Overview
What is Wheels4Hope?
Wheels4Hope is a nonprofit organization situated in Cary, North Carolina. Their primary mission is to offer economically disadvantaged individuals and families dependable and budget-friendly transportation solutions. They accomplish this by accepting donated vehicles, repairing them to ensure they operate efficiently, and then selling them at significantly reduced prices to eligible families. These families are referred by local social service agencies with whom they have an established relationship. The vehicles that do not meet their program's requirements are sold for fair market value, with the earnings contributing to the program's funding. Wheels4Hope employs a team of eight individuals to carry out this mission.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 70%)
Wheels4Hope has received a Two-Star rating from Charity Navigator, indicating that the organization has room for improvement in its financial accountability and transparency. With a Program Expense Ratio of 90.65%, it demonstrates a commitment to spending on its programs rather than administrative costs, which is a positive aspect of its operations. The organization benefits from a fully independent board, with a strong conflict of interest policy and other governance measures in place, highlighting its commitment to ethical management.
However, the organization has some weaknesses that have affected its overall score. The Liabilities to Assets Ratio stands at 65.68%, which raises concerns about its financial stability. Although it has implemented equity practices and scored well in those areas, the overall Accountability & Finance Score of 69 suggests that there may be underlying financial management issues that need addressing.
In summary, while Wheels4Hope has some strong governance and operational practices, the areas for improvement in financial accountability and stability warrant attention to enhance its overall effectiveness and reliability as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Wheels4Hope legitimate?
Wheels4Hope is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wheels4Hope 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: $83,300
Professional Fundraising Fees: $30,211
Other Salaries and Wages: $116,736
For more financial information, click here
What is the mission statement of Wheels4Hope?
Wheels4Hope, a non-profit organization, is committed to providing economically vulnerable individuals and families with reliable and affordable transportation. They achieve this by acquiring donated vehicles, refurbishing them to ensure they operate efficiently, and selling them at significantly lower prices than the market value. Families eligible for these vehicles are referred by local social service agencies with whom they have an established relationship. Vehicles that do not meet the program's guidelines are sold at fair market value, with the proceeds contributing to the program's funding. This initiative aims to improve the mobility and overall quality of life for economically disadvantaged families.
Who is the CEO of Wheels4Hope?
Lisa Brusca is the Past Chair of Wheels4Hope.
What is the revenue of Wheels4Hope?
Wheels4Hope's revenue in 2022 was $1,697,621.
Who are the executives of Wheels4Hope and what are their salaries?
The average compensation at Wheels4Hope during 2022 was $25,004. There are 8 employees and 75 volunteers at Wheels4Hope.
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Where can I find the form 990 for Wheels4Hope?
Wheels4Hope's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wheels4Hope
Wheels4Hope, a nonprofit organization, is dedicated to addressing the transportation needs of economically vulnerable individuals and families. Their mission is to provide reliable and affordable transportation solutions to these families. They achieve this by accepting donated vehicles, meticulously repairing them to ensure they operate efficiently, and then selling them at significantly reduced prices. The beneficiaries of these vehicles are families who have been referred by local social service agencies with whom they have an established case management relationship.
Wheels4Hope's commitment extends beyond the sale of vehicles. Those that do not meet their guidelines for program placement are sold at fair market value. The earnings from these sales contribute to funding the program, thereby ensuring its sustainability. By providing affordable transportation, Wheels4Hope empowers families to access essential services, improve their livelihoods, and ultimately, enhance their overall quality of life.
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Impact
July, 2024
Wheels4Hope's impact is evident in the lives of economically vulnerable individuals and families in Cary, NC. By providing reliable and affordable transportation options, Wheels4Hope is helping these individuals access opportunities they may have otherwise been unable to reach. The organization's model of receiving donated vehicles, repairing them to ensure good operating condition, and selling them to those in need at substantially lower than market value is creating a tangible difference in the community. Additionally, the funds generated from the sale of vehicles not placed in the program are used to further support these impactful initiatives. Through this work, Wheels4Hope is making a real difference in the lives of those it serves.
This information is meant to be a general summary of Wheels4Hope. 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.
- Investment Income: $2,691
- Program Service Revenue: $517,291
- Gross Receipts: $1,697,621
Assets and Liabilities:
- Total Assets: $1,323,459
- Total Liabilities: $867,836
- Net Assets: $455,623
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Vehicle Sales
Revenue
$511,120
Other revenue
Revenue
$6,171
Organization Details
Founding Year
2000
Phone
(919) 832-1941Principal Officer
Lisa Brusca
Main Address
411 E Durham Rd, Cary, NC, 27511
NTEE Category
Code: P80 - Human services
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