In 2019 Binc awarded Matching Grants of $2,000 each to ten booksellers to help with a variety of financial emergencies, from car repair to medical bills. For booksellers and comic retailers facing a financial hardship that falls outside of our “regular” qualifying events, Matching Grants can be a life-saver.
Matching Grants were incorporated into Binc’s program roster in 2014, specifically to address emergency needs that fall outside of the current qualifying events, or to augment a regular Binc grant for a qualifying need that is unusually large. Since inception booksellers have been awarded $90,551 in Matching Grant for expenses such as:
- Car repair or replacement
- Personal relocation expenses following a natural disaster
- Living expenses while a bookseller recovered from an illness
- Excessively large medical bills
- Child adoption expenses
- Funeral expenses
- Emergency home repair
- Replacing personal belongings following a home fire
- Veterinary expenses for a service animal
When traditional funding sources are not available, more and more people are resorting to crowdfunding to help them get through life’s financial emergencies. With a Matching Grant of up to $2,000, Binc’s is making these funding efforts even more successful!
Booksellers have used a variety of methods to raise the initial funds for Binc to match.
Fundraising options can be broadly based, reaching out to an entire community, or specifically target just a few individuals, whichever will work best for the individual applicant. The only limit is the comfort of the bookseller to share their story and how wide they want to cast their net. A few of the methods Matching Grant applicant have used are:
- GoFundMe or similar websites
- Tip jar in their store
- Admission charge for a storytime marathon or author visit
- Percentage of store sales during a day or weekend
- Donations from friends and family
The application process is not difficult, requiring just two forms to be submitted by a store owner or manager on behalf of the applicant. Once the funds have been raised and verified, a check is sent directly to the applicant.
These grants are an important but under-utilized tool for getting a household through a financial emergency. If you have a need that may qualify for a Matching Grant, or know a bookseller or comic retail who might be eligible, get in touch with Binc. Email help@bincfoundation.org or call 866-733-9064 today.
Please note: Matching grants are not tax-exempt and you should speak with a tax professional to see if this grant creates a taxable event for you.