FLOYD'S FAMILY CARE FUND

The Mission of the Floyd’s 99 Foundation is to contribute to and participate in national, regional and local communities and causes that promote research for cures to life-threatening diseases, to support and strengthen local communities, work with kids and adults alike who are in need of support and provide care and relief in catastrophic events and emergencies.

As Floyd’s 99 Barbershops approaches 20 years in business, it can be hard to count the times we’ve 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 a truly unique brand.

In 2019, Floyd's 99 Barbershop established the Floyd's 99 Foundation (“Foundation”), in part to help our growing family through life's obstacles. We are taking our first step to ensure every employee has a place where they can turn to for help (unfortunately employees of our franchise partners are not yet eligible). Because the only way to truly be Floyd's 99 family is to show up for each other inside and outside of work. 

One purpose of the Foundation is to provide assistance to Floyd's 99 Barbershops staff who have a sudden and/or unforeseen financial emergency due to a catastrophic event or emergency hardship.

 

 

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FUNDING 

The Foundation is receiving $0.25 from each product sold in the corporate-owned shops and from online sales. Eventually, Floyd’s 99 employees will also be able to donate funds to the Foundation through authorized payroll deductions. Donations to the Foundation are tax deductible.

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. 

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PERSONS AND EVENTS COVERED BY THE FUND

Eligible recipients of funds are Floyd’s 99 employees (except for franchise partner employees at this time). Events that are covered by the Fund include an emergency or catastrophic event creating an immediate financial hardship. The event must be sudden, unusual, identifiable and must be damaging to property or have caused injury to an employee. Examples of qualified events 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 Foundation to fulfill the request. The maximum request per catastrophe is $2,500.

FUND COMMITTEE 

The committee will consist of three members, combination of which  are from the home office and from the shops. The committee will meet the third week of every month and can call a special meeting where circumstances require at the discretion of the committee. 

Floyd’s 99 Family Care Fund

 

Frequently Asked Questions

 

 

  1. How do I apply for funds?  Notify your Manager that you wish to apply for assistance from the Family Care Fund and your Manager will obtain an application for you to complete.  Once you complete the application and provide the back up documents, your Manager will email the completed application along with back up documents.  The contents of your application will remain confidential. 

 

  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 to fund all the eligible requests received.  It is also conditioned on whether:  the event is an emergency, the application is complete and you submit the requested back-up documentation.  Payments will not exceed $2,500. 

 

  1. Who is eligible to receive funds?  All Floyd’s 99 employees for the benefit of the employee, the employee’s spouse and children. Unfortunately at this time, employees of our franchise partners are not eligible.

 

  1. What events are eligible?  An emergency - events that create 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 car repair expenses, a child’s doctor bill, funeral expenses, emergency dental expenses or damage to your car resulting from an accident that are not otherwise covered by insurance.  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 emergencies 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?  The applications will be reviewed for eligibility and approval once a month.  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 and at the discretion of the committee. 

 

  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.  The payment will be made by check to you and sent to the shop address.    

 

  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, repair estimate, 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; however you must be employed at Floyd’s 99 at the time the event occurred, at the time you applied for assistance and at the time the assistance is approved. 
 
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