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POWER Fund Providing Others With Emergency Relief.
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POWER FundProviding Others With Emergency Relief The information contained in this Southwire University course is the sole property of Southwire Company (Southwire) and may not be disseminated. Southwire makes no warranties concerning such information and nothing contained herein shall be construed as conferring any ownership rights of the information or to any patent, trademark or service mark of Southwire to any user or third party.
PREVIEW Please view this course as a PowerPoint Show. Click the Slide Show tab in your PowerPoint menu bar and choose From Beginning or From Current Slide. You may use the buttons provided, your Page Up and Page Down or arrow buttons to move from slide-to-slide.
PREVIEW Welcome to this tool on the POWER Fund – Providing Others With Emergency Relief. You will learn what the POWER Fund does and how you can be involved. This learning item takes an average of 10 minutes to complete. PERFORMANCE EXPECTATION When you have completed this learning, you will know more about the POWER Fund and how you can be involved. TARGET AUDIENCE This course is an informational tool for all Southwire employees.
PREPARATION No courses are listed as prerequisites for this module.
What is the POWER Fund? • POWER Fund stands for • “Providing Others With Emergency Relief” • The POWER Fund provides short-term, emergency assistance to employees and their families who encounter hardship. • The fund offers both catastrophic and matching grants. The qualifying event must have occurred within one year of applying for the POWER Fund Grant. • Any employee of Southwire or its subsidiaries (except for Southwire’s Canadian manufacturing facility) is eligible to receive a grant, as long as he or she meets the various grant requirements set forth by the POWER Fund Board of Directors.
History of the Fund • The POWER Fund was created in 2005 with a contribution from Southwire Company and its leadership committee. • The fund has provided more than 1,000 employee matching grants and more than 200 catastrophic grants – all totaling more than $1.5 million. • Many of those grants have helped purchase clothing and essential items lost in natural disasters; reconnect utilities for employees living without heat, water or electricity service because of medical expenses, re-establish residences for employees and their families left homeless.
Types of Grants - Catastrophic • Catastrophic Grants provide emergency assistance to employees facing circumstances beyond their control, such as natural disasters, house fires, illnesses, or death of family members. • The grants are intended to help meet basic living expenses, including housing, basic utilities, food and clothing. • An individual who meets the eligibility requirements may seek a catastrophic POWER Fund grant up to $10,000. • Grant applications can be found online at http://www.southwire.com under the employee section. Your human resources representative or department manager can assist with the application process.
Types of Grants - Matching • The POWER Fund also recognizes the generosity of its employees toward one another through employee matching grants. • Matching grants are given when employees “pass the hat” to collect money to help a co-worker. The money collected by employees is given to the human resources representative and then directly to the recipient. • The fund will match and double the amount collected by employees up to $5,000. • When you become aware of an open matching grant, consider making a donation to help a fellow employee.
Matching Grant Donations by Check • Below are the guidelines to use when donating to a matching grant with a personal check: • Make the check payable to: “Southwire POWER Fund” • In the memo line, note the grantee’s name and grant. • Example – To donate to John Doe’s matching grant with a check, you would make the check payable to Southwire POWER Fund. In the memo line, you would note “John Doe’s Grant.”
Matching Grants Online • Employees can choose to list their matching grant information online by completing a form found online at http://www.southwire.com under the Employees tab then POWER Fund.
Contributions to the Fund • Employees can make donations through payroll deduction or a direct contribution to the fund. • Additionally, Southwire matches contributions between $25 and $1,000 per year. For a full year, a contribution of approximately $.50 an hourly pay period or $2.10 a salaried pay period will give enough to reach the $25 minimum for the company match. • Contributions are tax deductible for United States citizens, but not for Canadian residents. • For US employees, your contributions are listed on your pay stub under the deduction of PowerFd. • Contribution forms can be found at http://www.southwire.com under the employee section.
POWER Fund Cup • The POWER Fund Cup is awarded each year to the Southwire facilities with the greatest percentages of participation in the fund. • Plants, customer service centers and departments are broken into three distinct groups based on the number of employees at each facility. • Group Daytona (0-50) • Group Talladega (51-250) • Group Bristol (251+)
POWER Fund Online • More Information About the POWER Fund can be found online at - • http://www.southwire.com/employee/ourcommitment/POWERfund.htm • Below are the tools included on the above website: • FAQs • Grant Applications • Payroll Deduction Forms • Your Contribution Amount • POWER Fund Moment Videos - “Must See” • Open Matching Grants Listing
What Employees Are Saying… • “Had it not been for the POWER Fund, I truly • don’t know what my family and I would have • done about the bills when I was out of work. • It was truly a blessing because I had my • health to worry about. From the bottom of • our hearts, we would like to say thank you.“ • “The POWER Fund is powerful!”
What Employees Are Saying… • “I would like to thank my fellow employees • who stepped up and helped my family out • during our difficult time. I really think that the • POWER Fund is one of the best ideas that • Southwire has developed. I would also like to • challenge all the employees to contribute • because you don’t ever know when you may • need it. Thank you, POWER Fund.”
What Employees Are Saying… • “I can never fully explain how their generosity • touched my heart and I encourage everyone to • contribute to this wonderful fund because we • never know when we will have unexpected • tragedies in our lives.”
QUIZ • Does the POWER Fund offer educational scholarships? • Yes • No Question Answer No. The POWER Fund does not offer educational scholarships. The POWER Fund provides short-term, emergency assistance to employees and their families who encounter hardship through matching and catastrophic grants.
QUIZ (continued) • The POWER Fund page through http://www.southwire.com has several tools to learn more about the fund. Some examples include: • Grant Applications • Payroll Deduction Forms • POWER Fund Moment Videos • All of the Above. Question Answer All of the Above.
END Course creator(s): Tiffany Adams Creation date: January 2012 Course owner(s): Tiffany Adams Latest revision date: January 2012 * Course owners are responsible for revisions and updates of modules to keep information current. An annual review of courses is expected.