Non-profit debt reduction works in a similar way to its privately provided equivalent, but without the underlying motivation of profit potential. Whilst this may not seem terribly important, it is highly significant. The prospect of commission affects the way both companies and individuals think and operate.
How Do Non-Profit Debt Reduction Services Cover Their Expenses?
Whilst the client receives budgetary help for free, revenue is generated through signing-up clients to either a debt settlement program or Debt Management Plan. Although 15% of each monthly contribution goes to the provider, a more modest percentage is subsequently paid to the non-profit service. The amount varies.
Non-profit debt counseling services generate the majority of their revenue through debt relief solutions. However, many also receive government financial assistance. Others receive donations from local and national businesses.
- Nonprofit Tax Id Number
Publication 78, Cumulative List of Organizations described in Section 170(c) of the Internal Revenue Code of 1986, is a list of organizations eligible to ...
- Non Profit Free Debt Reduction
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