Relief Funds: Supporting Your Own Through Disasters and Hardships
Many organizations want to help their own through difficult times. One way of doing so is by establishing a disaster and hardship relief fund that can award individual grants. Relief funds not only provide essential financial assistance for those impacted by unforeseen disasters and personal hardships, but also an opportunity for team members to give to their colleagues in need. In fact, relief funds have been shown to improve workforce productivity and morale. However, there are various aspects of relief fund establishment and administration that can be confusing: regulatory compliance; objective grant application review; international grantmaking for global workforces; large-scale disaster response; tax-advantaged donations and grants; supporting the fund through corporate and individual donations; and more. This session will provide clarity around these concepts and break down the barriers to getting started so that more organizations can support their internal communities when needed most.
Learning Objectives:
- Walk away with an understanding of the important regulatory aspects of relief funds and the various charitable structures within which a relief fund might operate.
- Walk away with an understanding of the most important considerations when establishing and administering a relief fund.
- Walk away with an understanding of the factors that can significantly contribute to relief fund program success.
- Walk away with an understanding of the common differences between self-administered and third-party administered relief funds.
Doug Stockham
Doug Stockham is co-founder and president of Emergency Assistance Foundation (EAF), the oldest and largest standalone charity designed solely to administer global disaster and hardship relief funds, thereby providing grants to individuals in need around the world. At EAF’s founding, Doug conducted an in-depth assessment of more than 100 independent relief fund programs to determine relief fund industry best practices and benchmarks. As a result, EAF developed a unique approach to disaster response by remaining adaptable, harnessing technology, creating scalable platforms and procedures, and constantly evaluating processes for improvement opportunities. EAF’s resourceful and fearless approach ensures that financial assistance reaches individuals in need as quickly and efficiently as possible, no matter the unique circumstances. EAF now administers 300+ funds around the world, serving more than 10 million individuals. In 2020 and 2021 combined, the organization awarded more than $162 million in grants to 250,000+ individuals who were impacted by disasters and personal hardships. Doug is also the founder of Relief Fund Services Group (RFSG) and Emergency Relief Fund Education Group (ERFEG); is a member of the Society of International Business Fellows (SIBF); and sits on the board of Emergency Assistance Foundation Canada (EAF Canada). Doug earned a Bachelor of Arts degree from Vanderbilt University and a Master of Business Administration degree in finance from the Wharton School of the University of Pennsylvania.
