WEST (August 25, 2013) -- Nearly $4 million dollars in private donations for the City of West and its citizens may be handed over to the West Long Term Recovery Center soon.
Charles Matthews, the Long Term Recovery Center’s President, told News 10 Sunday that the non-profit is ready to start the process of receiving and dispersing funds.
The estimated $4 million in donations have sat idle since the West explosion. The funds have remained harbored and untouched at the town’s two banks and the Waco Foundation.
City leaders set up the Long Term Recovery Center so the money could eventually be funneled there.
But obtaining a 501(c)3 designation, and creating a model for how the money was to be dispersed caused delays.
"Those organizations who have the funds did what they should have done,” Matthews said.
“They were to hold onto the funds until we were able to show them we understood what was needed to be done correctly and lawfully."
The Long Term Recovery Center obtained its 501(c)3 designation in July, but a method for dispersing current and future donations was yet to be determined.
Matthews calls that a final puzzle piece they now have.
"We've written a set of procedures and presented them to the Waco Foundation and the banks in town," Matthews said.
It will now be up to the Waco Foundation and the two banks in town to hand over the money.
The Waco Foundation is expected to propose the transfer of their funds to their financial committee on Tuesday night.
According to Matthews, if funds are released to the Long Term Recovery Center, residents will be required to fill out paperwork for aid, and an unmet needs committee will then work with them on their claim.
Matthews also said that many other charitable organizations haven’t donated money because a process wasn’t in place to receive and disperse funds.
He expects more donations in the future now that the Long Term Recovery Center is capable of performing that task.