FLOYD'S FAMILY CARE FUND

As we approach 20 years in business, it can be hard to remember all of the times the organization has pulled together to help one of our employees in a time of need. The O'Briens believe that every Floyd's 99 Barbershop employee should have the opportunity to apply for a helping hand, afterall, it is the employees that make Floyd's 99 truly a unique brand. 

In 2019, Floyd's 99 Barbershop is establishing the Floyd's Family Care Fund to help our growing family through any of life's obstacles. We take our first step to making every employee have a place where they can turn to for help. Because the only way to truly be a Floyd's Family is to show up for each other in and outside of work. 

The primary purpose of the Floyd's 99 Care Fund is to provide assistance to Floyd's 99 Barbershops staff who have a sudden financial emergency due to a catastrophic event or emergency hardship.

 

 

F99CareFundLogo-BW_png

PuckStack2-600x600

FUNDING 

The Fund is initially supported with $.25 from each product sold in the corporate-owned shops and from online sales beginning October 1, 2018.  Eventually, Floyd’s 99 Team Members will be able to contribute funds through authorized payroll deductions.  Contributions to the Fund are tax deductible since the Floyd’s 99 Foundation is applying to become public charity under Section 501(c)(3) of the Internal Revenue Code.

Applying for Funds 

Within 3 months of the event, requests for funds will be submitted on an application form to a committee.  Requests must be supported by documentation, such as a doctor’s bill, eviction notice or repair statement.  Because the Fund is closely regulated by the IRS, the Fund Committee may request additional information to support the event so as to avoid the Foundation risking loss of its tax exempt status. 

If you are approved for the funds, you will be provided with a check within 5 business days of the committee’s monthly meeting.  Employee must be employed by Floyd’s 99 at the time the funds are awarded.  All requests are kept confidential and will be evaluated by the Committee and funds awarded on a nondiscriminatory, unbiased basis.  All money awarded is non-taxable. 

Floyds99StoreBG

PERSONS AND EVENTS COVERED BY THE FUND

Eligible recipients of funds are Floyd’s 99 Team Members.  Events that are covered by the Fund include an emergency or catastrophic event creating an immediate hardship.  The event must be sudden, unusual, identifiable and must be damaging to property or have caused injury to a Team Member.  Examples of a qualified event include funeral expenses, urgent medical expenses, damage to housing or contents due to fire, flood or other catastrophic event that is not covered by insurance. 

 

LIMITATIONS

There must be funds available in the Fund to fulfill the request.  The maximum request per catastrophe is $2,500.  Awards will not be made until January 2019.

FUND COMMITTEE 

The Fund Committee will consist of five members – two will be from the home office, two will be from the shops and one will be an O’Brien family member or third party that is not directly engaged in the business.  The Fund Committee will meet once a month and will call a special meeting where circumstances require. 

Frequently Asked Questions

 

 

  1. How do I apply for funds?  An application will be available on the Floyd’s 99 website.  You can work with your manager to download and complete the application.  You will email the application along with back up documents it to an email address to be provided.  The contents of your application will remain confidential once submitted. 

 

  1. Will I receive all of the money I requested?  Payment of each request is conditioned on whether the Family Care Fund has enough money in the fund.  It is also conditioned on whether the event is an emergency, you submit the requested back-up documentation for the request and that the amount being requested doesn’t exceed $2,500. 

 

  1. Who is eligible to receive funds?  The money will be paid to the Floyd’s 99 employee for the benefit of the employee, the employee’s spouse and children. 

 

  1. What events are eligible?  Events that are an emergency that are an immediate risk to your health, welfare, property or environment.  Examples of emergencies could include a flood or fire in your apartment, an unexpected illness or accident where you have medical or repair expenses, a child’s doctor bill, funeral expenses, emergency dental expenses or damage to your car resulting from an accident.  These are just examples and not meant to be the only types of events that will be considered.

 

  1. What events are not eligible?  Events that are not an emergency and have taken place over a long period of time, such as falling behind in the payment of rent or a car payment, money to pay a credit card bill, buying new tires for your car, car repairs that are not due to an accident, or traffic tickets.

 

  1. Can I use the money for unexpected veterinary expenses?  No.  The funds are for the benefit of Floyd’s 99 employees and their immediate family (child or spouse). 

 

  1. How often are applications reviewed?  A committee made up of home office employees and shop employees will meet monthly and review the applications for eligibility and approval.  It is important that applications are complete and contain the necessary documentation to avoid delays in evaluating the application.  An unscheduled committee meeting can take place where the situation calls for it. 

 

  1. How quickly can I receive money?   Within 5 business days of the monthly committee meeting in which the application is reviewed.  An unscheduled committee meeting can take place where the situation calls for it. 

 

  1. What is the maximum amount of money I can request?  $2,500

 

  1. Are robberies or theft emergencies?  Loss of personal property will not be covered (such as a purse, laptop or cell phone), but if there is damage to windows, doors or locks, you may apply for assistance.

 

  1. I am going through a divorce, can I apply for assistance?  A divorce is normally a planned event and would not be eligible for assistance, however funds may be eligible for an emergency shelter or other assistance where abuse or extenuating circumstances exist.

 

  1. What documentation is required?  You  may be requested to submit doctor’s bill, eviction notice, insurance invoice, police report or other documents to support your request for assistance.

 

  1. Do I have to pay the money back?  No.

 

  1. Do I have to pay taxes on the money?  No, the money is given to you tax-free. 

 

  1. How often can I ask for money for an emergency?  If you have multiple unrelated emergencies, you can apply for assistance in each situation, however the maximum you may be granted is a total of $2,500 a year for all qualified emergencies.  There is no time limit between each application, but each application must be for a different emergency.

 

  1. How long do I have to work at Floyd’s 99 to be eligible to apply for assistance?  There is no waiting period.   
 
Close