The board has decided to earmark 36.7% of its operating budget to provide financial assistance to NEAR Foundation affiliates. This money will be deposited and held in reserve in the separate account of the NEAR Foundation Educational Trust.
The amount of funding to be allocated to each affiliate will be on a case-by-case basis. Affiliates are encouraged to apply for assistance by submitting their requests to Gladys Lafever by the first of the month. A decision will be made by the end of that same month and notification forwarded. We’re all family with common goals, so the requests can be informal. But they should include as many specifics as possible, as to how the requested funding will be applied, what urgent need it will address, what portion will go to operating expenses, and what portion will contribute to staff compensation.