Qurbani (Distributing Meat)

There is nothing dearer to Allah during the days of Eid ul Adha than the sacrificing of animals. The sacrificed animal shall come on the Day of judgment with its horns, hair, and hooves (to be weighed). The sacrifice is accepted by Allah before the blood reaches the ground. Therefore sacrifice with an open and happy heart. (Tirmizi, Ibne Majah)
It is highly virtuous for one on whom Qurbani is not wajib to offer sacrifice for the Pleasure of Allah. He will be eligible for all the reward mentioned in the Ahadeeth. During the days of Qurbani, sadaqah and charity cannot compensate for Qurbani nor fulfil the wajib. Qurbani is a unique ibadah. Just as Zakah cannot compensate for Hajj, or Sawm (Fasting) cannot compensate for Salaat, similarly charity cannot compensate for Qurbani.