Week 3 EOC: Making Money for Good

While TOMS shoes is a very notable non-profit crossover to for-profit venture today, it isn’t the only one.  Vehicles for Change, established in 1999, is an organization that provides restored and (through their subdivision—Freedom Wheels) donated cars to low-income families in MD, VA and DC.  Many families in these areas don’t own a vehicle, making it a constant struggle to do things as simple as grocery shopping, caring for elderly relatives and taking children to school.  “Today, there are a number of families in MD, VA and DC that are struggling to perform common tasks that most of us take for granted because of a lack of transportation.” (http://www.vehiclesforchange.org/) The tax returns given to donors are also generally higher for donations to Vehicles for Change.  “VFC is one, if not the only non-profit in the Maryland and Virginia area that can maximize your deduction by allowing you to claim the full fair market value of your car.” (http://www.vehiclesforchange.org/)  Statistically the families have improved their lives after receiving the donation of a vehicle.  The organization is unique because unlike others, who want to simply give things away, it “helps individuals who want to work to help themselves by providing affordable cars and a chance for an improved life. In a recent study, 73% of our car donation recipients obtained better jobs/promotions and have increased their income by an average of $4,800.” (http://www.vehiclesforchange.org/do_i_qualify.html)  The vehicles aren’t just given away, either.  Vehicles for Change focuses specifically on helping people who are trying to help themselves, they just need a little extra assistance.  Should a family qualify for a car, they are required to agree to a 12-month loan plan, to pay for it.  The cars usually cost $600-$700 each, meaning payment is $65-$80 each month.  This is a reas