As an employee or job seeker, you’re likely familiar with the benefits of employer-sponsored health insurance, retirement plans, and paid time off. Many people don’t realize that employer donation matching is also a key benefit for employees. This often overlooked benefit can make a significant impact on your favorite charities and non-profits without ever costing you a dime. Let’s take a closer look at what employer gift matching is, how it works, and why you should take advantage of it.
What is a Matching Gift?
In essence, employer donation matching is exactly what it sounds like: an employer matches their employees’ charitable contributions to eligible nonprofit organizations. For every dollar donated by an employee, the employer will donate an equal or predetermined amount, essentially doubling the impact of the donation.
This is a win-win for employers and employees alike. Employees get the chance to support causes they care about while knowing their donations are being maximized. Employers get to show their commitment to their communities, helping to enhance their reputation and attract and retain talent.
To partake in donation matching, employees typically must submit proof of their donation to a qualified nonprofit organization. The employer verifies the donation and matches it in accordance with their predetermined criteria. The matching ratio can vary from one company to the next, but some employers opt to match donations up to a certain limit, such as $1,000 per employee per year.
Employer matching donations help workers feel more connected to their employers. It’s a simple, effective way to make a positive impact in the world while also strengthening the bond between employee and employer.
How Do Companies Match Donations?
Companies that offer employer matching gifts usually set up a program that outlines their criteria. Check with your company’s Human Resources department for guidance on the maximum amount they will match per employee per year. They will also shed light on the types of organizations they will match donations for and the percentage of the donation they will match. Employees are usually required to submit proof of their donation to the designated nonprofit organization. Then, the company will verify the donation and match it in accordance with their criteria. Some companies use third-party platforms to facilitate the donation matching process.
Does My Company Match Donations?
If you’re unsure about whether or not your company has an employer matching gift program, check with your Human Resources department. They’ll be able to answer your questions about your company’s policies and benefits. You can also check your employee handbook for further guidance on employee matching procedures.
How to Match Donations
If your company offers employer match charitable contributions, the process of donating may be easier than you might expect. While your company may have its own way of navigating this process, most require employees to submit proof of donation to get the ball rolling. Simply make your donation to Reality Changers and check to see if your HR department needs you to fill out any forms pertaining to employer matching. You may need to print off or send over a copy of the confirmation of your donation. Most companies handle this part of the process online.
After receiving confirmation of your donation and ensuring that the donation is eligible for matching, your employer will make their matching donation. A check is issued and the donation is complete. Monthly donations are also sometimes eligible for matching, so be sure to do your due diligence to maximize this benefit.
The entire process of employer matching gifts typically takes employees just five minutes or so. With a little effort on your part, your donation can go twice as far!