Non-Profits Finding Relief through BP Settlement

This past weekend marked the three year anniversary of the 2010 BP oil spill that left both the environment and Gulf economy suffering. While reparation is still underway in both regards, the time allotted to file an economic loss claim is quickly passing.

While we did not experience oil on our local beaches, the April 2010 oil spill directly and indirectly impacted all manner of businesses. BP has acknowledged the trickle down economic impacts and has agreed to compensate those businesses that meet certain geographical and financial criteria.

Non-profit organizations may not realize that they are also eligible for compensation if the financial markers are met. Mentioned previously, as the economy trended down, many business owners and individuals constricted their budgets or spending habits, and charitable giving and sponsorships were likely reduced or cut. As discussed this morning in the Tampa Bay Times, “The spill scared tourists away from the state and caused people to lose jobs.”

The impacts were felt across the board, which is why this Settlement Program was created and agreed to by all parties.

Economic Recovery Group encourages all non-profits to be evaluated. There is no risk in doing so, and no cost. Any recovered funds can also be used at the business owners discretion for whatever purpose is now most pertinent, whether it be additional marketing, new employees, a new location, or other philanthropic efforts.

Are you eligible? It’s worth the look.

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