Employer’s Match Doubles Gift
From the summer 2008 issue of UConn Momentum
Corporate matching gift programs can help significantly increase the effectiveness of an employee’s charitable gift. For Michael Douglass ’79 and his wife, Tamela Richards, a 100-percent match from their employer doubled their $25,000 gift to $50,000.
“I am fortunate to work at Texas Instruments, a company that provides matching gifts to many charitable and educational organizations,” says Douglass. “This allowed us to increase our gift to UConn and make it that much more valuable.”
Each year, thousands of UConn supporters take advantage of similar programs. In fiscal year 2007, the UConn Foundation received nearly $1 million in matches on gifts from about 2,400 donors. So far this year, matching gifts and pledges have exceeded $1 million on contributions from about 2,000 donors.
“Matching programs help donors give more toward the areas they’re passionate about,” says Lisa Baronio, vice president for development at the UConn Foundation. “We regularly see gifts increased by 50 percent or more. Unfortunately, some people miss out on matches because they don’t know that their companies will do this for them. That’s why we encourage donors to check with their employers.”
Douglass and Richards were pleased that the match substantially increased an endowment with special meaning for them. In gratitude for their parents’ support, the couple has established scholarships at their alma maters in their parents’ names.
“Both my wife and I were blessed with parents who supported our education,” says Douglass. “What better way to return the love and support of your parents? This way, we can help many generations of students like our parents did for us.”
The Richard and Helen Douglass Endowed Scholarship in Electrical Engineering will be given to full-time undergraduate students in the electrical and computer engineering programs at the School of Engineering. Recipients must demonstrate academic achievement and financial need. Douglass hopes the scholarship will help the school attract the best students and contribute toward enhancing the school’s reputation.
“Beyond recognizing our parents, this gift will allow UConn to encourage other top students to attend the school. More top students in the School of Engineering make it more prestigious, which, in turn, encourages other students to attend. Every little gift helps the school get a little better,” says Douglass.
Marty Wood, assistant dean for undergraduate education at the School of Engineering, adds that the need-based scholarship will enable employed students to work fewer hours, and focus more on academics. Furthermore, it will help students who need financial assistance to stay on track to graduate in four years.
“With the cost of education increasing, coupled with the rigors of any engineering program, the merit- and need-based scholarship will benefit the student in many ways,” Woods says.
A partial list of companies with matching gift program is available at www.matchinggifts.com/uconn. To support the School of Engineering, contact Michael McCarthy at 860.486.9382.
