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Giving a gift while getting a tax deduction in the process

Vehicles for Change
Posted at 4:37 PM, Dec 27, 2023
and last updated 2023-12-27 19:42:46-05

BALTIMORE COUNTY — The nonprofit Vehicles for Change is collecting donated cars for those in need and if it's done before the clock strikes midnight on New Year’s Eve, you get a huge tax deduction.

Bad weather can make it hard to get around and even harder for those without a car. That's where Vehicles for Change is making the change.

"We take donated cars and we repair them and we identify families who need a car to get to and from employment to escape poverty. Transportation has been the number one barrier to employment for people living in poverty really forever,” said Martin Schwartz who started the nonprofit in 1999.

He said it chooses families based on referrals from partner agencies.

"We work with domestic violence and job readiness and job training programs, we work with the department of social services,” said Schwartz.

Then for a small fee those families get a car, “So they submit the application, we sell them a car for $950, they get a 12 month loan and they get a 6 month, 6,000 mile warranty with the car,” said Schwartz. “So that we make sure that the car stays on the road and is in good shape while they're getting back on their feet.”

While this is good for the families, he says car donations have dropped 65% in the last couple of years, making it hard to keep up. With New Year’s Eve right around the corner, they have set a goal to collect 100 donated cars before the clock strikes midnight.

This comes with a big tax deduction to donors.

"So if you donate your car to us and your car goes to a family, its in good enough condition that we can award it, that donor get the fair market value deduction,” said Schwartz.

When you donate a car not only are you helping those in need, but also providing auto technicians training to those looking to make this a career.

The training is an employer driven paid internship to people facing barriers when it comes to getting a job, including those recently released from incarceration.

"That's a second chance right there,” said Kevin who is an intern in the program.

Kevin started the program in September after getting out of jail, he says it's taught him self discipline and new skills.

"It makes me feel good about myself because I can provide for me and my family. And it's just good to be financially free,” said Kevin.

With job offers already lining up, he said looking ahead the sky is the limit.

"Just doing cars I feel like it don't stop here, you got other areas, you got working on tanks, tractor trailers, stuff like that so it don't just stop with cars I’m trying to get all of them but right now you got to crawl before you walk so I’m going to start with the cars,” said Kevin.

If you would like more information or would like to donate a car, clickhere.