Business owners who use a Giving Fund (donor-advised fund) at NCF can mobilize resources in their Fund for their employees in need. If you have a heart to help your staff and community, we’ve got an experienced ally who can help.
With the coronavirus spreading across the country over the last few weeks, it’s difficult not to feel paralyzed by the speed at which our world is changing. The impacts on the lives of our neighbors, friends, family, and the people in our surrounding communities, are serious and are rapidly pushing many into uncertain circumstances.
Many of our NCF givers are asking how they can help individuals and employees through the money they have set aside for charity in their Giving Funds.
Because of resulting economic turmoil, business owners are making difficult decisions about lay-offs, furloughs, or reduced work hours, affecting thousands of employees and their families. Many of our NCF givers are asking how they can help individuals and employees through the money they have set aside for charity in their Giving Funds.
There is some good news.
While NCF is not a provider of Corporate Assistance Programs (CAP), Helping Hands Charitable, through ProvisionBridge, is an experienced, like-minded, provider of CAPs that serves business owners who are seeking charitable solutions or benevolence for their employees. Employer-initiated CAPs are a tax-efficient vehicle to mobilize resources directly to employees who need them the most during economic hardship.
Over the last 20 years, Helping Hands Charitable has distributed $750 million for the benefit of individuals in financial crises with programs created specifically to relieve individuals in times of economic hardship. According to Bryan Green, CEO of Helping Hands, NCF givers have already disbursed more than $200,000 to individuals impacted by the coronavirus.
Over the last 20 years, Helping Hands Charitable has distributed $750 million for the benefit of individuals in financial crises.
While the CARES Act will help benefit many impacted by the economic fallout due to the coronavirus, NCF Giving Fund holders may want to consider providing further financial assistance to their employees.
What can you expect?
- Employers can expect an initial introductory call with ProvisionBridge to discuss the details of the program. ProvisionBridge will then work with employers to structure their CAP program according to their needs. ProvisionBridge reports having set up and resourced some CAPs within just days from initial contact.
- In most cases, funds distributed from CAPs provide financial relief to employees by paying for bills such as rent, mortgage, healthcare costs (doctors visits, medication, etc.) or, in some cases, are granted directly to recipients on a case-by-case basis.
- The CAPs program on COVID-related responses operates at a 5 percent fee upon your Fund.
- You also have the option of transferring unused funds back to their NCF Giving Fund after the crisis has passed in order to continue their regular giving goals and charitable donations.
To mobilize the charitable resources from your Fund into a CAP program contact your local NCF office to help guide you through the process.
In these uncertain times, we have the opportunity to show Christ’s love through immediate action. As employers, you are able to be the arms and feet of Christ.