I strongly believe that there is at least one company in the area you live in where you can recycle your iPad. Besides, you may sell it - just give an ad somewhere in your city forum for example, if it is allowed of course.
Take a look on eBay to see if they're still selling, or what they're going for. There are many companies who recycle electronics and will give you a few dollars.
As I got the mini for Xmas last year and didn't use my original iPad any more , I finally decided to sell it. So I told my daughter about it and she told her friends .
I had a look at the average prices they sold on ebay (32GB WiFi only ). I sold it in less than 24h for ? 200 ,for that price (And I really like the kid who bought it ;-)) I gave him the leather case and Moshi visor .