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