The Disaster Relief Fund may provide direct assistance to eligible individuals for any federally qualified disaster; assistance is defined within Section 139 of the IRS code and includes:
- reasonable and necessary personal, family, living, or funeral expenses incurred as a result of a qualified disaster (basic necessities, such as food, clothing, transportation and medical assistance, including psychological counseling);
- reasonable and necessary expenses incurred for the repair or rehabilitation of a personal residence due to a qualified disaster (a personal residence can be a rented residence or one you own); and
- reasonable and necessary expenses incurred for the repair or replacement of the contents of a personal residence due to a qualified declared disaster.
Qualified disaster relief payments do not include:
- income replacement payments, such as payments of lost wages, lost business income, or unemployment compensation.
Generally, assistance received from the Richard M. Schulze Family Foundation Best Buy Disaster Relief Fund is not counted as taxable income for the recipient. "Internal Revenue Code section 139 provides that qualified disaster relief payments ... are not taxable as income and are not subject to employment taxes or withholding." https://www.irs.gov/pub/irs-pdf/p3833.pdf
Applications will be reviewed by a selection committee and applicants will be notified of their application's status as soon as administratively possible (typically within 14 days). Full-time employees can receive up to $5,000; part-time employees can receive up to $4,000. Assistance above these caps may be considered if circumstances are warranted.