What bike recyclers do
Some bike recyclers teach disadvantaged people valuable bike-fixing skills; some refurbish bikes and send them to the developing world; others use them to encourage healthier living in the local community. Many do a combination of at least two of these.

Some will accept the most dilapidated crunchers from you, but the majority only take them if they are fit to ride. Ring ahead to find out. This isn't a lucrative business and it can cost more to fix an old bike than to replace it.