When setting up an emergency assistance fund, many companies forge ahead without putting much thought into the best practices in creating these types of programs. Failure to do so could result in a fund that is less efficient, and therefore less effective, than it could be. While not an exhaustive list, the following are some areas to consider before finalizing the details on your organization’s emergency assistance fund.
For more advice on what to consider when setting up an emergency assistance fund, contact us to set up a consultation.
Source: Stockham, D., Clontz, B. 17 May, 2012. Emergency Assistance Funds (EAFs) for Employee Hardship and Disaster Relief: Legal, Tax and Design Considerations. Planned Giving Design Center. Accessed from: http://www.pgdc.com/pgdc/emergency-assistance-funds-eafs-employee-hardship-and-disaster-relief-legal-tax-and-design-cons