November 4, 2002
Matching gifts extend a donor's contribution
___By Teresa Young
___Wayland Baptist University
___PLAINVIEW--Glenn and Betty Bickel had been kicking around the idea of establishing an endowed scholarship at Wayland Baptist University. But when they learned they could double their money, they decided to act quickly.
___Xcel Energy, which owns Southwestern Public Service Co., is one of many companies that offer matching gifts for charitable donations made by their employees. Although Bickel had retired from Xcel in 1986, he still qualified for that benefit.
___"That kind of spurred us along," he said, adding that the couple made their first donation after learning of the program. Xcel matched that contribution to the Baptist General Convention of Texas school.
___That prompted the Bickels to finish paying out the endowment so the scholarship could be awarded soon.
___What the Bickels learned could benefit many other Texas Baptists who want to make charitable gifts to Wayland or other BGCT schools, said Russ Gibbs, vice president for institutional advancement at Wayland.
___Matching gifts from employers create "a great way for people to double their gifts, if they'll just check with their companies," Gibbs said. "One of the ways corporations support charity is by endorsing their employees' charitable requests."
___Many companies have a structure in place that allows them to match gifts made by an employee to a qualified charitable organization, with yearly limits that differ from company to company, he explained. Cash gifts or transfers of the company's stock both qualify for matching.
___Most of the oil and utility companies operating in Texas offer matching-gifts benefits for employees, as do most major industrial companies. Employees typically must contact their benefits officer to get necessary paperwork.
___The Bickels' scholarship will be awarded to a junior or senior in Wayland's School of Education.
The Baptist Standard
News of religion, faith, missions, Bible study and Christian ministry among Texas Baptist churches, in the BGCT, the Southern Baptist Convention ( SBC ) and around the world.
Contents/ Masthead / Why We're Here / Links / Archive / E-mail us/ SUBSCRIBE!/ Signup for FirstLook
|