Many District residents are struggling to cover their bills during the economic crisis. Bernstein Management Corporation (BMC), led by FC2 Trustee Josh Bernstein, stepped up to make sure its community of tenants and building workers received needed support.
Its leaders went to their Board, investors and the Diane & Norman Bernstein Foundation with the idea of setting up a special fund to help residents bridge the gap so that their basic needs would be met.
By mid-April, they had set up the $1 million BMC Cares Fund and were accepting applications from their 6,200+ residents for cash assistance of between $500 and $2,500 for those experiencing economic distress from the pandemic. Roughly 10 percent of residents applied for assistance. BMC partnered with the Greater Washington Community Foundation and Capital Area Asset Builders (CAAB) on this initiative.
The BMC Cares Fund is also looking out for the 200 contractors who clean or keep buildings secure by giving each of them a $250 relief grant for their basic needs and wellness. The fund made an additional donation to Mary’s Center to provide cash assistance to their patients in the DMV.