Federation of Organizations provides a variety of financial management programs to assist individuals with disabilities.
Representative Payee Program
Federation of Organizations can serve as a Representative Payee and provide financial management services to individuals with a primary psychiatric diagnosis who are experiencing difficulty managing their finances. Individuals may voluntarily participate in the program or come to us under a court order. A doctor must certify in writing the individuals’ need for representative payee services.
The goal of the Financial Management Program is to increase an individual’s financial stability, maintain safe housing and develop their financial skills. The ultimate goal of the program is to assist the participant to move towards self-sufficiency and independence.
Veterans Fiduciary Program
Federation of Organizations Veterans Fiduciary Program provides money management services to disabled service connected veterans. This is a fee for service program with the fee set by the Veterans Administration. The VA appoints Federation to serve as fiduciary based on the veteran’s inability to manage or direct their own finances.
As fiduciary, we work with the veteran, their social worker and field examiner to develop a working budget. We utilize the veteran’s VA benefit to pay rent, utility costs, medical expenses and any other miscellaneous expenses. We issue a VA approved personal needs allowance based on the individual’s needs and resources.
Federation is responsible for reporting any changes that could affect the veteran’s benefits. These changes can include: change of address, change of income, death, incarceration and hospitalizations. These changes are reported to the VA Field Examiner and/or the VA Fiduciary Unit.
Federation is required to maintain a federally insured savings account(s) for the veteran. Any funds not spent on the veteran’s behalf are saved in these interest bearing accounts. Federation is required to maintain all financial statements with regards to these accounts. A yearly accounting is provided to the Department of Veterans Affairs and the veteran.
Federation of Organizations Community Trust Program
Many people are concerned that an inheritance or a sudden windfall of money may cause difficulties for individuals with disabilities who are receiving government benefits. Assets can disqualify an individual from receiving SSI and Medicaid benefits in New York State.
In response, Federation of Organizations has established a community pooled trust for individuals with disabilities. Federation’s Community Trust Program will provide for the future needs of people with a physical, mental, or developmental disability without jeopardizing public benefits. Funds from the trust can be used to supplement the individual’s needs.
The Community Trust allows individuals with disabilities, their parents or grandparents to fund a trust account on behalf of the individual.
For more information on any of the above programs, please contact Financial Management Services at (631) 321-9556