Policy Number: HR-02
Effective: 08/26/2016
Last Revised: 09/22/2017
Responsible Executive: Executive Director for Human Resources
Contact Information: 765-677-3412
Benevolence Fund Policy
I. Scope
The policy applies to all part-time and full-time permanent employees.
II. Policy Statement
The Employee Benevolence Fund was formed to assist employees with essential needs in the event of a crisis, hardship, or emergency situation.
III. Reason for the Policy
The fund’s purpose is to help us care for each other as we aspire to create a thriving community of fully devoted followers of Christ. It is a tangible method of bearing one another’s burdens.
IV. Procedures
A. Governance
An Employee Benevolence Fund Committee has been formed to oversee the distributions of the fund. Meetings of the Committee are held as needed to review requests for distribution of the funds.
B. Eligibility Criteria
The Employee Benevolence Fund Committee shall evaluate all requests using the following criteria:
- Requestor must be an employee of IWU and in a regular full-time or part-time position. Temporary employees and student workers are not eligible.
- Requestor’s financial assistance must come from, or be attributed to “undue hardship.” An undue hardship is hereby defined as an emergency, or unforeseen circumstances beyond the employee’s control, which are of a magnitude or severity that it is unlikely that the employee has sufficient resources to reasonably expect a favorable outcome.
- Undue hardship may include, but is not limited to, unforeseen expenses caused by medical emergencies, family emergencies, and acts of nature.
- Common life occurrences that would not in and of themselves be undue hardship include: expenses related to car repairs, home repair/maintenance, car accidents, legal fees, child care, credit card payments, general dentistry, and living beyond one’s means.
- Employees may submit only one application within an 18 month period. No more than 3 applications may be submitted within an employee’s total term of employment.
C. Application Process
All requests for assistance from the Benevolence Fund shall be made by submitting a “Benevolence Fund Application Form.” The application form is submitted to Human Resources, and then brought before the Employee Benevolence Fund Committee for review and appropriate action. Supporting documentation and sufficient explanation must be provided as part of the application.
D. Award Limits
The amount of a distribution depends on the need and the availability of funds. No single distribution will exceed $500, and cash distributions will be considered taxable income.
Under no circumstance is assistance from the Employee Benevolence Fund to be considered a loan. No gift may be repaid, either in part of in full. Funds from the Employee Benevolence Fund are disbursed at the sole discretion of the Committee, in accordance with the Policy, and are dependent upon money being available in the Fund.
E. Donations to Employee Benevolence Fund
Employees who would like to donate to IWU’s Employee Benevolence Fund are welcome to donate via Payroll deduction as a post-tax charitable donation to the University. Employee donations are tax-deductible and employees will receive a gift acknowledgement from the University. Per IRS regulations, employees may designate their donation to the Employee Benevolence Fund but may not restrict the gift to a specific person or family, as this constitutes a person-to-person gift, for which there is no tax deduction. Gifts restricted to a specific person or family must be refused by the University or the donor must remove the restriction.