Roughly $250,000 has been donated so far to the Rebuild Hoboken Relief Fund, according to Scott Delea, one of the fund's board members.

Delea announced the number at a press conference on Tuesday morning, which was also the official launch of the fund.

"We know the need is great, and there is a considerable gap between available funds from FEMA and reimbursement, if any, from insurance," said Chairman Bernard Kenny on Tuesday. "We’d like to close the gap and do all we can to offset the financial burden that so many in our community have experienced."

The organization has created an application form for residents, businesses and charities to apply for help. The application process can be done online, or by requesting a paper copy.

The organization plans to begin dispersing aid in February.

Mayor Dawn Zimmer, who attended Tuesday morning's press conference, has estimated the damage in Hoboken caused by Sandy at about $100 million.