Donation or Gift matching
Companies match donations made by employees to various non-profits. They match in a certain ratio up to a total max per employee per company specific financial year. The maximum match is generally the total of gift matching + volunteer hour matching. For example:
GE matches 1:1 for a maximum amount of $25k per financial year.
Microsoft matches 1:1 for a maximum amount of $15k per financial year.
Therefore, on behalf of a particular employee, GE will donate a maximum of $25k per financial year. That can go to multiple charities as gift matching or to multiple charities as volunteer hour matching or a mix of the two with some limits.
Employees can either make a donation directly to FEEF and then ask the company to match or they can make the donation via the company website. It is prudent to check first whether FEEF is in the company database.
If donation is made via the company website, typically companies aggregate the payments on a fixed schedule (some companies use monthly basis, some companies do on a quarterly basis) and route the payments via a third party service provider. For example, Oracle routes the payments via Benevity. Even if someone has made the payment on 9/26, the transactions are aggregated by the month end and Benevity sends a payment to FEEF (employee donation + company match) by 10/29. This is typical procedure of most company donations.
While there is a slight delay, it eliminates lot of things such as
You make a donation
We issue a receipt
You submit for matching
Company issues a check
We deposit those
Donations made via company are automatically matched. In the future, we want to encourage most of the eligible transactions via company.