1st Mariner Bank is committed to understanding the community it serves. We are proud to play a vital role by supporting and partnering with worthy organizations that improve the lives of families directly benefiting from their service. Check back with us each month as we shine our spotlight on one of those organizations.
This month, we are proud to support Vehicles for Change.
I would like to introduce you to a unique nonprofit partner. Together we are providing a valuable tool to eliminate poverty and strengthen families. That tool is a car. If you can donate a car in good enough condition they will award it to a low-income family and you will be able to take a tax deduction equal to the fair market value of the car deduction.
Vehicles for Change (VfC) exists so that low-income families can achieve financial and personal independence that comes from owning a vehicle. VfC repairs donated cars and sells them to low-income families, at a minimal fee. Jobs, daycare, even grocery stores and doctors are unavailable without a car. Since October 1999, over 3,000 cars have been awarded to worthy families.
A recent survey showed that 73% of the individuals have obtained better jobs at an average salary increase of $4800. Parents are taking children to daycare, after school, athletic and recreational activities never before possible.
How you can help!
Donate a car in good condition and Vehicles for Change will award it to a worthy family and you can deduct the “fair market value”. The tax law change in 2005 provides donors a “fair market value” deduction only if the non-profit sells the car to a low-income family at significantly below market. A win – win for the donor and the worthy family receiving the car. (VFC does accept cars in any condition but only the cars awarded to worthy families qualify for the higher deduction. Other cars are sold and 100% of the funds received are used to make the awarded cars road worthy.)
Call 410-242-9674 or visit www.vehiclesforchange.org and donate your car today.