Employer Matching Gifts
Guideline to Establish an Employer Matching Gifts Program
The Matching Gifts Program for education is part of our contributing support for the institutions that equip the leaders of tomorrow.
The program’s principal objectives are:
- To encourage employees to support higher education, and
- To give employees across the corporation a voice in selecting the educational institutions supported by our corporate philanthropy.
Who may participate?
- All active full-time employees of the organization and its operating companies and majority-owned subsidiaries. Full-time employees must have at least one year of continuous service.
- Temporary and part-time employees who have been employed for at least two consecutive years and have worked a minimum of 1,000 hours per calendar year (at the time of gift) may participate.
- Members of the organization’s board of directors are eligible.
- Retired employees with 10 or more years vested in the organization.
- Educational institutions that are degree-granting graduate and professional schools, universities, four-year and two-year colleges, community colleges and technical schools which are located in the United States or one of its possessions.
- The educational institutions must be accredited by one of the six regional accrediting bodies established by the U.S. Secretary of Education and/or listed in the Higher Education Directory.
- An eligible educational institution must be a state college or university or must be recognized by the Internal Revenue Service as exempt under Section 501(c)3, must not be classified as a private foundation under Section 509(a) and must be eligible for income tax-deductible contributions.
- The corporation will match dollar-for-dollar charitable contributions to educational institutions from a minimum of $25 per gift, up to a maximum total per donor of $2,000 in our corporate fiscal year.
- Personal gifts must be paid (not merely pledged) to an eligible school, and may be in the form of a check or marketable securities. Gifts of securities will be valued at the closing market price on the date of the gift. The security must be traded on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ National Market.
- Tuition payments or gifts that reduce tuition of student loans.
- Gifts that benefit specific individuals designated by the donor, such as scholarships or financial aid.
- Unpaid pledges.
- Payments for books, student fees, alumni dues, magazine subscription fees, insurance premiums or other payments which are not direct gifts to an eligible school.
- Gifts made with funds provided to the donor for donation purposes by other people.
- Gifts made to reduce a personal financial commitment (such as a tithe or church-related assessment).
- Gifts below the $25 minimum or gifts to the extent they exceed the $2,000 maximum in any corporate fiscal year.
- Gifts made to separately incorporated fundraising entities such as athletic funds, athletic teams, booster clubs, fraternities and sororities.
- Any gift which results in a direct benefit or service (or results in more than an incidental benefit or service) to the donor or the donor’s family.
How the Matching Gifts Program works
The directors of the organization reserve the right to revise, suspend or terminate this program at any time. Directors will determine any questions of eligibility and their decision will be final.
- The donor fills out Part A of the Matching Gifts Form and sends it with the gift to the school. A separate form must accompany each gift.
- An authorized financial officer of the recipient school completes Part B of this form and then mails the entire form (Parts A and B) to:
City, State, Zip Code
- To be eligible for matching, the form must be received by the organization within 90 days of the date of the gift.
- The organization may request additional information about the gift from the donor and/or the recipient school.
- The organization matches gifts throughout the year and will notify the donor when the matching contribution has been made.
- Matching contributions must be used to advance the educational objectives of the recipient school and may not be used for any purposes listed in the Ineligible Gifts section. Beyond that, the matching gift contributions from the corporation are unrestricted.
- For more information, contact the organization at telephone ___________________ or email _____________________.
Need more information?
We would be happy to answer any questions you may have or to help you plan your gift to Corban!