Establishing your fund is simple and can be completed in as quickly as 48 hours. Creating a Field-of-Interest fund within our existing 501(c)(3) foundation allows the company to easily meet the IRS' requirements (IRS publication 3833) that "the benefit to the employer is incidental and tenuous." It also means that donations are tax-deductible and grants are tax free.
• Simple, quick and at no cost
• Field-of-Interest Fund Agreement
• Memo of understanding
We help you simplify, shorten the time frame and reduce costs of start-up. We also help define your fund’s parameters to ensure a good match for your company and employees. We combine your expectations and objectives with our survey results and interactive Q&A session.
The EAF Team starts with our Employee Relief Fund industry’s Best Practices Model and customizes it to best fit your company’s objectives, organizational structure and program goals as determined in the initial assessment. This step substantially reduces the work required by eliminating steps and reducing the amount of material to be reviewed and considered.
• Complete initial program design
• Design best fit for company organization
• Design best fit for company objectives and goals
EAF will lead your company’s team through a review and final modification of the initial design in a step-by- step process and in accordance with the design and implementation schedule.
• Review and final modification of initial design by EAF and company team.
• Recommendations for internal company decisions provided by EAF.
• Compile other major elements such as defining program objectives, type and branding; identifying key participants, planning approvals, scheduling, determining roles and responsibilities, customizing operating processes, establishing an advisory/oversight committee, establishing processes and setting a timetable.
At this stage, the program design has been completed and the processes have been defined and approved. All processes are put in place for ongoing administration of the program and each element is initiated.
• EAF’s online, interactive application page is provided
• Web pages for fund information and applications go live
• Initial solicitation: design process & establish timetable
• Inaugurate the advisory/oversight committee
• Program training of key personnel
We help you get off to a smooth and successful startup of your new fund and program. This includes the transition from startup to operating in an optimal manner.
• Donations begin
• Applications are ready to be accepted
• Grant payments ready to begin