to be a good system and not a ton of work....especially if they are bringing me stuff...FOR FREE and I don't have to run around to get it.
Good luck!
Bookmarks