How many alums own or work for corporations that have significant amounts of charge-off debt they would be willing to donate?

University Alumni Association:
Example:
A university alumni association is raising funds to make the school’s 150th Anniversary Homecoming Celebration the best ever including the addition of 20 bronze statues of distinguished alumni placed around campus. To accomplish this, the alumni association needs to raise $175,000 more than the previous year. The Executive Director contacts an alumni association board member who owns a network of 80 radio stations. Over the past three years, each radio station has accumulated an average of $150,000 in charge-offs from businesses who did not pay for their advertising bringing the total network charge-offs to $12,000,000.

The radio station network signs a NPO Donation Agreement, designating the alumni association as the recipient of the donation funds and a Portfolio Agency Agreement giving the United Asset Group portfolio sales affiliate the right to sell the portfolio. A spreadsheet of the accounts is delivered to United Asset Group. The sales affiliate manages the sale and the portfolio is sold for 1.7% of face value. The buyer pays the sale price of $204,000 and the donation amount of $163,200 is sent to the alumni association in the name of the radio station network. Homecoming was a smashing success!

These foundations need only look to the hospital they are affiliated with for charge-off debt that can be turned into a cash donation.

Medical Foundations:
Many hospitals have associated hospital foundations that raise funds for new equipment or for special patient medical needs. These foundations need only look to the hospital they are affiliated with for charge-off debt that can be turned into a cash donation.

Example:
A local hospital foundation has fallen short of its funding goals for the past two years. The hospital needs to update its ICU and the foundation would like to pay for major surgeries needed for a family with a rare genetic facial deformities.

This 180 bed hospital charges off $11,000,000 per year, excluding indigent care, Medicare and Medicaid. The hospital donated $33,000,000 total charge-offs for the past three years and through United Asset Group’s unique and propreitary process, the hospital foundation received $300,000 while protecting the hospital, its reputation and their patients. Not only did the ICU receive the updates necessary but several families benefitted from the Foundation assistance with their medical expenses.

What companies might be willing to donate their charge-offs to help an inner city youth ministry build a recreation building?

Inner city youth ministry:
What companies might be willing to donate their charge-offs to help an inner city youth ministry build a recreation building?

Example:
A large regional department store chain has a credit card subsidiary that has written off a large number of accounts over the past several years. Management decides to donate its charge-off accounts to benefit a local ministry that helps inner city youth learn necessary job skills. A recent bad debt report indicates the charge-off accounts total approximately $5,000,000. These accounts have already been through their full collection cycle, including placement at a collection agency.

The department store chain signs a NPO Donation Agreement, designating the youth ministry as the recipient of the donation funds and a Portfolio Agency Agreement giving the United Asset Group portfolio sales affiliate the right to sell the portfolio. A spreadsheet of the accounts is delivered to United Asset Group. The sales affiliate manages the sale and the portfolio is sold for 2% of face value. The buyer pays the sale price of $100,000 and the donation amount of $75,000 is sent to the inner city youth ministry in the name of the department store chain. This gift gives the organization the seed money they need to secure the rest of the construction funding. In six months, the kids dreams come true.

The charity’s Executive Director told the retailer about the option to donate their charge-off accounts…

Childrens’ Disability Charity:
What companies might be willing to donate their charge-offs to help children’s disability charity provide therapy and durable medical equipment to kids with special needs?

Example:
A large national retail chain has donated significant funds over the years to a children’s disability charity. This year, however, the retailer’s donation will fall far short of their previous levels of support. The charity’s Executive Director told the retailer about the option to donate their charge-off accounts and referred the V.P. of Finance to United Asset Group’s website. The retailer, with $52,000,000 in company credit card write-offs, decided to donate these bad debt accounts to help the children’s disability charity provide therapy and medical equipment for hundreds of kids in need.

The retail chain signs a NPO Donation Agreement, designating the childrens’ disability charity as the recipient of the donation funds and a Portfolio Agency Agreement giving the United Asset Group portfolio sales affiliate the right to sell the portfolio. A spreadsheet of the accounts are delivered to United Asset Group. The sales affiliate conducts a sealed bid auction and the portfolio is sold for 1.3% of face value. The buyers pay a total sale price of $676,000. The donation amount of $540,800 is sent to the childrens’ disability charity in the name of the national retail chain. The therapy and medical equipment this gift provided changed the lives of a thousand children, giving them real hope for a brighter future.