Q: How does SHMD financially assist individual recipients?
A: Now a 501(c)(3) organization, the SHMD cannot operate as it has done in the past. Previously, once recipient grant awards were determined, each recipient received a check for the full amount of the grant. While this may seem ideal, the process did cause issues for the organization and unfortunately also for some of our recipients. The SHMD now assists individual recipients by reimbursing (or paying directly) expenses that come from an illness or hardship. In certain circumstances, the SHMD can also financially assist individual recipients by reimbursing lost wages from recent unemployment due to illness or hardship.
Q: How does SHMD financially assist organizational recipients?
A: The SHMD assists other not for profit organizations by providing funds for activities or projects that benefit local residents. This financial assistance comes as a one-time payment in the grant amount determined after the Dance.
Q: If I'm chosen as a recipient, will I receive the full amount requested?
A: Grant awards to recipients are determined by several factors. These include, but are not limited to, the total amount raised that year, the amounts requested by all recipients, individual recipient situations, etc. Therefore, we cannot guarantee recipients will receive the amount requested.
Q: If I'm chosen as a recipient, how soon will I have access to the funds?
A: Access to funds is not immediate. After the Dance, volunteers balance the books by paying all of the outstanding bills before recipients' grant amounts are determined. This process can take up to three months. However, all individual recipients have access to their own $1,000 expense fund immediately upon being named a recipient (more below).
Q: How do the funds I receive from the SHMD affect my taxes or social security benefits?
A: As the SHMD is a 501(c)(3) organization, the recipient grant awards are generally provided tax-free. However, everyone's financial situation is different and it is recommended that recipients speak with their own tax/financial advisors for answers to these questions.
Q: How does the $1,000 expense fund work?
A: Upon being named a recipient, but before actual grant award amounts are determined, recipients may make claims up to $1,000, with accompanying receipts. Any claims made from this fund will be deducted from the eventual grant award amount.