NAOO Emergency Fund (NEF)

February 22, 2018
Posted By Saroj Sigdel

Dear NAOO members, we are proud to announce the establishment of NAOO Emergency Fund (NEF). We hope this marks the beginning of something substantial that can have positive impact in the time of emergency for our community members.

Please see the policy details below regarding what NEF is and how it is intended to be used. Should you have any question regarding NEF, please feel to reach out to us on our facebook page!

This Policy is intended to clearly communicate guidelines and requirements for all parties participating in the NAOO Emergency Fund program. NAOO Executive Committee of 2017-’19 has established the “NAOO Emergency Fund” (NEF) with an intention to help out unforeseen circumstances of people of Nepali origin who can’t cover an unexpected emergency expenses. Unforeseen circumstances includes, but are not limited to, a large medical expenses incurred due to a life threatening accident/injury/illness, weather/natural catastrophic displacement, and death of an immediate family member. To establish the NEF, each NAOO executive member has made an initial one time contribution of $25:00 (total $300:00), and NAOO has matched that contributed amount, so totaling $600.00 has been deposited toward the NEF. A total sum of $5,000.00 will be collected in the NEF within 10 years of its establishment year. For the first 5 years, NAOO shall allocate 40% of its annual savings towards the NEF, and shall run Emergency Fund charity events in the Cleveland-Akron-Youngstown combined area every year until it reaches the cap. One may make contributions at any time, in any amount, in cash or check, and the contributions by check should be made out to the “NAOO Emergency Fund” with the fund name specified on the information line. To be eligible for the NEF, the recipient must be of Nepali origin living and working in the North East Ohio. The final decision of the recipient will be made by the four-fifth (at least 80%) of the NAOO executive committee. NAOO can disburse not exceeding one-fifth of the collected amount in the NEF or $1,000.00, whichever shall be the smaller amount, one time per recipient. The NAOO will maintain the recipient’s documents for the official record keeping purpose.