Cash Assistance Program
Published on July 23, 2022 by Lizzy
Hey Neighbors!
Before we moved our financials to Open Collective for more transparency and flexibility, we relied primarily on Venmo as a means of receiving and distributing cash assistance. Because Open Collective is a 501(c)(3) nonprofit organization, they must provide evidence and data about the use of all funds to the IRS and auditors on an annual basis. Part of how we, UKVMA, help them in that process is by setting up a more formal cash process. As a result, we are publishing our answers to their questions below.
1. A name for the cash assistance program. Ukrainian Village Mutual Aid Cash Assistance
Before we moved our financials to Open Collective for more transparency and flexibility, we relied primarily on Venmo as a means of receiving and distributing cash assistance. Because Open Collective is a 501(c)(3) nonprofit organization, they must provide evidence and data about the use of all funds to the IRS and auditors on an annual basis. Part of how we, UKVMA, help them in that process is by setting up a more formal cash process. As a result, we are publishing our answers to their questions below.
1. A name for the cash assistance program. Ukrainian Village Mutual Aid Cash Assistance
2. The intended impact—how this helps achieve the charitable mission of the Collective. We are neighbors supporting neighbors - often that requires redistribution of wealth and financial support when our neighbors face financial hardships.
3. The intended Recipients (as a group, i.e. which communities, characteristics, or situations). Neighbors within the Ukrainian Village neighborhood of Chicago who lack access to a bank account or who are unfamiliar or unable to access the required technology (i.e. ability to access and/or navigate the internet, fill out forms, etc.)
4. The criteria or method of selecting Recipients and determining amounts to disburse. We always strive to meet our neighbors in person so that we know that the money is going to someone in our neighborhood (Ukrainian Village & West Town, Chicago). As a group we have decided that we can redistribute $200 per month per family/individual unless urgent circumstances necessitate deviation from this policy.
5. Why cash assistance is necessary (i.e. why Recipients are not able to submit expenses to get paid directly on the platform). They lack bank accounts or access to the internet.
6. The anticipated amounts to be disbursed, per Recipient or payment, and overall for the program in total. We anticipate that each payment will be around $200. The overall program total will be determined by future fundraising efforts. A ballpark would be ~$1-5,000 per year.
7. The timeline for the cash assistance program (start and end dates, or indefinite). Indefinite.
Any questions? Don't hesitate to reach out!
3. The intended Recipients (as a group, i.e. which communities, characteristics, or situations). Neighbors within the Ukrainian Village neighborhood of Chicago who lack access to a bank account or who are unfamiliar or unable to access the required technology (i.e. ability to access and/or navigate the internet, fill out forms, etc.)
4. The criteria or method of selecting Recipients and determining amounts to disburse. We always strive to meet our neighbors in person so that we know that the money is going to someone in our neighborhood (Ukrainian Village & West Town, Chicago). As a group we have decided that we can redistribute $200 per month per family/individual unless urgent circumstances necessitate deviation from this policy.
5. Why cash assistance is necessary (i.e. why Recipients are not able to submit expenses to get paid directly on the platform). They lack bank accounts or access to the internet.
6. The anticipated amounts to be disbursed, per Recipient or payment, and overall for the program in total. We anticipate that each payment will be around $200. The overall program total will be determined by future fundraising efforts. A ballpark would be ~$1-5,000 per year.
7. The timeline for the cash assistance program (start and end dates, or indefinite). Indefinite.
Any questions? Don't hesitate to reach out!
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