ACC BEREAVEMENT ENDOWMENT FUND (ACC- BEF)
The ACC BEREAVEMENT ENDOWMENT FUND (ACC-BEF) is a community member-subsidized bereavement fund that was created in December 2023 following proposals and recommendations from the General Assembly (GA) of the Association of Cameroonians in Colorado (ACC).
This fund exists as a charitable, compassionate
support mechanism to make life better for our
community in times of need.
Membership in the Association of Cameroonians in Colorado (ACC) is required to participate and benefit from this program.
WHY WAS THE FUND CREATED?
For its short history, ACC as we know it today, is
cherished by many and considered a successful
organization. We have been successful in managing our affairs and ultimately the well-being of our community. As we continue to grow, our needs and responsibilities to one another and the community are growing as well. You can learn more about ACC by visiting the ACC website using the address listed in this
document.
THE URGENCY TO CREATE THE FUND
Many of you have asked us about the ways that we can overcome certain bottlenecks associated with other insurance programs that you, your family members, or friends belong to. Some of these plans, designed to provide assistance in times of need, have oftentimes failed many families that desperately need help in critical situations.
Bottlenecks include restrictions imposed by some
plans, including where and how someone decides to be buried, limitations on how much money is
disbursed by a plan, and if someone decides to retire before collecting their benefits. We strive to serve your insurance needs by overcoming certain insurance barriers and shortfalls and increasing the prospects of our community for a better future.
As an organization that cares, these questions led us to take steps to do something about it and not just wait until the needs arise. To move us forward, we desire to serve your insurance needs by overcoming certain insurance barriers and shortfalls and Increasing the prospects of our community for a better future.
THE PROCESS TO CREATE THE FUND
We began this process by sending out a community survey in July 2023 about a recommended ACC Bereavement Endowment Fund. We took the next steps by crafting these guidelines for the proposed ACC-BEF. We continued our discussions online for a few weeks.
This culminated with several votes from our
community, including in-person voting at a November 2023 General Assembly (GA) meeting, as well as another follow-up survey that concluded on November 11, 2023.
Additional suggestions about the structure and
functions of the fund were received from the following members who played leading roles to get this underway. They include—
- John Forseh (PharmD)
- Clifford Asobo (PharmD)
- Yves Melle (MD)
- Samuel Effange
- Lucas Nkwelle
- George Bamu
- Thomas Mbelli
- Benedicto Mbango
The response from those that we surveyed and who voted was in support of the establishment of a mechanism to aid our community when someone passes.
The final steps occurred on November 12, 2023 when these proposals were adopted and made official.
WHAT IS AN ENDOWMENT FUND?
An Endowment fund is money given by donors (ACC members) to a non-profit organization like ACC for use to carry out a specific goal chosen by the donors.
HOW WILL THE ACC-BEF BE MANAGED?
At some point ACC leadership will open a separate
account for this project once it is operational. The ACC GA will elect a board to assist in running it. In the meantime, as agreed in the GA meeting of October 28th, 2023, this fund will be managed by the ACC Executive Committee (EXCO) until such a time that the GA is able to elect a board for this endowment fund.
HOW WILL THE FUND OPERATE?
To help us run this well, members of the association crafted the following rules of operations for the fund.
These will be improved upon as we know and learn
more.
RULES OF OPERATION
- Must be a registered ACC member who has
completed their $100 annual dues for the current year ($25 registration + $75 registration) and paid $100.00 bereavement fund dues during the open enrollment period.This condition MUST BE MET prior
to the member passing before any bereavement package is handed out. A member will be denied if the above conditions are not met before the member(s) passed. - Must be a Colorado resident at the time of
registration. - If a member moves after registration but still in the United States, he or she can keep their
membership. - New members who just moved to Colorado can register outside the enrollment period but will have a waiting period of 90 days from the date of registration.
- The enrollment period is the months of November and December of every year.
To view all Rules of Operation, please go to
https://coloradocameroonians.org/rules
ACCB.E.F WAIVER FORM
REQUENTLY ASKED QUESTIONS
- How will ACC track registrations into this new
bereavement fund?
ANSWER: You must be a registered ACC
member to belong. We will use the same
tracking process as we do when people register
to join the Association and pay their dues.
Financial updates will be provided during
quarterly meetings. - Where will my premium payments be deposited?
ANSWER: In the Association’s bank account. - Are you going to use my premium payments for
investment purposes?
ANSWER: As of now, premium payments will be
utilized only when a member passes away,
except there is a consensus from the majority
of the members present that the funds be used
for a different purpose such as income
generation. - Who is going to keep records of the plan when the
treasurer/and or financial secretary are
unavailable or quit/resign from the association?
ANSWER: When the treasurer or financial
Secretary or both resign from the Association,
the President will appoint interims to act on
their behalf until qualified candidates are put in
place. They must hand over everything in their
keeping including removing their names from
the Association’s bank account.
To view all Frequently Asked Questions, please go
to https://coloradocameroonians.org/faq
