The 4th Bin [offers] pickup of e-waste "for ethical reuse and recycling from local residents and businesses." According to the EPA, over 2,000,000 tons a year of discarded electronics leach heavy metals into landfills and pose health problems to workers in developing countries where some e-waste is sent for processing.
What happens to your stuff? It's either refurbished and resold or, if it can't be used, broken down for recycling of parts. Since February 2010, the company has collected over 1.2 million pounds of e-waste.
via manhattanusersguide.com (Manhattan User's Guide)
Also via MUG: Yes, New York State passed a law that requires free collection and recycling of e-waste. But read 4th Bin's FAQ to understand why you might well want to use them instead.