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In December 2021, ¾«¶«Ó°Òµ’s Charities helped a mortgage company, with a large employee base located in Texas, launch an employee assistance fund. Little did that company know the widespread damage that would impact their employees just a couple months later, February 2022, when Winter Storm Landon causedÌýover 375,000 people to lose powerÌýand many accidents to occur on snowy roadways as well. Fortunately, because the mortgage company had the forsight to set up an EAF with ¾«¶«Ó°Òµ’s Charities, their disaster fundÌýwasÌýset up properly and ready to go. When their employees needed help the most, the mortgage company was able to demonstrate their commitment to their employees’ well-being and help employees through the EAF program.Ìý

You never know when a disaster or tragedy will strike, nor do you necessarilyÌýknow when an employee has hit a financialÌýrough patch and needs a little help. 39% of ¾«¶«Ó°Òµns can’t cover a $400 unexpected emergency expense, or would need to borrow or sell something to do so – and the impact of financial stress on workers costs employers 13-18% of annual salary costs.Ìý

As we approachÌý#GivingTuesday, a worldwide movement that celebrates the generosity and collective impact of charities, businesses, and individuals, consider pointing your corporate giving inward this year by making a commitment to support your staff in times of hardship and emergencies.Ìý

How exactly do you establish an EAF (also known as an Employee Relief or Crisis Fund)Ìýand should you manage it in-house or outsource the program to a nonprofit partner? While there are a few different ways you can establish an EAF,Ìýthe following are key reasons more than 150 companies have chosen ¾«¶«Ó°Òµâ€™s Charities as their EAF partner.

Employers who Choose ¾«¶«Ó°Òµâ€™s Charities as their EAF Partner benefit by:

²Ñ¾±³Ù¾±²µ²¹³Ù¾±²Ô²µÌý¸é¾±²õ°ì: Outsourcing management of the sensitiveÌýapplication review and appeals process to ¾«¶«Ó°Òµâ€™s Charities minimizes your company’s risk and legal ramifications.

ReducingÌýOverhead and Administrative Burden: ¾«¶«Ó°Òµâ€™s Charities provides consistent, objective application review, conducts necessary follow-up, approves grants or makes recommendations, and answers employee questions, allowing your team to focus on program promotion and utilization, rather than administration.

More Flexibility and Tax Advantages: With ¾«¶«Ó°Òµâ€™s Charities’ 501c3 status, grants are tax-free, and working through a public charity reduces the amount of restrictions, providing additional flexibility to defined disaster and emergency hardship categories to be covered.

Confidentiality and Uniformity: Having ¾«¶«Ó°Òµâ€™s Charities serve as point of contact throughout entire application process, provides anonymity, protecting employees’ privacy and reducing their reluctance to apply. Employees know who to ask questions to and can depend on a knowledgeable response and timely grant determination.Ìý

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If you are an employer interested in hosting an EAF to help your workforce, please complete this form and our team will follow up with you soon. Thank you.

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