Corporate Matching Gift Programs
Beginning with General Electric 60 years ago, more and more companies have set up CMGs for the sole purpose of encouraging charitable giving by their employees and retirees.
They do this by matching their contributions to charities and non-profits, both big and small. Today it’s estimated that 65% of Fortune 500 companies have a CMG program.
Sadly however, while millions of American workers and retirees are eligible to apply for these awards, only a small percentage actually does because most aren’t aware that these CMGs even exist.
Of the $17.8 billion business donations to charities in 2014 (the last year for which complete statistics are available) over $5 billion came by way of CMG contributions. However, the lion’s share of these monies ends up going to the big national charities and non-profits as well as colleges and universities because they have the resources to actively pursue these funds. On the other hand, smaller, local charities--which provide hundreds of millions of dollars worth of services for needy Americans at the grass roots level--aren’t consistently in the hunt for these resources. While $5 billion is a lot of money, billions more are available simply for the asking.
HELPING ORCA AND OTHER CHARITIES
Through most CMGs, you can often double the value of your annual charitable donations by just applying for the corporate match. For our donors, ORCA has made the process to do so as simple as 1, 2, 3.
Step 1 :
To determine if your current or former employer has a corporate matching fund, you are at the right place! Just enter your company's name where it says to at the upper left of this page.
Step 2 :
A pop-up will then appear providing a snap shot of the Corporate Matching Gift Program for that employer
Step 3 :
Through the hotlinks provided in the pop-up, carefully fill out the application form and submit it on-line in a timely fashion.
That’s it……..it’s that easy. The whole application process shouldn’t take longer than 20 to 30 minutes.
COMPLETING THE PROCESS
In all likelihood, if you’re trying to match your contribution(s) to ORCA, we will have to provide some additional information to the CMG fund such as donation verification or perhaps our IRS identification number. So you will need to advise ORCA’s Treasurer, Claudia Piccarelli (email@example.com) in order to ensure timely completion of the process. Keep in mind that the most common individual minimum donation that companies will match is $25.
As referenced earlier, some companies also offer a Volunteer Matching Grant (VMG) for the amount of time a donor may have also have volunteered for a charity. So, check that out on the fund’s website.
Also be aware of the fact that CMGs establish their own gift cycles. Depending upon when you submitted the application, the gift may be awarded within weeks or it may take several months before the charity receives it. Once the gift is approved, you or the charity may be advised about when to expect receipt of the gift. If unexpected delays have occurred, you should follow-up to seek clarification
Something else to keep in mind: If a donor is married and a spouse worked for another private sector company then he or she may also be eligible to apply for a matching gift of their own since charitable donations from married couples are considered joint contributions. So donors will also want to explore that possibility as well.
And finally, don’t forget to save the CMG website information for future reference.
I hope this information will encourage Ocean Ridge residents to take the time to look into the possibilities of accessing a Corporate Matching Gift. That’s why we’ve made it easy for you to do so via the ORCA website. Together, they will significantly expand our charitable income and enable us to assist even more of the thousands of Brunswick County citizens that need our help. Together, you and ORCA can continue to make a significant difference in their lives for the better and in so doing enhance Ocean Ridge’s reputation as a community that cares.