The organization has been rocked by the tragic accident, which claimed the lives of 4 military veterans and injured 17 other people.
The tragedy unfolded when a Union Pacific train crashed into a flatbed trailer that was carrying 12 military veterans, their 12 wives and 2 escorts across a railroad crossing near the intersection of West Front Street and South Garfield Street around 4:35 PM on November 15th.
Before tragedy struck, the parade was set to bring the military veterans and their spouses to a banquet in their honor at the Midland County Horseshoe Arena.
In the wake of the tragedy, more than $400,000 has been raised to assist the victims and their families.
Show of Support got in touch with Kenneth Feinberg -- a New York attorney who played a big role in making sure that 9/11 donations were handed out fairly.
Feinberg offered free guidance to the group.
Now, Show of Support has announced that 60 percent of the money raised will go to families who lost someone in the crash.
The other 40 percent of the funds raised will be given out to people who were hurt and hospitalized -- based on how long they were in the hospital.
Show of Support will dole out the money on December 17th.
Below is the full press release from the Show of Support organization:
Receiving more than $400,000 in financial donations after the Nov. 15 accident, Show of Support, Military Hunt, Inc. announced plans to distribute the contributions.
"We are donating one hundred percent of all the money that has been collected to help those healing during this difficult time," said Terry Johnson, president and founder of the non-profit organization that honors injured military veterans and their wives yearly with a banquet and an all-expense paid deer hunt. "We can't say thank you enough for the outpouring of support from the Midland community and the nation, and we want these funds to be with the victims and their families as quickly as possible."
In an effort to fairly disperse funds, Show of Support consulted with Kenneth Feinberg, a New York attorney instrumental in the distribution of funds after 9/11, the recent shooting at the movie theatre in Aurora, CO, and other such tragedies where private funds were gathered.
"Mere compensation in any amount can never replace lives lost or bring satisfaction to those physically injured," said Feinberg. "It is merely an effort by fellow citizens to come to the financial aid of those in distress."
"Mr. Feinberg offered his services without pay and we thank him for his guidance and expertise," Johnson added.
The preliminary plan calls for taking sixty percent of the donated funds and dividing them equally among the deceased's families. The other forty percent will be allocated to those injured based on the number of days spent in the hospital. Those treated and released the same day will be considered to have a hospital stay of one-half day.
Show of Support notified victims of the proposed plan and asked for their input. The plan is also posted on the non-profit's website asking for public comment. Comments from the community are
welcome and can be sent to email@example.com. Comments will be taken through Thursday, Dec. 6, with a distribution of funds planned for Dec. 17.
Donations are still being accepted at all Western National Bank locations or can be mailed to: Show of Support c/o Western National Bank, 509 W. Wall Street, Midland, TX 79701.
A final distribution of funds is planned for March 1, 2013 should any donations be collected after Dec. 17. The same formula will be applied to this distribution as well.