June 8, 2022
Disaster Preparedness for Corporations
It’s that time of year to get prepared again! Hurricane season lasts from June 1 to November 30. In 2021, we experienced 21 named storms, including seven hurricanes, which resulted in over 145 billion dollars in damage.
Because the prediction for 2022 is an above-average hurricane season, we want to assure you we are preparing for the upcoming season and encourage you and your employees to do the same. As of May 2022, Greater Houston Community Foundation has awarded almost 7,000 Employee Disaster Relief Grants totaling more than $21 million to assist disaster victims in rebuilding their lives. With an Employee Disaster Relief Fund through Greater Houston Community Foundation, you can support your employees when disaster strikes. A partnership with us alleviates the burden of administering and managing the disaster relief application and review process. Instead, you and your team can concentrate on fulfilling short and long-term business goals.
Below is important information you should know before establishing an Employee Disaster Relief Fund at Greater Houston Community Foundation:
- Disaster Relief Funds can only be activated for federally qualified events declared as “Major Disasters” through FEMA,(storms, tornadoes, wildfires, earthquakes, etc.)
- The qualified events must have occurred within the Unites States, including U.S. territories.
- A minimum contribution of $50,000 is required to open a Disaster Relief Fund.
- Our fee is 5% of contributions (or a $2,500 minimum) and a 1% administrative fee charged monthly against the fund’s balance.
- Disaster Relief Funds take 2-3 business days to set up but may take up to five business days during a “Major Disaster.”
- All donations (individual & corporate) are tax-deductible, and grants to the affected individuals are considered non-taxable events.
- A link to accept online credit card donations can be provided to your company.
The following services will be provided when you partner with Greater Houston Community Foundation for your company’s Employee Disaster Relief Fund:
- Serve as the third-party liaison to oversee the review and approval process, taking your company out of potentially delicate conversations to ensure your disaster funds are allocated to the employees you have who need them the most!
- Receive and review employee applications and supporting documentation (including photos, insurance claims, receipts, etc.).
- Secure file management of employee applications and any associated documents.
- Process grant payments via direct deposit or check.
- Send denial or award notifications to employees.
- Maintain a ledger of all grant awards.
- Ensure compliance with IRS regulations.
While we hope for the best, we are prepared to work to help you achieve your company’s philanthropic goals during times of disaster. Please contact Director of Corporate Relations Stephanie Blair, Director of Corporate Relations, at 713-333-2233 or [email protected] to learn more about our Employee Disaster Relief Funds.