Great-West Financial 2014 Employee Giving Campaign FAQ's
Answers may vary based on the agency you choose to pledge your donations. Partnership for Colorado, Community Shares and Community Health Charities operate as a nationwide partnership and are represented on one website. Partnership for Colorado will be your contact for all three.
Q: Can I give to the nonprofit(s) of my choice through Partnership for Colorado (PFC) and United Way (UW)?
A: Yes, both PFC and UW portals allow you to donate to one or more agencies of your choice that hold a valid 501(c)(3) certificate or to any agency that qualifies as an exempt organization as defined by the IRS.
If you do not see a nonprofit(s) listed, both PFC and UW have a write-in option. You'll need to provide contact details for your nonprofit. If you are designating your gift to a specific non-profit (or several non-profits), UW requires a $2 per paycheck minimum gift. Partnership for Colorado has no minimum gift requirement.
Q: Can I participate in the Employee Giving Campaign without using my Employee Match benefit?
A: Great-West Financial will automatically match your donations and deduct the full match amount from your $5,000 annual financial match benefit in January of 2015. If you do not want your Employee Giving Campaign contributions matched, you must send a request in writing to HR_Matching_Gifts@greatwest.com by December 5, 2014.
Q: Will my contact information be shared with the charities I select?
A: During the pledging process you will have the option to release your contact information to your selected charities for the purpose of gift acknowledgement. If you choose not to share your information, your gift will remain anonymous. You will not need a gift acknowledgment for tax purposes.
Q: When will the first paycheck deduction start?
A: January 9, 2015, and will continue for all 25 additional pay periods during 2015.
Q: Will my paycheck deduction automatically continue in 2016 or will I need to re-enroll during the November 2015 Employee Giving Campaign?
A: Your 2015 pledge will end with the final paycheck of 2015. To continue making donations in 2016 you will need to re-enroll for payroll deduction during the Employee Giving Campaign in November 2015 for payroll deductions beginning January 2016.
Q: If I need to stop my pledge during 2015, what do I need to do?
A: To stop your payroll deduction, send an email to the payroll@gwl.com requesting that your PFC or UW deduction be stopped. A payroll representative will let you know when the deduction will be discontinued.
Q: What percent of my donation go to UW and PFL administrative fees?
A: Approximately 15% of your donation will be withheld by PFC and/or UW in administrative fees. PFC and UW are committed to keeping their administrative expenses as low as possible and in fact their fees are far lower than the Better Business Bureau guidelines of 35%.
Q: What are the administrative fees for?
A: PFC and UW utilize administrative fees to maintain and advocate for increased access to valuable services and to administer and maintain workplace giving campaigns that raise valuable funds to support programs offered by non-profit agencies. Fees also cover costs to conduct due diligence and confirm the 501(c) (3) status of a nonprofit and make sure the nonprofit is compliant with the Patriot Act.
Q: When will my selected non-profit(s) receive my gift(s)?
A: Great-West Financial will send your payroll deductions and matching gift check 3-4 weeks after each quarter in 2015.
· PFC: distributes funds quarterly after receipt of funds from Great-West Financial.
· UW: distributes funds quarterly after receipt of funds from Great-West Financial. Agencies receiving less than $250 in a given month may receive distributions semi-annually.
Q: How do I check status and/or verify if my gift was paid out correctly?
A: You can receive personalized service on the status of your gift by contacting the following:
· PFC: pfc@partnershipforcolorado.org or 303-861-7507
· UW: cs-accounting@unitedwaydenver.org or 303-561-2313
Q: How do I receive documentation of my gift for tax deduction?
A: If your donation is made via payroll deduction, your total donation amount will be clearly indicated on your final pay stub of the year (under the Post Tax Deduction heading). Your final pay stub and a copy of your email confirmation from UW and/or PFC will satisfy the IRS regulations for claiming charitable gifts by payroll deduction.
If you made a one-time gift of $250 or more, you will receive a tax receipt directly from the PFC or UW. For all one-time gifts under $250, your pledge receipt and credit card statement will suffice. PFC and UW will only issue tax documentation for gifts of less than $250 by request only.
If you are unable to locate your receipt, would like to request a tax receipt or require additional information regarding your donation, contact:
· PFC: pfc@partnershipforcolorado.org or 303-861-7507
· UW: cs-accounting@unitedwaydenver.org or 303-561-2313
Q: Can I see what I pledged last year?
A: Yes. To receive the details about your 2014 pledge, contact:
· PFC: pfc@partnershipforcolorado.org or 303-861-7507
· UW: cs-accounting@unitedwaydenver.org or 303-561-2313
Q: What is an Enterprise Zone Tax Credit-Eligible Gift and a Child Care Tax Credit-Eligible Gift?
A: Colorado donors have an option to make one-time gifts that are eligible for the Enterprise Zone and Child Care Tax Credit. These one-time gifts range from $250 to $5,000 minimum and are clearly identified as a charity option on the giving site. Tax Credits provide the donor with an additional tax incentive on Colorado income taxes. Consult your accountant for further information about the benefits of tax credits for you. Please note that ALL gifts are tax-deductible. Tax Credits are a separate type of gift.
Q: Can I give to the nonprofit(s) of my choice through Partnership for Colorado (PFC) and United Way (UW)?
A: Yes, both PFC and UW portals allow you to donate to one or more agencies of your choice that hold a valid 501(c)(3) certificate or to any agency that qualifies as an exempt organization as defined by the IRS.
If you do not see a nonprofit(s) listed, both PFC and UW have a write-in option. You'll need to provide contact details for your nonprofit. If you are designating your gift to a specific non-profit (or several non-profits), UW requires a $2 per paycheck minimum gift. Partnership for Colorado has no minimum gift requirement.
Q: Can I participate in the Employee Giving Campaign without using my Employee Match benefit?
A: Great-West Financial will automatically match your donations and deduct the full match amount from your $5,000 annual financial match benefit in January of 2015. If you do not want your Employee Giving Campaign contributions matched, you must send a request in writing to HR_Matching_Gifts@greatwest.com by December 5, 2014.
Q: Will my contact information be shared with the charities I select?
A: During the pledging process you will have the option to release your contact information to your selected charities for the purpose of gift acknowledgement. If you choose not to share your information, your gift will remain anonymous. You will not need a gift acknowledgment for tax purposes.
Q: When will the first paycheck deduction start?
A: January 9, 2015, and will continue for all 25 additional pay periods during 2015.
Q: Will my paycheck deduction automatically continue in 2016 or will I need to re-enroll during the November 2015 Employee Giving Campaign?
A: Your 2015 pledge will end with the final paycheck of 2015. To continue making donations in 2016 you will need to re-enroll for payroll deduction during the Employee Giving Campaign in November 2015 for payroll deductions beginning January 2016.
Q: If I need to stop my pledge during 2015, what do I need to do?
A: To stop your payroll deduction, send an email to the payroll@gwl.com requesting that your PFC or UW deduction be stopped. A payroll representative will let you know when the deduction will be discontinued.
Q: What percent of my donation go to UW and PFL administrative fees?
A: Approximately 15% of your donation will be withheld by PFC and/or UW in administrative fees. PFC and UW are committed to keeping their administrative expenses as low as possible and in fact their fees are far lower than the Better Business Bureau guidelines of 35%.
Q: What are the administrative fees for?
A: PFC and UW utilize administrative fees to maintain and advocate for increased access to valuable services and to administer and maintain workplace giving campaigns that raise valuable funds to support programs offered by non-profit agencies. Fees also cover costs to conduct due diligence and confirm the 501(c) (3) status of a nonprofit and make sure the nonprofit is compliant with the Patriot Act.
Q: When will my selected non-profit(s) receive my gift(s)?
A: Great-West Financial will send your payroll deductions and matching gift check 3-4 weeks after each quarter in 2015.
· PFC: distributes funds quarterly after receipt of funds from Great-West Financial.
· UW: distributes funds quarterly after receipt of funds from Great-West Financial. Agencies receiving less than $250 in a given month may receive distributions semi-annually.
Q: How do I check status and/or verify if my gift was paid out correctly?
A: You can receive personalized service on the status of your gift by contacting the following:
· PFC: pfc@partnershipforcolorado.org or 303-861-7507
· UW: cs-accounting@unitedwaydenver.org or 303-561-2313
Q: How do I receive documentation of my gift for tax deduction?
A: If your donation is made via payroll deduction, your total donation amount will be clearly indicated on your final pay stub of the year (under the Post Tax Deduction heading). Your final pay stub and a copy of your email confirmation from UW and/or PFC will satisfy the IRS regulations for claiming charitable gifts by payroll deduction.
If you made a one-time gift of $250 or more, you will receive a tax receipt directly from the PFC or UW. For all one-time gifts under $250, your pledge receipt and credit card statement will suffice. PFC and UW will only issue tax documentation for gifts of less than $250 by request only.
If you are unable to locate your receipt, would like to request a tax receipt or require additional information regarding your donation, contact:
· PFC: pfc@partnershipforcolorado.org or 303-861-7507
· UW: cs-accounting@unitedwaydenver.org or 303-561-2313
Q: Can I see what I pledged last year?
A: Yes. To receive the details about your 2014 pledge, contact:
· PFC: pfc@partnershipforcolorado.org or 303-861-7507
· UW: cs-accounting@unitedwaydenver.org or 303-561-2313
Q: What is an Enterprise Zone Tax Credit-Eligible Gift and a Child Care Tax Credit-Eligible Gift?
A: Colorado donors have an option to make one-time gifts that are eligible for the Enterprise Zone and Child Care Tax Credit. These one-time gifts range from $250 to $5,000 minimum and are clearly identified as a charity option on the giving site. Tax Credits provide the donor with an additional tax incentive on Colorado income taxes. Consult your accountant for further information about the benefits of tax credits for you. Please note that ALL gifts are tax-deductible. Tax Credits are a separate type of gift.
