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A
"Family Fund" has been established by the ICAS Foundation to
provide financial aid to the families of those in the air show
industry who have suffered a catastrophic event. The seed money
for the Family Fund was provided in 1996 by a $5,000 donation by
AVEMCO Insurance Company in memory of aviation legend Charlie
Hillard. The Family Fund continues to be funded by donations to
the annual Foundation Silent Auction and other contributions.
The
Family Fund honors the memory of past stars of the air show
profession and provides a vehicle for helping within our own air
show community when that help is needed most. Persons
wishing to make a contribution to the Family Fund may contact
any Director.
The
Family Fund provides monetary assistance to alleviate a genuine
hardship. The Fund does not provide support in the form of
tokens of sympathy, i.e. flowers, cards, etc.
Monies
provided by the Foundation through the Family Fund program are
not taxable to the recipient as income for U.S. Federal income
tax purposes. The citation for the non-taxability of a gift is
USC Title 26 section 102(a) (Internal Revenue Code of 1986).
Tax consequences in foreign jurisdictions should be determined
by a tax consultant in that jurisdiction.
Eligibility
The
Foundation provides assistance to individuals or families in the
air show industry who have been struck by tragedy. The
Family Fund provides equal access to all members of the air show
community in need. Recipients need not be current or past
members of ICAS or the ICAS Foundation.
Need & Circumstances
Each
case is evaluated on its own merits. Assistance may be given
when a member of the air show community cannot otherwise pay for
specific basic needs as the result of a catastrophic event.
Grants of up to $5,000.00 may be given to cover funeral expenses
or other basic needs, such as food, shelter, medical attention,
etc.
Depending on the level of assistance requested, the Board may
request financial disclosure from the applicant. In some
circumstances, the Family Fund may provide short-term cash
advances or loans to members requiring urgent financial
assistance in dealing with personal tragedy. This assistance may
be repaid from proceeds of insurance and requires the recipient
to provide assurance in the form of a promissory note or similar
instrument.
Become a Family Fund Supporter
Request Family Fund Assistance |
