Doubling your Donation: How your Employer can Help
Posted on January 21st, 2020
The holiday season comes and goes, and while you sit at your desk reviewing your Christmas expense totals, a thought dawns on you… You forgot your annual charitable donation! As you hastily type the name of your preferred local charity into the Google search bar, you visualize different numbers in your head, mentally wrestling with the idea of maximizing your contribution without breaking your post-holiday bank.
Before you give up and settle on the same donation as last year, STOP! There may be another solution for you.
Many local, state and nation-wide corporations match financial donations made by employees to nonprofit organizations, most often giving one dollar for every dollar donated. This gift matching ratio varies based on the company and sometimes even the position or standing of the donor.
According to America’s Charities, 65% of companies offer gift matching programs with a range of maximum gifts typically varying from $1,000 to $15,000. While this large percentage of companies is willing to match financial donations made by employees, only 7% of employees at qualifying companies utilize such philanthropic programs.
This underwhelming number is largely due to general unawareness on behalf of company employees. A popular gift matching database, Double the Donation, reports that 78% of employees at eligible gift matching companies are unaware of existing programs.
The first step in increasing philanthropic giving for 2020 is taking advantage of existing company programs that financially support nonprofits both locally and around the country.
Unsure if your employer matches financial contributions to your favorite nonprofit organization? Check the list below for popular companies that offer to match employee financial giving.
Bank of America
Capital Group Companies, Inc.
Charles Schwab Corp Foundation
Chase Manhattan Bank
Deluxe Corporation Foundation
Dow Chemical Co
Eli Lilly and Company Foundation
Emerson Charitable Trust
Federated Department Stores Foundation
Fidelity Investments Charitable Gift Fund
General Mills Inc.
General Motors Foundation
Independence Investment Associates Inc.
John Hancock Financial Services Inc
J P Morgan Chase Bank, N.A.
Keystone Associates Inc.
LandAmerica Financial Group Inc.
Lilly Endowment, Inc.
Lumina Foundation For Education
Morgan Stanley & Co.
Nationwide Mutual Insurance
TCF Financial Corp.
The Capital Group Companies
US Bancorp Foundation
Wells Fargo Foundation
K. Kellogg Foundation
Wyndham Worldwide Operations, Inc.