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UBC BENEVOLENCE FUND PROGRAM


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PURPOSE:
This fund program is designed to help families from the financial stress that comes with losing a loved one. It may not cover all the costs but is designed to ease thefinancial burden in bereavement.

Summary Points

  1. Scope of the Program:
    Family members to be covered: Member’s spouse,children, parents, and immediate siblings- (brothers & Sisters). Please note step brothers or sisters are exempt from the above list.
  2. Registration:
    One - time non-refundable registration fee is $ 250 per member.
    Each member will be required to register using the attached form. For couples, the wife or the husband will be required to register as an individual member and each will pay the $250.
  3. Financial Assistance:
    Amount to be paid-out to a member in case they lose a family member shall be 16% of thetotal deposits received from enrollment. The amount shall be capped at $4,000.[Example: If there are 50 registered members, the pay-out amount shall be 16% * (50*$250) = $2000.](Please see attached pay-out table.) The funds will be availed no later than 72 hoursfollowing proper communication of bereavement by a member to the Benevolence Fund Secretariat. If two or more Fund members lose a common family member, they shall receive full financial assistance for the first member, herein referred to as the Principal, plus an additional 12.5% of the full pay-out for each of the other members, herein designated as Secondary. [Example: If the qualifying full pay-out is $2000, the family shall receive $2000 for the Principal member, plus $250 ($2000*12.5%) for each Secondary member.]
    Financial assistance in the event of demise of a Benevolent Fund member shall be $4000.
  4. Assistance will onlybe extended for members listed on the Data Sheet. If one is single (not married) and they are already covered by their parents, they are not eligible for enrollment
  5. Replenishment:
    Following disbursement of funds to a member, the fund shall be replenished by a contribution of $50 from each member. (Example: working with 100 members in the program, and each contributes $50 after the occurrence that would equate to $5,000 replenished back into the account after giving out $4,000 thus building the fund reserves.) Members $50 contribution to replenish the account should be remitted within 2 weeks. If a member has not sent their contribution within the first 2 weeks, there will be an additional 2 weeks grace period during which a member can remit their $50 replenishment plus an additional $10 for a total of $60. Failure to send in replenishment contributions after 4 weeks will trigger a penalty of $100. After 8 weeks, reinstatement will require full registration. Arrears will also need to be paid.
  6. If one has not registered by the designated open enrollment period, they can submit their application form with the $250 registration fee, but they will be subject to awaiting period of90 days before they can qualify for financial assistance.

    The rules and regulations of this program are bound to change with time as the fund membership grows in order to allow members fully utilize the benefits accorded by this program.
    The benevolence Committee reserves the right and mandate to make amendments.

    Benevolence Fund Committee Members

    Peter Mugo Munene -(Chairperson) (972) 750-9695
    Austin MsaghaMbogholi- (V-Chairperson)(214) 978-7879
    Lillian Mwangi - (Secretary)(949) 350-9002
    Edwin Kiptoo -(V-Secretary)(214) 229-2180
    Benson Maidha- (Treasurer)(469) 735-9194
    WanjiruKariuki -(V-Treasurer) (816) 359-9709
    Samuel Gandani
    Nelson Agufwa
    Davies Muli
    WangariNg’ang’a


    Email: upendobf@yahoo.com Wednesday, February 24, 2016

  7. A person who is single, has no children, and has at least one immediate family member (as here-in defined) in the Benevolence Fund, is not eligible for membership in the Fund.
  8. Replenishment:
    Following disbursement of funds to a member, the fund shall be replenished by a contribution of $50 from each member. (Example: working with 100 members in the program, and each contributes $50 after the occurrence that would equate to $5,000 replenished back into the account after giving out $4,000 thus building the fund reserves.)
    Members $50 contribution to replenish the account should be remitted within 2 weeks. If a member has not sent their contribution within the first 2 weeks, there will be an additional 2 weeks grace period during which a member can remit their $50 replenishment plus an additional $10 for a total of $60. Failure to send in replenishment contributions after 4 weeks will trigger a penalty of $100. After 8 weeks, reinstatement will require full registration. Arrears will also need to be paid.

If one has not registered by the designated open enrollment period, they can submit their application form with the $250 registration fee, but they will be subject to awaiting period of 90 days before they can qualify for financial assistance.

The rules and regulations of this program are bound to change with time as the fund membership grows in order to allow members fully utilize the benefits accorded by this program.
The benevolence Committee reserves the right and mandate to make amendments.

Benevolence Fund Committee Members

Peter Mugo Munene - (Chairperson) (972) 750-9695
Austin MsaghaMbogholi - (V-Chairperson) (214) 978-7879
Lillian Mwangi - (Secretary) (949) 350-9002
Edwin Kiptoo - (V-Secretary) (214) 229-2180
Benson Maidha - (Treasurer) (469) 735-9194
WanjiruKariuki - (V-Treasurer) (816) 359-9709
Samuel Gandani (940) 218-5485
Nelson Agufwa (469) 209-2147
Davies Muli (817) 726-4560
WangariNg’ang’a (214) 727-3450

Email: upendobf@yahoo.com Wednesday, February 24, 2016

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