Matching Grants: A New Pilot Program from Binc

matching grants The Binc Foundation knows that the staff of a bookstore often feels much like a family. Having a colleague struggle with a financial hardship is made more difficult when there seems to be no way to help. The Binc Foundation understands this, and is introducing a new Matching Grant Pilot Program. Now there is a way for booksellers to harness the goodwill of the book people in their community to assist a local bookstore employee in need. Your store can raise funds (by any method they choose) and the Foundation will match those donations dollar-for-dollar up to a maximum of $2,000.

The Foundation’s regular financial assistance grants are designed to address as many financial emergencies as possible through a variety of qualifying events. We know that each bookseller’s situation is different and financial hardships do not always fall neatly into these categories. There are times when a bookseller will need assistance in a situation that does not match one of the existing qualifications. The Matching Grant Pilot Program is designed to assist bookstore employee’s experiencing a financial hardship in these instances. Some of the types of qualifying events that could qualify for a Matching Grant are auto repairs, insurance premiums, medical expenses*, and emergency home repairs.

Applying for a Matching Grant is a simple process:

  1. The store owner, manager, or regional IBA executive director signs on as the sponsor.
  2. The sponsor signs and submits a Matching Grant Application
  3. The Foundation submits the application to the Program Committee for evaluation
  4. If approved, the sponsor oversees collection of funds at the store/community level on behalf of the bookseller.
  5. Once funds are raised (or the $2,000 mark is reached), the sponsor submits a Request for Funds Form (verified by the sponsor and one other bookstore representative, reporting the amount collected)
  6. A matching check is written by Binc (Funds can be paid to a third-party, i.e. doctor or paid directly to the bookseller).

As with standard Binc financial assistance grants, these Matching Grants are intended to assist with an unexpected financial hardship. A few examples of expenses that matching grant funds cannot be used for include legal fees, college tuition, elective surgery, vacation travel, or celebratory events such as weddings, baby showers.  This list is not exhaustive; the Foundation staff and Program Committee will make the final determination regarding approved qualifying events.

If you feel that you have a situation that would qualify for a Matching Grant, please contact Binc.

* Medical expenses may qualify for a direct assistance grant, so please contact Binc to discuss your particular case.

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