What is an Employee Assistance Fund (EAF)
An Employee Assistance Fund is a program created to help relieve employees and associated members of unexpected financial hardship. Your Fund will be composed of tax-deductible charitable contributions made by the sponsor company and individuals interested in supporting this program. Grants are paid out to eligible applicants and are not subject to income tax.
What is the cost to establish my company’s EAF?
For EAF pricing visit our Contact Us page.
Is there a required amount that the employer needs to initially contribute into the EAF?
Although there is no required minimum amount that an employer needs to initially contribute; so that grants can immediately begin to go out to employees, best practices are for the employer to provide an initial contribution to the Fund.
Are all contributions into the Fund tax deductible?
Yes. After each contribution, the contributor will receive an email with the contribution receipt to use for tax purposes.
Who can contribute to our company’s EAF?
You as the employer, employees, and anyone in your community that is interested in contributing to your EAF can do so.
How can my employees and the community contribute to our company’s EAF?
You’ll be provided with a website specific to your organization that allows for contributions into your Fund as well as grant application submissions. We also can support contributions via payroll deduction.
Are there matching/seeding options available?
Absolutely, the most successful EAFs feature a matching program created by the employer and the employees work together with their employer to support the Fund.
Is there a minimum amount required for employee contribution into the Company Fund?
The minimum amount required for contribution is $1.
In order to receive grant awards, are employees required to contribute to the Fund?
No. Employees are not required to contribute to the Fund in order to be awarded a grant. The Fund is established to assist all employees within your organization that meet the Charitable Class eligibility.
Is there a committee that determines which employee receives the Grant award?
Yes, Philanthropi Charitable Selection Committee makes completely objective decisions. Over 50% of the board is comprised of objective members that are not employed by Philanthropi Charitable. The board uses your Company’s Fund Criteria to help determine whether or not the employee is eligible for the grant. Prior to awarding the grant, we will contact you to ensure that that employee requesting the grant falls within the Charitable Class you have established.
Can donations be directed to a specific employee?
Regulations do not allow for donations to be earmarked for specific individuals. All donations are added to the Fund so as to support as many employees as possible.
Is the grant tax-free?
Yes. Grants are tax-exempt.