The corporation that claims to have created the first matching-gifts program
for employees is marking the program's 50th anniversary.
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customized information for your industry, location, and job.
Get Your Report Now!The General Electric Company says its GE Foundation created the first matching
gift program in 1954, as a way for employees and the corporation to team up
and leverage their charitable donations. Since then, more than 7,500 other corporations
have followed suit, generating more than $1 billion annually in matching gifts
to colleges, universities, and other nonprofit institutions.
Originally, the GE Foundation focused on supporting higher education. But in
1984, it expanded the program to allow matching gifts for community-based organizations
in such areas as the arts, the environment, and social services. This year,
the Foundation will match more than $18 million in donations to community organizations
and institutions of higher learning, according to GE. It has matched $200 million
in gifts since the creation of the program.
GE employees and retirees can have their gifts matched dollar-for-dollar through
either the Higher Education Matching Gifts Program or the Community Matching
Gifts Program.
"By motivating the philanthropic engagement of our employee base, we are
applying the best of who we are as a company to make a difference in the communities
where we live and work," GE said in a press release. "As we reflect
upon the past 50 years and the milestones that have been reached, we look forward
to continuing our partnerships to respond to the pressing needs of schools and
organizations in the 50 years to come."
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