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?
No. Grant recipients may use the funds however they are most needed. Once the PMBF committee determines that the applicant legitimately qualifies under the criteria, and determines the amount of the grant, the grant recipient is free to use the funds as they judge best.
Can someone submit a PMBF grant application on behalf of another CAPS professional member?
Yes, provided the person submitting the application has the member’s permission to do so. The PMBF committee reserves the right to contact the potential grant recipient directly (or in some cases their family member or close colleague) to help determine the need.
What about confidentiality?
We understand that people applying for grants are experiencing difficult circumstances. We are committed to treating these individuals with compassion, respect, and discretion. Grant applications will not be made known to the general CAPS membership unless a recipient specifically requests that their name be shared. Grant applications are received by the PMBF committee for deliberation. All individuals involved in the PMBF grant process treat applications with absolute confidentiality.
We also understand that these types of circumstances could happen to any one of us. Applying for a grant is not an indication of professional miss-step or shortfall. The speaking profession can at times be a lonely business – but you do not need to face this alone. When tragedy happens, we encourage you to set aside your normal independent nature as a speaker, submit your application, and allow the CAPS Foundation to assist.
Can I apply to the PMBF more than once?
To ensure the PMBF can support as many of our members as possible, you can submit another application if (a) it is for a different issue; and (b) it has been at least two years since receiving your previous grant.
What funds are available through the PMBF each year?”
We allocate a maximum of 10% of the PMBF assets under management (AUM) each fiscal year.
What happens if all budgeted PMBF funds for the current fiscal year have been disbursed?
If all budgeted funds for the current fiscal year have been disbursed then applications will be retained and assessed at the beginning of the next fiscal year (September 1) in the order in which they were received.
How should PMBF distributions be treated from a tax perspective?
Individual circumstances are highly variable. For that reason, each recipient is encouraged to consult with their accountant or financial adviser to determine the best way to treat the grant for tax purposes.