No, it doesn't. Most of the data can still be recovered. You need to either rewrite over every sector of the disk or physically destroy it. I always disassemble the drive, remove the disk and fold it in half with the help of a hammer.
As far as what to do with surplus equipment, our local fixit shop will take virtually anything. He has a massive collection of broken fans, washing machines, TV's, phones, computers, you name it. If you bring in something to be repaired he can usually cannibalize something he's got packed away to find the parts needed. He works miracles in spite of no formal education.