Overview
What is On The Road Lending?
On The Road Lending is a nonprofit organization situated in Irving, Texas. Their primary mission is to alleviate poverty through innovative transportation solutions. They offer a program called the Freedom of Mobility, enabling individuals to purchase late-model vehicles under warranty. In 2022, they assisted approximately 1,500 people, with 203 successfully acquiring vehicles. Beyond vehicle provision, On The Road Lending provides financial workforce education, coaching, and coursework to prepare low- to moderate-income individuals for purchasing reliable transportation. Additionally, their Garage Program offers on-the-job training opportunities for under-represented populations in high-wage, high-growth occupations within the automotive collision repair industry. With a staff of 12 employees, On The Road Lending aims to empower individuals to secure better-paying jobs and improve their overall livelihood.
Official website here: www.ontheroadlending.org
What are the reviews and ratings of this charity?
Charity Navigator rates On The Road Lending with a score of 74%, which corresponds to a Two-Star out of Four Star rating. This rating reflects the organization’s overall performance in areas such as accountability and finance, as well as its community engagement. While it has a relatively strong culture and community score of 91, the accountability and finance score of 70 suggests there are some areas for improvement in financial management.
The organization demonstrates solid practices in transparency and governance, evidenced by a fully independent board and excellent ratings across various financial oversight categories. With a program expense ratio of 84.61%, On The Road Lending allocates a significant portion of its budget directly to its programs, indicating a commitment to fulfilling its mission. The absence of any material diversion of assets and the presence of comprehensive policies enhance its credibility.
Despite the positive aspects, the Two-Star rating indicates some limitations that may affect donor confidence. While the organization excels in constituent feedback and has robust mechanisms for collecting and utilizing feedback, the financial accountability score highlights potential challenges in fiscal responsibility that could be addressed for improved overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is On The Road Lending legitimate?
On The Road Lending is a legitimate nonprofit organization registered as a 501(c)(3) entity. On The Road Lending submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,196,505
For more financial information, click here
Official website here: www.ontheroadlending.org
What is the mission statement of On The Road Lending?
On The Road Lending's mission is centered around uplifting individuals from poverty through innovative transportation solutions. They achieve this by offering financial education alongside their mobility program. This program provides financial coaching, coursework, and vehicle selection assistance, enabling low- to moderate-income individuals to purchase reliable transportation, thereby opening up opportunities for better-paying jobs. The organization also includes a Garage Program, which offers on-the-job training through registered apprenticeship programs in high-wage, high-growth occupations within the automotive collision repair industry, providing opportunities for under-represented populations.
Official website here: www.ontheroadlending.org
Who is the CEO of On The Road Lending?
Michelle Corson is the Past Chair of On The Road Lending. The CEO's salary of On The Road Lending is $0 and their total compensation is $0.
Official website here: www.ontheroadlending.org
What is the revenue of On The Road Lending?
On The Road Lending's revenue in 2022 was $2,765,922.
Official website here: www.ontheroadlending.org
Who are the executives of On The Road Lending and what are their salaries?
The average compensation at On The Road Lending during 2022 was $99,709. There are 12 employees and 8 volunteers at On The Road Lending.
Here are 13 key members and their salaries (On The Road Lending's CEO's salary is $0 and their total compensation is $0):
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- Compensation: $189,501
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- Other: $12,282
- Compensation: $170,747
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- Other: $29,930
- Compensation: $147,628
- Related: $0
- Other: $0
Official website here: www.ontheroadlending.org
Where can I find the form 990 for On The Road Lending?
On The Road Lending's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ontheroadlending.org
Learn more at the official website: www.ontheroadlending.org
Mission Statement of On The Road Lending
On The Road Lending, as a nonprofit organization, is committed to lifting individuals out of poverty through innovative transportation solutions. Their mission is twofold: to provide financial workforce education and facilitate access to reliable transportation for low- to moderate-income individuals. The Mobility Program, a key initiative, empowers these individuals by offering financial coaching, coursework, and vehicle selection assistance. This comprehensive approach prepares them to purchase reliable transportation, enabling them to secure better-paying jobs.
Furthermore, On The Road Lending houses The Garage Program, which offers under-represented populations a unique opportunity to gain practical experience. This program provides on-the-job training through registered apprenticeship programs in high-wage, high-growth occupations within the automotive collision repair industry. By combining education and employment opportunities, On The Road Lending is not only helping individuals overcome poverty but also fostering a skilled workforce in the automotive industry.
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Impact
July, 2024
On The Road Lending's impact lies in its ability to lift individuals from poverty through transportation innovation. The organization's Freedom of Mobility Program enables clients to purchase late-model vehicles under warranty, providing them with a pathway to economic empowerment. In 2022, On The Road Lending worked with about 1,500 people in the mobility program, ultimately helping 203 individuals secure vehicles. By offering financial coaching, coursework, and vehicle selection assistance, On The Road Lending prepares low- to moderate-income individuals to purchase reliable transportation, positioning them to access better-paying jobs. Additionally, through its Garage Program, the organization provides under-represented populations with opportunities for on-the-job training in high-wage, high-growth occupations within the automotive collision repair industry. Overall, On The Road Lending's work extends beyond mere transportation assistance, equipping individuals with the tools and resources needed to improve their financial well-being and career prospects.
This information is meant to be a general summary of On The Road Lending. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $560,267
- Gross Receipts: $2,765,922
Assets and Liabilities:
- Total Assets: $16,935,632
- Total Liabilities: $17,647,246
- Net Assets: -$711,614
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GARAGE PROGRAM
Revenue
$560,267
Organization Details
Founding Year
2013
Phone
(214) 226-2542Principal Officer
Michelle Corson
Main Address
1500 NORTH LOOP 12, IRVING, TX, 75061
Website
www.ontheroadlending.orgNTEE Category
Code: P20 - Human services
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