Matching Gifts
Did you know that many employers will double or even triple your gift? Some companies even match gifts made by retirees and spouses. Though every matching gift program is unique to the company, every set of guidelines is sure to include the same elements:
Match ratio
The match ratio refers to the amount of money a company will pay in relation to the original donation made by the employee. A 1:1 ratio means that a company will donate the exact same amount. The match ratio can be anywhere from .5:1 to 3:1, though it is most commonly 1:1 or 2:1.
Minimums and maximums
Matching gift programs will almost always specify a minimum and maximum amount for qualifying donations. If an employee donates less than the minimum, they are not eligible for a match. If they donate more, they are only eligible for as much as the specified maximum amount.
Employee status
Sometimes the match ratio, or even an employee’s eligibility, depends on the employee’s status. For example, a part-time employee might be eligible for a 1:1 match, while a CEO of the same company qualifies for a 2:1 match. Often retired employees are eligible for matching gifts as well, though sometimes at a reduced ratio.
Type of organization
Some companies will narrow their matching gift programs to organizations of a certain kind. For example, some companies will not donate to organizations with religious goals, though they are technically classified as a 501(c)(3).
Deadlines
It is important to check your guidelines specifically for the deadline for requesting matching gifts. Some companies put their deadline at the end of the year, while some use Tax Day as their cutoff.
“I learned about my employer’s matching program through a co-worker—they match up to $1,000 every year! They’ve always offered it, it just wasn’t something that was advertised beyond employee orientation.”
Just Ask
Ask your supervisor or HR representative if your company has a matching gift program to see if you can double or even triple your donation to Redemption Rescue. Make sure to follow the steps outlined by your employer to ensure your gift is eligible!