The YMCA is one of the largest and oldest non-profits in the entire world. They serve more than 60 million people in 120 countries and are important pillars of the community is small towns and big cities alike. They provide vital services for underserved populations and provide all types of programs and facilities for the local community. For most, the local YMCA offers these facilities and programs for a fee, and unfortunately, there are times these fees go unpaid. In these instances, YMCAs need help recovering the money they are owed so that the organization can stay financially healthy. Here is how working with an experienced, ethical debt collector can help YMCAs accomplish this.
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Why YMCAs Need Debt Collection
YMCAs have two general types of programs they provide. There are free programs that serve the members of the community who are in need. These services include things like family services, education outreach, child welfare, and foster care programs. These services that local YMCAs offer play a huge part in the community and do so much for people in need. The challenge for YMCAs in offering these types of programs is that they cost a good deal of money and they do not make any money for the organization.
This means that YMCAs need to offer other ways to support these vital community-building programs. One of the ways they do this Is by offering paid facility use and programming for the segments of the community who want to partake. This includes things like provides fitness facility use, facility rental, and recreational and social programs such as Summer Camps. In many cases, members take advantage f these offerings based on just a deposit or with a monthly fee. When the balance of these payment plans goes unpaid, it can hurt the Y’s bottom line.
How a Debt Collection Agency Benefits YMCAs
Debt collection can be a touchy subject, especially for a non-profit organization that does so much good in its community like the YMCA. However, it is a necessary process because if the Y provides too many services without the cash flow in to back them up, they could fail and ultimately be no use to the community at all. This is especially true for an organization that provides so many free programs for those in need. They cannot afford to carry people who can afford to pay but choose not to.
Turning outstanding accounts receivable that are 60 or 90 days past due over to a debt collection company makes sense for YMCAs. These agencies have the professionals and the skill set to recover more money faster than the non-profits would ever be able to on their own. These debt collection professionals also know how to do it in an ethical way that will not violate any local, state, or federal laws or cause any undue stress on the member.
When done the right way, YMCAs using an experienced, ethical debt collection agency can be a win for all parties involved. The members can be treated with the respect and dignity they deserve and the YMCAs will not only receive the money they are owed so that they can continue offering all the important community programs and services but also not alienate their members. This will allow the YMCA to function properly, stay financially healthy, and continue to meet the needs of their local community as the organization has been doing for more than 175 years.