Art Van

Art Van Employee COVID-19 Short-Term Disaster Relief Fund

In September 2020, the Art Van Employee COVID-19 Short-Term Disaster Relief Fund (the “Fund”) was established to provide financial aid to former employees of Art Van Furniture in need as a result of the Company’s sudden shutdown due to the COVID-19 pandemic. The COVID-19 pandemic is a presidentially declared disaster in all fifty states, the District of Columbia, and Puerto Rico, and constitutes a “qualified disaster” under Section 139 of the Internal Revenue Code.

The Fund is intended to assist former employees who are in financial need in meeting short-term basic necessities as a result of the termination of your employment due to the COVID-19 pandemic.

The Fund was established with an initial donation from Thomas H. Lee Partners (“THL”) of $1 million, and the Fund is being administered by an independent third party charity, Philanthropi. THL has committed to match dollar-for-dollar additional donations up to $1 million (i.e., up to $1 million additional from THL for every dollar others donate to the Fund up to $1 million). Since the establishment of the Fund, additional donations have been received totaling $50,000, and THL has matched that amount. Therefore, the current distribution of the Fund will be $1.1 million.

Eligible recipients of the Fund are former full-time Art Van Furniture employees with annual pay of $99,000 or less, and part-time employees who were receiving healthcare benefits as of March 1, 2020. Approved Fund recipients are to receive a check for $400.00 to assist recipients in meeting short-term basic needs.

If there are additional donations in the future, those amounts will be distributed at a later date in a subsequent check. The Fund will remain open for additional donations until December 31, 2020.

Former employees are eligible to receive aid for short-term relief for basic necessities based upon financial need. Checks will not be issued unless approved by Philanthropi Charitable based upon its determination that criteria established is met.

Art Van Employee COVID-19 Short-Term Disaster Relief Fund

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