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GE Foundation Matching Gifts

GE Foundation Matching Gifts. Kathleen Mayglothling Program Manager March 14, 2012. “ I find out what the world needs, then I proceed to invent it.” Thomas Edison. 2011 GE Philanthropy. GE Foundation: $116M. GE Family: $201M. GE Company: $30M. GE People: $55M. Education.

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GE Foundation Matching Gifts

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  1. GE Foundation Matching Gifts Kathleen Mayglothling Program Manager March 14, 2012

  2. “I find out what the world needs, • then I proceed to invent it.” • Thomas Edison

  3. 2011 GE Philanthropy GE Foundation: $116M GE Family: $201M GE Company: $30M GE People: $55M

  4. Education Improve standards and achievement for primary & secondary education • Developing Futures • DHG Education • Scholarships - US and non-US • Common Core State Standards

  5. Health Improving access to quality healthcare in underserved communities • Developing Health Globally • Developing Health US

  6. Community Engagement Helping build communities for sustainable prosperity • Employee Programs • Matching Gifts • GE United Way Giving Campaigns • GE Volunteers

  7. Community Engagement The Challenge The needs of a community cannot be met by money alone Opportunity GE employees and retirees are active community members and help accommodate community needs through a variety of GE resources and skills.

  8. Our Focus Areas The Goal: To build deep and positive relationships where GE people live and work Communities Town Neighbors Local Infrastructure Education Health GE People Contributions Time Expertise GE Company/Foundation Matching Gifts United Way GE Volunteers Humanitarian Relief Environment

  9. Employee Programs Support GE employees and retirees in their personal philanthropy • United Way Giving Campaigns • Supports United Way and other charities with contributions, volunteers, and supplies • Additional 50% contribution from GE Foundation to local UWs • 2011 Total: $26 million • Matching Gifts • 1:1 match of employee & retiree contributions to eligible charities • Includes a broad variety of areas; available year-round • 2011 Total: $70M GE donors are eligible for both programs, but cannot use both for the same donation (i.e. no “double-dipping”)

  10. United Way Giving Campaigns • Traditional Fall timeframe for campaigns • Open-choice for employees, however the additional 50% from the GE Foundation stays with the local United Way (aligned with work location) • Contributions can be made via payroll deduction, check, credit card, or stock • Efforts include volunteer projects and special events • Total 2011 giving: $26M ($17.5 from campaigns & $8.8M from GE Foundation)

  11. GE Volunteers Employees and retirees donate time and effort towards social initiatives in their local communities. • 80 year+ tradition • 220+ Volunteers Councils in 51 countries organize over 6,200 projects annually • GE people volunteer 1.3 million volunteer hours per year • Major Partners – Junior Achievement; Red Cross; Habitat; FIRST Robotics

  12. Matching Gifts “invented” by GE “The employer matching gift program was the brainchild of Philip Reed, chair of the General Electric Board of Directors, who wanted to encourage GE employees to contribute to their alma maters. Reed believed the incentive to contribute was greater if the company matched the employee’s gift.” Since the launch in 1954, many others have followed suit and $2B has been contributed by individuals and their employers to education alone. * Source: HEP Data

  13. Matching Gifts – Then & Now 1954 5,234 $200K 359 4,928 $1,000 2004 32,941 $18M 1,781 13,927 $50,000 2011 109,948 $35M 13,360 30,194 $50,000 Gifts Registered (#) Total Matched ($) Charity Participants (#) GE Participants (#) Annual Max per person ($) Substantial increases across the board, especially following the 2005 Program enhancements

  14. Where Does the Money Go?

  15. The Basics • Minimum Donation: $25 • Annual Maximum per Individual: $50,000 • Registration Deadline: April 15 (following donation year) • Confirmation Deadline: 12 months after registration • Payment Frequency: Quarterly • Eligibility: Employees, Retirees/Surviving Spouses, Company Directors • Recipient Eligibility: Most 501(c)(3) charities Looking for more detail? Full guidelines are available at: www.gefoundation.com/matchinggifts

  16. How Does it Work? 3. Confirmation Charity confirms receipt of donation 1. Donation GE Person Makes Donation to Charity 2. Registration GE Person Registers Donation for Matching 4. Review GE Foundation review donations, charities, etc. 5. Match! GE Foundation Makes Quarterly Payments

  17. Matching Gifts Website URL: www.gefoundation.com/matchinggifts Charity Log-in GE Donor Log-in

  18. How to “get on the list”? GE Donor must first nominate charity to participate Once nomination is complete and charity is added, Donor clicks “select” to access the gift registration page

  19. Requirement: Confirmation Each gift must be confirmed by the recipient charity Charity Activity Page with Test Gift

  20. Payment Cycle Based on confirmation date, not gift date If confirmed by the last day of: March June September December Should be paid by the end of: May August November February 6-8 week review

  21. Common Obstacles/Delays • Compliance • Does the donation fit our criteria? • Does the organization fit our criteria? • Is clarification needed? • Amounts • If the donation and confirmation amounts don’t add up, the gift will be flagged for follow-up • Timing • We send reminder letters, but the website is available 24:7. No need to wait for our notification!

  22. Impact Examples Special Food & Shelter 2:1 Matching Gifts Partnerships–More than Just $$ Employee Responses • GE Aviation & the Lynn Shelter Association (Mass.): 250 volunteers donated 1,500 hours to rehab 10 apartments, build a library and computer center, and redo the lighting. Others have donated professional skills, such as IT employees providing computer support. President Bill Hayes said, "Since GE has gotten involved, the Association has been on an upswing. It has become highly respected in the community." • African American Forum (AAF) at GE Healthcare: conducted a food drive across the country, collecting more than 2,000 pounds of food for multiple charities. • “It is great to know that GE is still capable to support and help needed families during challenging times (financial crises all over the world).” • “The 2:1 is a great program and I am proud to be associated with a Company that believes in taking the extra step to support those of us who engage in philanthropic activities.” • “I was so pleased to tell my local shelter that GE would double my donation. This encouraged me to give more.

  23. When in doubt, remember this! www.gefoundation.com/matchinggifts

  24. Questions? *** Thank you!

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