Matching-gift programs are a bonus that often goes unnoticed by employees
SOURCE: General Electric (GE)
Every year since he adopted his 4-year-old son from South Korea, Sean Walton, of Bedford, Mass., has made a donation to the Evan B. Donaldson Adoption Institute in New York., which advocates for adoptive families. Through its matching-gift program, his employer, Loomis, Sayles & Co. in Boston, matches his donation dollar for dollar.
"It's a great benefit because it gives the employees a say, as far as where the company donations go," said Walton, a bond trader.
Walton is among the millions of Americans who take advantage of their employers' matching gifts, a use-it-or-lose-it perk. Typically, the employee must provide proof of the donation and of the charity's 501(c)(3) status. Some employers have preapproved recipient lists, while others give employees carte blanche.
Although these programs generate millions of dollars in donations each year, they often go unnoticed by employees.
"Their rules and criteria are buried in the employee handbook," said Michael Montgomery, a Huntington Woods, Mich.-based nonprofit consultant. "It's usually up to the employee to find them."
KEYWORDS: Business & Trade, employer matching gifts programs, matching gifts, philanthropy, foundations, GE foundation, employees, GE, chicago tribune
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here