Press Release: ITRHFM Survivor Fund Benefits Increased

[For The Industry]

Chattanooga, TN – October 22, 2019 – At its annual general meeting, the board of directors of the International Towing and Recovery Hall of Fame and Museum (ITRHFM), announced an increase in the death benefit available to families when industry tragedy occurs.  In recent months, the Survivor Fund has enjoyed some generous giving from many of its partners around the industry.  Having applied its financial stewardship formula, the board reset the death benefit paid to each approved application from $5,000 per incident to $7,000 per incident. If the deceased was employed by a company who was a member in good standing of the museum at the time of the incident, or if the deceased was a member in good standing, the benefit increases to $9,500, up from $7,500.

 

"We are blessed with a healthy financial position provided by the generosity of our industry,” said Jeffrey Godwin, Survivor Fund Committee Co-Chairman.  “With an eye toward long term support of the industry, we implemented a formula a few years ago to drive our giving.  The result is one where the support of the Survivor Fund by our industry has allowed us to make a significant increase to the amount we are able to provide families going forward.”

 

The Survivor Fund is supported by individual operators, towing and road service companies of all sizes, motor clubs, industry suppliers and many more.  The pledge program for the Survivor Fund works to replenish funds paid out at the time of industry tragedies and provides stability allowing increases to the benefit by gaining support from contributions as simple as those where individuals and companies pledge as little as $5 per death.

 

“It is our hope that all companies across our industry will become members of the museum to preserve our history and to provide this meaningful protection for the families of their employees,” said Lee Roberts, Survivor Fund Committee Co-Chairman.

 

The Survivor Fund, founded in 2006 and managed by the International Towing and Recovery Hall of Fame and Museum, was started to offer financial support to the families that have lost a loved one in the line of service within industry. Since 2006 the Survivor Fund has approved and paid out hundreds of claims to support families in their time of need due to tragic accidents.  The ITRHFM is working to build a perpetual fund while also supporting families as the fund is built.  Increases in benefits to families are made based on the fundraising of the Survivor Fund and the increased security of the Fund based on its investment health.

 

 

About ITRHFM

The International Towing and Recovery Hall of Fame and Museum, located in Chattanooga, TN, houses an array of displays and exhibits showcasing the history of towing and recovery. The rotating collection includes early equipment by Manley, Holmes, Vulcan, and Weaver. The Hall of Fame honors individuals who have significantly advanced the industry. The Museum includes a theater, a library, and a gift shop selling souvenirs related to the towing industry. On the outside grounds is the Wall of the Fallen memorial, dedicated to towers who died in the line of service. The ITRHFM Survivor Fund assists the families of the men and women that have made the ultimate sacrifice in the line of service by providing a uniform financial gift at the time of their loss. ITRHFM is a non-profit 501(c)(3) organization and accepts donations for its programs and operations from individuals, corporations and groups.  Learn more at www.towingmuseum.com.

[rreschran]

Congratulations Jeff for this year's events at the tow show, HOF, WOF and the auction. Although dinner was a bit of a debacle, none-the-less, you all raised an incredible amount toward the survivor fund. If it's not against any rules of disclosure, could you please tell everyone just how much was raised as a final total. Christine and I truly had a great time attending this year's events and it was really great to talk with you. I have a dollar amount that I remember hearing, but I don't want to overstep my bounds. Thank you and the entire board for all you do in the interest of the towing and recovery community.     R.

[yoBdaBenO]

Bout Damn Time, that's a number that will help families struggling with a loss of income. I was totally taken aback when I heard the financial burden these families endure and the length of time it takes to settle with any benefits or legal actions.

[rreschran]

Experiencing the loss of a parent killed in the line of duty for any first responder, tow operators and highway workers alike is a really hard road to navigate. What makes matters worse are those who haven't prepared ahead of time for any unfortunate accident or incident. While it's true nobody likes to think about a violent ending, the reality of the towing and recovery industry suggests that towers should seek out some kind of life insurance, accidental death burial benefit, have a living trust, power of Attorney, Last Will and Testament ... even a "Do not resuscitate" order. Those all are sometimes hard to afford, especially on the low pay that the industry provides. Even Worker's Comp benefits are slow coming.

Having one's affairs in-order can help with those difficult times when an unfortunate ending occurs.     R.

[For The Industry]

I do not have the exact figures but between some tremendous donations and other efforts that week we raised close to $100K for the Survivor Fund and the auction raised about $175K for the museum.  The events were great and I appreciate everyone's support.

[rreschran]

That's really awesome Jeff. I guess that sets-the-tone for the amount to beat next year. Special thanks goes to all towers, owners, sponsors, and participants who opened their saving's accounts to purchase from the auctions ... especially all of those $100 dollar bills floating towards the podium. The quilt alone sale was amazing. Wow.     R.

[Moose]

About how many families have made formal request for these funds. And can you say how much has been paid out either over how many years or just this year? I know many families likely never get the information and it even takes time to track them down after the tragic event. Has that changed over time? Keep Up the good work Jeffrey!

[For The Industry]

I do not have the accounting info here at home but we generally get requests on about half of the tragedies that occur in the industry.  Our committee reaches out proactively to the companies to try to serve as many families as possible but half is typically the outcome.  I am also not sure of the total paid out to date but having been doing this for more than a dozen years, it has been great to see the Fund grow and to help many families.  Our payouts have been in the nundreds of thousands of dollars and we have a financial position that will ensure the Fund is here for those that need it on a perpetual basis.  Unfortunately, the first $9,500 check under this new payout amount was written yesterday.  The good news is that the benefit has grown and we often hear about how helpful and impacting it is to these families at a critical time.