Firm perks can vary from commuter advantages and free meals to on-site gyms and pet insurance coverage. At Ken Griffin’s Citadel and Citadel Securities, in addition they embrace a program that encourages staff to hitch nonprofit boards, backed by private presents from Griffin himself. The initiative supplies nonprofits with checks of as much as $20,000 when Citadel staff tackle board roles, as first reported by Bloomberg. Griffin’s funding helps cowl board donations and is paired with extra assets, together with governance coaching and nonprofit matching.
“Our individuals are pushed to make a distinction,” stated Julia Quinn, Citadel’s director of philanthropy, in an announcement to Observer. “By empowering staff to have interaction extra deeply of their communities and giving them the instruments and assets to do it effectively, we’re growing the subsequent technology of civic leaders and strengthening organizations and communities over the long run.”
Citadel’s Group Leaders program, launched final 12 months, has already attracted greater than 350 sign-ups and is increasing past the U.S. to Citadel’s international workplaces. Up to now, Griffin has dedicated greater than $10 million to help the trouble.
Whereas this system is designed to encourage staff to deepen their civic and philanthropic engagement, it additionally addresses a persistent problem for nonprofits: recruiting lively, fundraising board members. Greater than 70 % of nonprofit leaders say they wrestle to get board members to take part in fundraising, in response to a 2024 report from NonProfit PRO.
The initiative provides to Griffin’s lengthy observe file of philanthropy. The Citadel founder, whose web price is estimated at $50.5 billion, has donated greater than $2 billion over the previous few a long time to causes spanning schooling and drugs. His largest presents embrace $500 million pledged to Harvard College, a joint $400 million donation to Memorial Sloan Kettering alongside fellow billionaire David Geffen, and $15 million to the Nationwide Structure Heart, a museum devoted to the U.S. Structure.
The charitable pursuits of Citadel staff span universities and local people organizations centered on well being, the humanities, and anti-poverty efforts. Nonprofits which have benefited from the Group Leaders program embrace Mount Sinai, the New York Piano Society, Serpentine Galleries, Minds Matter NYC, Lotus Home and Harlem Lacrosse.
Griffin’s direct monetary involvement makes this system comparatively uncommon, however Citadel shouldn’t be alone in utilizing office perks to spur philanthropy. Different firms have rolled out advantages to help staff’ nonprofit involvement.
Microsoft and Apple, for instance, match worker donations as much as $15,000 and $10,000, respectively. Each corporations pledge $25 for each hour an worker volunteers. Chevron permits employees to use for $500 grants for each 20 volunteer hours served, along with providing a matching-gifts program.
