The holiday season is over, but that isn’t stopping Trae Young and Charles Barkley from giving back. Go inside for their $1million philanthropic efforts…
Atlanta Hawks point guard Trae Young was the No. 5 overall draft pick of the 2018 NBA Draft. And now, he’s the top philanthropic player in the Hawks’ organization.
The 21-year-old partnered up with RIP Medical Debt to wipe out more than $1 million in medical debt for people in Atlanta who are struggling to pay their medical bills. The young NBA player gave a $10,000 donation via the Trae Young Foundation, which was able to get rid of $1,059,186.39 worth of medical debt for 570 people in the area. It’s a major deal since the National Consumer Law Center says medical debt is the leading cause of bankruptcy in the United States.
So how did a $10K donation wipe out $1 milli in medical debt? Here’s how…
The organization buys medical debt from collection agencies for literally one penny on the dollar. It’s sold this way because they figure they can make more this way rather than trying to collect from people who will never pay.
Atlanta Hawks star cancels more than $1 million of medical debt in the city: https://t.co/vlTVa7y8q6 pic.twitter.com/1qAS8LmSl2
— WSB-TV (@wsbtv) January 8, 2020
RIP Medical is a 501(c)(3) nonprofit started in 2014 by two former debt collectors that uses donated funds to purchase portfolios of bundled medical debt on the secondary debt market for pennies on the dollar.
It specifically buys accounts for those most in need (individuals: two times or below the federal poverty level, insolvent and/or with debts that are five percent or more of gross annual income).
Trae chatted with local reporters at the new Atlanta Hawks Emory Healthcare Training Facility where he reflected on growing up and watching family members struggling with debt.
“I wanted to impact the city of Atlanta and do something that was special to me,” Trae said.
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2020 Vision… #GameChangers @expressmen @nba
A post shared by Trae Young (@traeyoung) on Jan 9, 2020 at 10:26am PST
“The city of Atlanta has welcomed me with open arms,” he continued. “Giving back to this community is extremely important to me. I hope these families can find a bit of relief knowing that their bills have been taken care of as we enter the New Year.”
Another baller slam dunking on the philanthropic scene…
Retired NBA star Charles Barkley is putting his money where his mouth is…again. The Basketball Hall of Famer has donated $1 million to Miles College, a historically black college and university in Fairfield, Alabama. It’s the single largest donation the school has received in the school’s 122 years.
The former NBA baller told President Bobbie Knight – Interim President of Miles College and first woman in history to lead the historic institution – about the donation a few days before making good on his word.
“I’ve gotten to know Bobbie Knight over the last year and it was something I really wanted to do,” said Charles Barkley. “To have a female president is a big deal. I want to help Bobbie be as successful as she can be.”
“It’s great that Mr. Barkley thinks enough of Miles College to donate a million dollars. This gift lays the foundation to launch our $100 million dollar comprehensive campaign,” said President Bobbie Knight, Interim President of Miles College.
The NBA analyst – who is from Alabama – plans to do economic development around the Birmingham and Leeds Area, in his hometown. He’s also a majority owner of Redmont Distillary.
Miles College is the fourth HBCU that has received a $1 million donation from Charles Barkley. He donated $1 milli to both Alabama A&M in Huntsville and Clark Atlanta University in 2016. He did the same for Morehouse College in Atlanta in 2017.
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