By Adam Weinger
Has your company considered instituting a volunteer grant program?
These charitable programs, which are also known as Dollars for Doers programs, are offered by companies as a way to encourage and support volunteerism among employees. Volunteer grants are just one of the many types of corporate giving programs, but over the last five years they've become the most prevalent type of corporate volunteer program offered.
The concept is straightforward. For each hour an employee volunteers with a nonprofit organization, the company will make a monetary donation to that same nonprofit. To promote ongoing volunteerism, many companies require employees to volunteer a minimum number of hours before a Dollars for Doers grant is issued.
Why should a company consider offering a volunteer grant program?
Volunteer grant programs provide many benefits to the company offering the program. Like all types of corporate giving, the company:
- Generates goodwill and positive publicity
- Attracts and retains top talent
- Creates tax benefits for the corporation
- Promoting volunteerism in communities near corporate offices
- Enabling employees to gain recognition within their communities
- Providing an incentive for employees to track volunteer hours
- Volunteer grants of $17 per hour
- Over 4,400 employees requesting volunteer grant requests in 20111
- Over $6 million donated through the company’s volunteer grant program in 2011
- Volunteer grants of up to $3,500 in technology grants or $1000 in cash
- Employees must volunteer for a minimum of 8 hours a month for five months.
- Over $10 million donated through the company’s community volunteer grants in 2011
- $500 grants for every 20 hours volunteered
- Up to $2,000 in volunteer grants annually for each employee
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