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Residential Member in Need Fund
Established in 1994, the Residential Member in Need Fund is a subset of the REBNY Foundation (501c3) which supports REBNY’s Member in Need Grant Program. The fund assists residential members who’ve experienced a loss of income and/or encountered significant financial hardship. Any residential REBNY member in good standing (for a minimum of two years) may anonymously apply to this grant program for up to $15,000 in financial assistance due to a personal/family illness or catastrophic life event. This program is managed in partnership by REBNY staff and our Member in Need Fund (MINF) Committee, who 1) reviews and approves applications for Member in Need grants and 2) monitors the investments and status of the fund.
In 2020, the MINF Committee formed a COVID-19 Pandemic Relief Fund to extend eligibility to those who would not normally qualify for the traditional grant program, but still needed critical support. The Committee reviewed a record number of applications when business was brought to a standstill during NYS on PAUSE and helped grant over $100,000 to 18 deserving residential agents.