How To Set Up An Employee Assistance Fund

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What is an Employee Assistance Fund?

An Employee Assistance Fund (EAF), also known as an Employee Relief Fund or an Employee Crunch Fund, is a programme to help employees cope with unexpected hardships that identify undue financial stress on them and their families. It empowers you to provide assistance by supporting your workforce financially through an external nonprofit partner that increases the flexibility of what hardships the fund can cover and lowers the administrative brunt to the company and the employee.

EAF Benefits:

No affair the scale or severity of the crisis, employee financial stress hurts companies and their employees. A Federal Reserve study found that employee fiscal stress costs employers an average of $v,000 per employee, per year, in lost productivity. Serving equally a mechanism for employers to focus their corporate social responsibility (CSR) efforts inward on employee needs and wellness, many companies establish these funds to:

• Demonstrate truthful compassion and caring for employees: Assist employees with financial challenges.
• Increase productivity, and employee engagement and retention: Retention skyrockets when employers show workers they care. The Limeade Institute reported that 60% of workers who felt cared for planned to stay for the next three years; 94% felt engaged.
• Protect employee privacy and maintain confidentiality: Companies can unobtrusively assist employees recover more apace while employee information remains confidential.
• Empower the workforce to come up together: Co-workers are provided an opportunity to help their colleagues and build an internal culture.
• Hands integrate with a giving and engagement plan: Companies can fund an EAF in a multifariousness of ways including setting bated a budget or empowering their employees to donate to the EAF through its workplace giving programme. If you don't take an existing program, your EAF can be the cornerstone for your new CSR or health program.
• Support employees where they are: Your EAF programme can support your employees wherever they may exist - in your office or at home, in-person or remote, located in the U.s.a. or internationally.

What clients are maxim:

"Thank you for helping Berkshire Bank go our EAF upward and running so chop-chop.It was asuper shine process and the America'southward Charities team wasgreat to work with, providingrelevant insights that helped u.s.a.rapidly create a program to see our employees' needs today and into the future." -- Gary R. Levante, SVP, Corporate Responsibility & Culture, Berkshire Bank

Why Partner with America'southward Charities?

Outsourcing your company's EAF to America's Charities offers special legal and tax advantages and supports your visitor's needs in social club to offer EAFs to employees in times of distress and hardship.

• Financially Prudent: Donations are tax-deductible and grants are revenue enhancement-gratis when using America'southward Charities to facilitate the program.
• Mitigates Run a risk: Provides anonymity to the applicant, protects your employees' privacy, and manages the sensitive application review and appeals process, minimizing your risk and legal ramifications.
• Reduces Overhead: Eliminates the authoritative brunt required to successfully implement and manage an EAF plan.
• Easier Management: Allows an objective third party to review applications, deport necessary follow-up, corroborate grants or brand recommendations, and serve as the point of contact to reply any questions that your employees have.

EAF Solution and Partnership Highlights:

Easy to Set, Custom-Designed Program

With an already-established infrastructure, America'southward Charities can rapidly launch and mobilize your company's EAF, allowing your company to go started and calibration faster. We can distribute assist funds within the U.s. and internationally.

• Each EAF is tailored to the parameters and qualifications provided by your company, ensuring it aligns with your corporate values and culture.
• Whether your company needs to develop an EAF program and policies from scratch or needs to outsource an existing EAF plan, America's Charities tin provide a wide range of services, including:
  • Consummate program design and development
  • Design online awarding and documentation requirements
  • Application review and follow-up
  • Grant approval
  • Distribution of assistance funds within the US and internationally
  • Regular reporting of fund activity
  • On-need employee back up
  • Overall program facilitation
  • Easy integration into a workplace giving, employee engagement, or wellness program

T ax Advantages, Privacy, and Flexibility

• Because America's Charities is a 501(c)(3) tax-exempt public charity, choosing us every bit your partner offers your company legal and tax benefits you would not receive if you a for-profit entity or in-house team administered your fund.
• Each contribution to the EAF is tax-deductible, and all grants made from the EAF are taxation-free.
• Working with America's Charities helps your company maintain employees' privacy and confidentiality, equally well equally increase participation, as workers may be less inclined to unveil personal financial hardships to their employers than they would a faceless third political party.
• From designing and reviewing applications to making grant decisions and disbursing funds, handling the appeals process, and more, America'southward Charities increases the flexibility of what hardships your company's fund can encompass and lowers the administrative burden to your visitor and the employee.
• America'southward Charities stays alee of rules and regulations so you don't have to.

Established Feel

• There are a few different ways to ready an EAF. America's Charities' decades of experience in corporate relationships, client service, and funds management ensures that your EAF is managed professionally, and we can help yous determine the best fashion to establish your programme.
• We have the capacity and expertise to support your workforce based domestically or internationally.
• Our EAF clients range from very large organizations -- including one of the globe'south largest private inquiry universities and a leading global healthcare solutions visitor; to mid-size -- including a financial institution and a shared business service; to smaller organizations -- including an energy storage company and a microbrewery.
• America's Charities understands the always-changing rules and regulations companies face with its EAF.

Since 1980, America's Charities has managed more than $750 million in funds on behalf of hundreds of businesses. Read more about our full suite of employee workplace giving and business philanthropy solutions, and consummate the course on this folio to speak with our team about your EAF program goals and needs.

What clients are saying:

"Cheers Cheers again so much for being such a lifesaver and working with me on the telephone this week to make sure our disaster fund was set up upwards properly and gear up to go. It means and so much to the states that we have an actual person we can talk to regarding these funds and that YOU are a joy to work with!" -- Cassie Croft, Managing director of Corporate Giving, AmCap Dwelling Loans

Source: https://www.charities.org/eaf-employee-relief-assistance-fund

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