Emergency Grants to Employees

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Categories: Corporate Foundations

While the IRS permits corporate foundations to make grants directly to individuals in need within their target communities, self-dealing regulations typically prohibit them from assisting employees of their own sponsoring companies. However, corporate foundations are permitted to do so in the case of a “qualified” disaster, one that is federally declared by the president, resulting from certain terrorist or military actions, an accident involving a common carrier, or any other event that the secretary of the treasury has defined as catastrophic. In March 2020, President Trump declared coronavirus a national emergency, so it too became a qualified disaster. Learn more in this article.

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