by Erik Reagan
What if I told you that you could turn a $1 donation into $100 or more of impact? That's a pretty incredible opportunity! And that's what we're doing as we celebrate the official launch of Built on Purpose.
Built on Purpose helps unlock the potential in leaders so they can better empower and inspire those around them. And as excited as I am about the mission of Built on Purpose, what's equally exciting to me is that supporting amazing non-profit organizations is built right into the business plan. I aim to donate $5,000,000 over the first ten years of the business. And I'm starting right away during the launch of the business.
I invite you to join me as I raise $15,000 for an incredible non-profit called RIP Medical Debt, whose goal is eliminating local medical debt. Their mission is one I can relate to and connect with easily.
2008 was a pivotal year for my wife and me. Our daughter was born in July that year—12 weeks earlier than expected. She spent the first 94 days of her life in the NICU, and even with decent medical insurance, we ended up with an uncomfortable amount of medical debt. We paid toward that debt as best we could, but it lingered in a way that sometimes felt unbeatable.
But on December 22, 2010, we made our final payment on that medical debt! The looming weight of that debt was finally gone.
But here's the thing: it wasn't even because of anything we did. A generous family member gave us the money that made it possible. It's something we'll never forget and will forever be grateful for.
You and I have an opportunity to do something similar for others in greater need.
It's kinda crazy, but medical costs have doubled in the past forty years, insurance copays and deductibles have spiked, and bankruptcy rates have quadrupled. All of this has created an avalanche of destructive medical debt. More than 60% of bankruptcies in America have medical debt as a root cause. While I didn't experience bankruptcy myself, I recognize the scope of the medical debt issue around us.
RIP Medical Debt uses tax-deductible donations to purchase bundled medical debt portfolios from hospitals and on the secondary debt market. Then they forgive that debt at pennies on the dollar. Their focus is on households that earn less than 4x the federal poverty level or whose debts are 5% or more of their annual income.
On average, $1 can abolish $100 in medical debt, and every donation through this page will be spent directly on abolishing medical debt in Georgia, starting in the Savannah area.
When debt relief recipients open the yellow envelope from RIP, they're told that their debt has been bought by a third party and erased with no strings attached. They owe nothing on the debt and face no tax penalty.
For individuals, consider that a donation of just $100 relieves $10,000 in debt!
For businesses, consider that donating $1,500 relieves $150,000 in debt. (And if you're already budgeting more to donate in 2022, contributing just $5,000 relieves $500K in debt!)
As a thank-you to any launch campaign business donors who donate $1500 or above, we will hold a drawing for two winners to choose one of three services:
We'll select the winners and reach out within one week of the launch campaign completion.
As we launch this business, would you consider this invitation to contribute to eliminating medical debt in Savannah and surrounding Georgia cities and counties? Just $1 takes a $100 weight off of someone's shoulders. And if you're not in a position to donate, would you share this page with your friends and family on social media?
My thanks to each of you as I launch this new business. I'm excited to serve, and I'm excited to give.
Written by Erik Reagan