Professional Members Benefit Fund FAQ's
What are PMBF grants?
Professional Members Benefit Fund (PMBF) grants are emergency funds issued to Professional and Legacy CAPS members who, through no fault of their own, are facing a personal tragedy, catastrophic health emergency, natural disaster, or other financial hardships over which they have no control.
Who qualifies for a PMBF grant?
Any current Professional or Legacy CAPS member who was a member in good standing for a minimum of two (2) years prior to the incident may qualify for a grant.
What`s the maximum amount of a PMBF grant?
The amount of a grant is based upon the applicant's need and the determination of the PMBF committee. The maximum amount of a grant is $5,000.00
How is the decision made to issue a PMBF grant?
Upon receiving a Grant Application, the CAPS Foundation PMBF Committee deliberates to ensure the applicant meets the minimum requirements and to determine the amount of the grant. A committee member will contact the applicant to help determine the need.
Do my current finances factor into the decision to issue a PMBF grant?
No. Applicants are not expected to exhaust their financial resources before turning to the Foundation. In one year a member may be contributing financially to the CAPS Foundation. In another year they may be assisted by the Foundation.
Is a grant recipient expected to repay the grant?
No. PMBF grants are not loans and come with no expectation of repayment. These funds are freely contributed by our members so that they can be put to use for our members in times of need. It's part of the Spirit of CAPS.
Are grant recipients expected to apply the funds towards a specific purpose?
Can someone submit a PMBF grant application on behalf of another CAPS professional member?
What about confidentiality?
Can I apply to the PMBF more than once?
What funds are available through the PMBF each year?”
What happens if all budgeted PMBF funds for the current fiscal year have been disbursed?
How should PMBF distributions be treated from a tax perspective?