What the grant will provide
Three grants will be offered. Each grant will award $6,000 to be paid out over 6 months. Depending on project needs, grants can be customized. All recipients will meet via video chat as a group at least once a month. It is likely necessary to meet more often when projects start. Once we start the group will eventually decide how often meetings will be held to be helpful. The Prepared Mind project will provide technical assistance to each recipient to create an internet presence.
The goals of The Prepared Mind project
The first goal of this grant is to get talented individuals to promote their projects on the internet. This will create a body of work a resume can reference. Most employers would find the demonstrated ability to promote a project on the internet a very desirable skill set. A presence on the internet could lead to collaboration with like minded individuals to expand your community of people that have the same interests. Even if there is little income, it is always nice to have an audience that appreciates a demonstration of clever ideas and special skill. This is a plus for the creator and the audience. Internet promotion generates a common activity for all participants that will foster collaboration.
The last goal of the grant is to be of help. Funds shall not be used to exert control over the recipient’s project. The Prepared Mind Project will offer advice and constructive criticism. The recipient is the ultimate arbiter of their projects design and operation. The funds and technical support are a gift.
The recipient’s responsibility
It is the recipient’s responsibility to work towards the stated goal in their accepted grant application. The recipient will acquire the ability to fulfill this goal. The Prepared Mind Project will provide as an example all its web design activity along with tutorials and technical assistance.
What does success look like?
The projects and the community created will continue after the grant money expires. Recipients find joy in sharing their talent with a new community.
What are the tax consequences of giving and receiving a grant?
A grant is considered a gift. As long as the gift is less than $15,000 per year (https://www.irs.gov/; https://www.irs.gov/newsroom/ ) there is no need to report the giving or receiving of the grant (https://www.1040.com/blog/). Gifts are not taxable (https://ttlc.intuit.com/).
Will receiving a grant affect eligibility for unemployment?
No, unemployment is not based upon income. A gift or grant is not income. Unemployment is based on whether or not you have a job. (https://www.thebalancecareers.)
Will receiving a grant affect eligibility for other entitlements?
Yes it can. For SSI there would be a dollar for dollar reduction to the benefit for the grant. If the monthly value of the SSI benefit is low, the grant might be increased to cover the lost benefit. If the SSI payments are large then it would be too much for the grant to compensate. Then giving the grant would violate the intention of this project which is to be helpful. The Prepared mind can be flexible and work with grant candidates to determine if you are eligible and create a grant that is best suited to your financial situation.