Industry Benefits Summary

Foundations and Grantmaking Organizations Industry- Employee Benefits Summary

The foundations and grantmaking industry deals with establishments known as grantmaking foundations or charitable trusts. Through a competitive selection process, or the personal preferences of the grantors and foundation managers, these establishments award grants from trust funds for everything from college tuition to the continuing financial support of a museum or university.

Occupations in this field can range from data entry clerks and grant writers to grant managers. In a world facing a pandemic, philanthropic work has become essential; companies looking to support specific nonprofits or individuals will need workers experienced in the grantmaking industry.

These organizations have a higher percentage of part time employees. Usually their boards play a very influential role in who the insurance broker is and the RFP process as well as likely participate in the benefit and insurance carrier plan selection.

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The Foundations and Grantmaking Organizations Industry Employment Summary

There are about 20,000 foundations and grantmaking organizations nationwide, employing 194,000 professionals. On average, each business is small, with only 10 staff members, and the average employee age is 42 years old.

The Foundations and Grantmaking Organizations Offices Insurance Benefits Comparison

49%

What percentage of grantmaking organizations offer medical insurance?

  • 49% offer access to medical insurance. This is well below the national average of 69%.
  • These businesses provide an average monthly employer premium of $1,043 for family coverage. This is below the national average of $1,121.
  • Additionally, they provide an average monthly employer premium of $502 for individual coverage. This is above the national average of $458.

25%

What percentage of grantmaking organizations offer short and/or long-term disability insurance?

25% of these employers offer short-term disability coverage, and 19% offer long-term disability insurance. The national average is 42% and 34%, respectively.

32%

What percentage of grantmaking organizations offer life insurance?

32% offer access to a life insurance plan. Comparatively, the national average is 56%.

14%

Do grantmaking organizations provide access to paid family leave?

  • 14% provide access to paid family leave. The national average is 20%.
  • 87% provide access to unpaid family leave. The national average is 88%.
  • 34% offer consolidated leave plans. The national average is 44%.

Summary

All in all, the foundations and grantmaking organizations industry stands well below the national average of providing comprehensive benefits packages to their employees. There is a lot of room for improvement, as employers should increase their benefits offerings as a way to not only meet their employee’s needs but make them feel valuable and secure in their workplace.

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