Were you aware that many employers have the potential to amplify your donation, sometimes doubling or even tripling its impact? Some companies extend this benefit to gifts made by retirees and spouses as well. While each matching gift program is unique to the company, they typically include the following key elements:
The match ratio denotes the proportion of money a company will contribute in relation to the initial donation made by the employee. A 1:1 ratio signifies that the company will match the exact amount donated. Match ratios can range from .5:1 to 3:1, with the most common ratios being 1:1 or 2:1.
MINIMUMS AND MAXIMUMS
Matching gift programs typically specify a minimum and maximum amount for qualifying donations. If an employee’s donation falls below the minimum, they are ineligible for a match. Conversely, if the donation exceeds the specified maximum amount, the match is capped accordingly.
In some cases, the match ratio or an employee’s eligibility depends on their status within the company. For instance, a part-time employee might qualify for a 1:1 match, while a CEO of the same company could be eligible for a 2:1 match. Retired employees may also qualify for matching gifts, sometimes at a reduced ratio.
TYPE OF ORGANIZATION
Certain companies restrict their matching gift programs to organizations of specific types. For example, some companies may exclude organizations with religious goals, even if they are classified as a 501(c)(3).
It’s crucial to check the guidelines for the deadline to request matching gifts. Some companies set their deadline at the year’s end, while others use Tax Day as the cutoff.
To find out if your company has a matching gift program that could potentially double or triple your donation to ARPO, inquire with your supervisor or HR representative. Be sure to follow your employer’s outlined steps to ensure your gift qualifies!