Does Your Relief Fund Offer Tax-Deductible Donations and Tax-Free Grants?
July 15, 2014
The Ins and Outs of Emergency Financial Assistance Grant Distribution
September 23, 2014September 16, 2014
Research shows that more than 70% of relief funds are set up by companies with over 10,000 team members. These companies have a large team member base to draw from when it comes to contributions, and tend to have team members scattered across the country and often, around the world. It is true that these companies have the resources to create large team member funds. However, that does not mean that smaller companies cannot also build successful funds, even if on a smaller scale.
In times of need, every little bit counts for the impacted team members. While it would be wonderful to have a large fund to pull from when distributing grants to deserving team members, it is also useful to have a fund available to make smaller grants. Covering even a portion of someone’s expenses when they cannot afford to is still appreciated and helpful.
Organizations with fewer than 10,000 team members often have the benefit of enjoying a closer-knit working environment. Where this is true, each person is more likely to feel as if the company values their contributions to the organization than with a larger organization. Further, they may feel much more affinity towards their co-workers. Building on that sense of community with a relief fund is a great idea. The organization should encourage team members to join the company in taking care of each other through contributions to a relief fund. Every dollar counts, and the team members are likely to realize that when they know the fund will help the co-workers they see every day.
Source: An Environmental Scan of Disaster Relief & Employee Hardship Funds, September 2013. https://emergencyassistancefdn.org/wp-content/uploads/2013/11/Environmental-Scan-Disaster-Relief-Employee-Hardships-Funds-White-Paper-1013A.pdf
