On Oct. 20, GreatAmerica Financial Services Corporation announced that it will double its charitable giving by launching a new philanthropic fund directed by its employees.
According to a news release sent by the company, the new Employee Advised Fund is in addition to the GreatAmerica Donor Advised Fund which was established in 2001. The funds are expected to provide more than $1 Million to projects in Cedar Rapids and Iowa City each year.
Both funds will be managed by the Greater Cedar Rapids Community Foundation for the benefit of greater Cedar Rapids area.
“The Employee Advised Fund will bring increased awareness of the non-profit community to GreatAmericans who wish to learn more about and participate in community betterment efforts,” said Martin Golobic, Co-Chief Executive Officer at GreatAmerica in the release. “It’s also an opportunity to understand their perspectives based on their personal beliefs, values and experiences.”
The Employee Advised Fund will focus on four areas: Health and Human Services; Arts and Culture; Environment; and Public Projects. Non-profit organizations can visit GreatAmerica.com to apply to the fund. Applications will be voted on by all employees, then funded with the objective of exhausting the fund each year. The fund is expected to increase its giving amounts as profitability increases.
According to the release, nonprofits applying for funding must have a connection with a GreatAmerica employee and be a registered 501(c)(3) organization among other eligibility requirements.
Applications for the first funding cycle will be accepted at greatamerica.com/about between October 20 and December 2, 2022.