Hit hard by the recession, many companies have trimmed contributions to employees' 401(k) plans, suspended bonuses and cut back on health-care benefits. Now, a growing number are also taking the ax to their charitable matching gifts and volunteer programs.
Such programs, in which companies match employee contributions -- or donate funds based on the number of hours they volunteer -- have been popular for decades with nonprofit groups, employees and firms themselves, who use it as a recruiting tool and to burnish their image, as well as benefit from tax deductions.
... These changes are coming at a time when charities are already facing hardships due to the distressed economy. ... Donations are going to "mean far more now ... as we see a major increase in people seeking services with less dollars going around," says Stuart Tauber, senior vice president for financial-resources development at the United Jewish Appeal-Federation of New York.
The San Francisco AIDS Foundation is certainly no exception, and I'm proud to be riding in support of their programs and services. But unless I reach my $3,000 minimum fundraising, I won't be riding out on May 31.
Sure, it would be nice for a $1,975 donation -- the amount I still need to reach my minimum -- to show up all at once. But every donation, no matter the size, helps me reach my goal -- and the money goes to supporting the vital work of the foundation.
So if you've been waiting for someone else to do it first, please don't wait ... donate now. Thank you.
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