Pacific Life’s charitable involvement includes matching employee contributions to institutions of higher learning through its Nonprofit Matching Gift Program. The Pacific Life Foundation matches dollar-for-dollar Pacific Life and U.S. subsidiary employee contributions (a minimum of $50) made to all eligible nonprofit organizations (up to $500 per year). The program also matches (from a minimum of $50 to maximum of $2,000 per year) the contributions of employees to institutions of higher education (colleges and universities).
In 2013, the Pacific Life Foundation matched $242,690 in donations made by its employees.
What kinds of institutions of higher education (colleges and universities) are eligible for a match? Any institution approved by a recognized state, regional, or national accrediting agency is eligible. Such schools must also offer at least a two-year program of college or higher level studies, and be located within the United States or its possessions. The American College is also an eligible institution.
Which nonprofit organizations are eligible?
Most tax-exempt agencies under section 501(c)(3) of the Internal Revenue Code are eligible for a match. This also includes public school districts, school PTAs, accredited K-12 private schools, and K-12 school foundations that are also IRS designated tax-exempt organizations.
Which organizations are ineligible to receive matching gift contributions?
Ineligible organizations include any religious, political, veterans, fraternal, or service organizations; alumni or athletic programs/associations; honor societies; private foundations; or professional associations. Contributions to United Way chapters are matched under a different program.
Which types of contributions are ineligible to receive a match?
Ineligible contributions include:
- Contributions to scholarship funds where the scholarship is designated by the donor; contributions to athletic scholarships; payments in lieu of tuition, class dues, books, or other student or alumni fees
- Gifts made, in whole or in part, with funds received from other people. This includes funds raised in walkathons and similar fundraising events. Only the donor’s personal contribution can be matched
- Pledges of gifts which have not actually been made. Once the gift has been completed, it may be eligible for the program if it meets the guidelines
- Gifts made payable to a nonprofit organization for goods or services provided, such as cookies, auction items, or meals; raffles or games of chance, where the employee has a possibility of gain
- Dues for clubs; publication subscription fees; church-related financial commitments; insurance premiums; and other personal obligations