Volunteering Pays

3M Gives

Did you know? For each eligible 3M employee or retiree who volunteers 25 hours or more per year, the 3M Foundation will donate $200 to the nonprofit organization. Please contact 3M Community Affairs at 651-733-0144 for more information regarding this program.

Many companies are providing matching donations for people who make contributions to their schools or donate their time as volunteers. And in many cases, you can deduct cash donations to schools on your taxes.

If you plan to claim a charitable contribution to schools on your taxes, remember to:

Keep a receipt. (Necessary if over $250).
You may designate where the money should go, as long as you or your family will not receive a direct benefit.

Companies that provide matching donations for schools include:

3Com Corporation
ADC
Cadence
Compaq
Deluxe
Donaldson
General Mills
Guidant
IBM
Jostens
Land O'Lakes
Marquette Financial Companies
Mattel
Medtronic
Minnesota Mutual
Pentair
The St. Paul Companies
Star Tribune
State Farm
Thomson Financial Services: US Bancorp and Wells Fargo
West Group

Following is an example of this benefit:

Cash donation of $250.00
Company match: $250.00
Total to school: $500.00

The approximate amount an individual will get back at tax time is $69 from federal, $14 from state. The total is $83.

In the end, you actually give $167 and your school gets $500.

Most of these companies named also have a "Dollars for Doers" Program. After an employee has volunteered a designated amount of hours to the school, the company gives the school varying amounts of cash to match the employee donation of time. This may also include time spent at PTO meetings.

Source: Minnesota Council of Foundation's website, Internal Revenue Service website, Taxcut software, company websites. Not to be construed as tax advice.