Employee benefits advisors team up with charitable giving experts to integrate employee giving with financial planning opportunities in the workplace
Submitted by: Global Impact
Posted: Feb 21, 2017 – 08:00 AM EST
ALEXANDRIA, Va., Feb. 21 /CSRwire/ - Global Impact, a leader in growing global philanthropy, and AFS 401(k) Retirement Services today announced a partnership to equip corporations with holistic employee engagement and financial wellness programs to address the shifting priorities of a multigenerational workforce.
The partnership between Global Impact and AFS, an independent advisory firm dedicated to creating meaningful retirement and financial wellness programs, will provide employers with a toolkit for a strategic program that empowers employees to make informed decisions about giving, champion causes important to them, and ultimately create a bigger impact. This simultaneously drives deeper employee engagement, loyalty, and purpose in the workplace.
Considered a Donor-Advised Fund (DAF), a charitable giving tool often accessible only to foundations and high-net worth households, Growfund was designed to offer everyday working Americans the opportunity to create their own foundations. Growfund operates like a 401(k) or a personal foundation, with funds able to be saved or invested and grown over time. Employees can plan for their giving the way they plan for their future, with the ability to make grants to more than 800,000 charities or thematic impact funds. Growfund stays with the employee for life. For companies to support employee giving, Growfund offers matching and payroll giving functionality, as well as the ability to receive a single tax receipt for all contributions, drastically relieving the administrative burden associated with most campaigns.
"Individual donors are the bedrock of charitable giving in the United States," said Ann Wheatley Canela, Vice President of Global Impact. "In our work at the nexus of the private and social sector, corporate citizenship is becoming more important to establishing employee productivity and loyalty. Growfund offers an efficient and effective way for companies to engage employees in creating real social impact."
Alex Assaley, Managing Principal at AFS 401(k), said, "The landscape for retirement plans and employee benefits is changing—companies and their employees want more tools, resources, and guidance to steer a worker’s entire financial picture. We are proud to partner with Global Impact to provide solutions for employee engagement and financial wellness through this platform. Growfund offers a unique opportunity to align the spectrum of health, wellness, and financial benefits by operating as a horizontal component to an organization’s holistic wellness and engagement benefits, right alongside the organization’s 401(k) and student loan repayment programs."
About Global Impact
Global Impact is a leader in growing global philanthropy. The organization builds partnerships and raises resources that help the world’s most vulnerable people by providing integrated, partner-specific advisory and secretariat services; campaign design, marketing and implementation for workplace and signature fundraising campaigns; and fiscal agency, technology services and integrated giving platforms. Global Impact works with nearly 450 public and private sector workplace giving campaigns to generate funding for an alliance of nearly 130 international charities. Through strategic council and implementation support, Global Impact equips private sector and nonprofit organizations to achieve their philanthropic goals. The organization also serves as administrator for four of the world’s largest workplace giving campaigns, including the Combined Federal Campaign of the National Capital Area (CFCNCA) and the Combined Federal Campaign-Overseas (CFC-O). Since 1956, Global Impact has generated more than $1.7 billion to help the world’s most vulnerable people.
About AFS 401(k) Retirement Services
AFS 401(k) Retirement Services is an independent retirement plan advisory firm located in Bethesda, MD. Founded in 2006 and with $1.1 billion in assets under management currently, AFS 401(k) has helped companies and their employees simplify complex retirement plans by offering services in fiduciary oversight, plan design and customized employee education programs. AFS 401(k) has received numerous accolades for their work in retirement plans, including Lead Advisor Alex Assaley being honored by Employee Benefit Adviser as Retirement Plan Advisor of the Year.
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Securities and advisory services offered through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Advisor.
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