Have Retirees who Volunteer? Receive Grants from their Former Employers!
Volunteer grants for retirees are one of the most overlooked sources of fundraising for nonprofits. But given that retirees are the most committed volunteers for many organizations, there’s value in promoting volunteer grants to these supporters.
At Double the Donation, we help nonprofits raise more money from employee matching gift and volunteer grant programs. While we’re the first to admit that many company programs are geared exclusively towards current employees, some companies extend their grant programs to retirees who volunteer on a regular basis.
Companies with Volunteer Grant Programs for Retirees
Like most major oil and gas producers, Chevron has generous employee giving programs. One aspect that differentiates the company from its peers is that its matching gift and volunteer grants are not limited to current employees. Retirees are also eligible to submit grant requests for much of their philanthropic giving.
Each employee or retiree who volunteers for at least 20 hours in a year can request a grant for $500. At $25 per hour, that makes Chevron’s volunteer grant program one of the top ones in the world. And to make it even better, each individual can request up to two grants (either for the same organization or different organizations) for a total of $1,000 annually.
Learn more about Chevron’s Volunteer Grant Program.
PNM Resources, which stands for Public Service Company of New Mexico, is an energy holding company headquartered in Albuquerque, New Mexico. The company owns both PNM and Texas-New Mexico Power (TNMP). As a long-time employer in both markets, the company has a strong passion for giving back.
In addition to PNM Resources’ matching gift program, the company also encourages employees and retirees to volunteer with nonprofit organizations by providing financial grants to the organizations as a way to recognize volunteerism. There are three tiers of grants:
- 12 volunteer hours = $100 grant
- 25 volunteer hours = $200 grant
- 25 volunteer hours and employee or retiree serves on the board of directors = $500 grant
Learn more about PNM Resources’ Volunteer Grant Program.
As one of the nation’s largest insurers, Aetna has a presence in nearly all states. Given its size and scope, it’s great to hear that the company offers multiple employee giving programs.
In addition to Aetna’s matching gift program where the company matches donations to nearly any nonprofit, Aetna also provides grants to nonprofits when active employees and retirees volunteer. Once an individual volunteers for at least 20 hours, Aetna will provide a $300 grant to the nonprofit where the employee or retiree volunteered. Coming out to $15 per hour, Aetna’s program is on the upper end of volunteer grant rates!
Learn more about Aetna’s Volunteer Grant Program.
Not many companies provide volunteer grants of $1,000 but Pfizer is one of them. In addition to matching up to $5,000 in employee donations at a 1:1 ratio and matching retiree contributions at a 50% ratio, the company also is a huge advocate for ongoing volunteerism.
At the heart of Pfizer’s volunteer grant program is a goal of encouraging regular and long-term volunteerism. Pfizer provides $1,000 grants to nonprofits where employees and retirees volunteer as long as the following requirements are met:
- Volunteer for at least 6 month
- Serve an average of six hours per month for a total of 72 hours in a calendar year
Learn more about Pfizer’s Volunteer Grant Program.
IBM – International Business Machines:
As one of the largest and most respected companies in the world, it’s no surprise that IBM also excels in the corporate philanthropy space. In addition to providing matching gifts to thousands of organizations which employees donate to each year, International Business Machines also offers multiple forms of volunteer grants for both current employees and retirees.
Specifics vary, but IBM employees and retirees who volunteer for a minimum of eight hours a month for five months can apply for cash grants of up to $1,000 or technology grants worth up to $3,500 for their favorite nonprofit.
Learn more about IBM’s Volunteer Grant Program.
Additional Resources on Volunteer Grant Programs
Want to learn more about volunteer grant programs and how they benefit your organization? Check out the following resources: