More Than Wheels Inc

Filing Period

Jan 1, 2012 to Dec 31, 2012

Signed

Aug 14, 2013

Return Version

2012v2.1

Gross Receipts

$1,791,679

Mission

Major Activities

Activity 2

The organization receives donations in the form of used vehicles and also purchases used vehicles. Donated vehicles are evaluated and then repaired for use by clients or disposed of with the proceeds going to support the organization. Vehicles are transferred to clients upon their admittance into the educational and credit repair program to provide an interim transportation solution. The client pays a monthly fee for the use of the used vehicle. The organization retains a lien on the vehicle. Upon the successful completion of the educational program, the client purchases a new vehicle and the used vehicle is transferred back to the organization in accordance with a signed agreement with the client.

Activity 3

The organization pre-negotiates transactions with selected automobile manufacturers and dealers, banks and credit union, supplier of extended warranties and insurance products to facilitate all parts of the transaction relating to the purchase of a new vehicle. The organization provides a consulting service for the purchase of automobiles, focusing on needs assessment, income verification, credit analysis, credit consulting and financing pre-approval. All within the context that enhances the dignity and the self respect of the clients. The organization also provides a limited financial guarantee to participating banks and financial institutions in exchange for loans with reduced interest rates to persons of low and moderate income. Clients pay a fee of $895 for this service. In addition, the organization receives a small loan origination fee from the selected lending institution.

Filer

EIN

02-0528886