Cohousing-L Mailing List: Re: Hardship funds/resources

[Mac Thomson (macthomson]

We have something similar to what you’re asking about, called the Heartwood 
Humanitarian Fund. Here’s the language from our Budget & Assessments Agreement 
(https://www.heartwoodcohousing.com/budget--assessments.html):

> Humanitarian Fund
> We maintain a Humanitarian Fund.  The purpose the Fund is to provide money to 
> members in financial need.
> 
> Money comes into the Fund through voluntary private donations.
> 
> The Steering team has responsibility and authority to make distributions from 
> the Fund based on the following distribution criteria:
> 
> •  Distributions are only available to Heartwood members.
> •  Distributions are given only for financial hardship to meet basic needs, 
> such as shelter, utilities, HOA assessments, Common Meals, medical costs, 
> food, clothing, transportation to work, etc.
> 
> In determining the amount of the distribution, the Steering team exercises 
> its discretion, taking into consideration such factors as the severity of the 
> hardship, the long term financial strength of the Fund, etc.  In any 12-month 
> period, a household may receive distributions totaling a maximum of 50% of 
> the Fund balance at the beginning of that 12-month period.
> 
> The Steering team provides an easy method(s) for members to request a Fund 
> distribution. All requests and distributions are kept confidential to the 
> extent reasonably possible. A member seeking a distribution may represent 
> himself or herself to the Steering team or may use a representative. It is 
> not OK for someone to seek a distribution for another member without that 
> member’s consent.
> 
> The Steering team is not responsible for creating fundraising events, but 
> encourages members to host them in order to meet fundraising goals.
> 
> The Finance team provides homeowners with an easy opportunity to donate to 
> the Fund when paying HOA assessments.  The team is also responsible for 
> making collections and distributions.
> 
> At the end of each year, the HOA adds a portion of its overall investment 
> income to the Fund based on the average Fund balance for the year in 
> proportion to all HOA investment balances (or subtracts from the Fund in the 
> event of overall investment losses).


-- 
Mac Thomson

Heartwood Cohousing
Southwest Colorado
http://www.heartwoodcohousing.com


"As to when I shall visit civilization, it will not be soon, I think.  I have 
not tired of the wilderness;  rather I enjoy its beauty and the vagrant life I 
lead, more keenly all the time.  I prefer the saddle to the streetcar and the 
star-sprinkled sky to a roof, the obscure and difficult trail, leading into the 
unknown, to any paved highway, and the deep peace of the wild to the discontent 
bred by cities."
        - Everett Ruess
**********************************************************


> On Mar 21, 2024, at 1:49 PM, Ruby Reay <rurubux [at] hotmail.com> wrote:
> 
> Hello all,
> 
> I am curious how communities deal with financial hardship experienced by 
> their residents, specifically, do any of you have a fund that is used for 
> such things, and if so, how to do approach the accounting of such a fund. I 
> am thinking non-profits can't do such things, so there might be alternatives. 
> I am aware that religious organizations (churches) have hardship 
> funds/resources and have a means of accounting for them.
> 
> At any rate, curious to hear what others are doing.
> 
> Thanks,
> 
> Ruby Reay
> Phoenix Commons
> Oakland, CA
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