FAQ - OrganizationOVERVIEW - Program Change
3M Donors have always had the option to designate their gifts to special projects. Effective January 1, 2004, for 3M donors who do NOT designate their gifts, both the gift and 3M Foundation match will be designated for 3M and Alumni Scholarships. There is no change for donors who designate their gift for other purposes. The 3M Foundation match follows the gift. Donors who want to leave the decision up to the university must designate their gifts to "General Fund, President's Club, unrestricted, etc."
3M Matching Gift Program Scholarship Questions
Q: Why is 3M making the change to designate gifts?
A:Annually the 3M Foundation matches 3M employee and retiree gifts of about $1.5 million to higher education. Universities across the country are challenged to raise scholarships to attract and retain students. Together 3M donors and the 3M Foundation will help meet this on-going need. For donors who do not designate, both the gift and match will go toward student scholarships. Donors that want the University to allocate funds should designate their gift to the "General Fund," "Annual Campaign," etc.
Q: Does "3M and Alumni Scholarships" simply mean general scholarships?
A: It is up to the institution to decide which disciplines and students receive the scholarships. Our preference is toward math, science or business since many, but not all, of our employees majored in these disciplines.
Q: Can a donor make changes to a registration that was previously made?
A: No. When donors enter the Matching Gift site, they must review the program guidelines and click on a button that indicates they have done so. Once the gift is made, we will not go back and make changes.
Q: Can a donor remove a previous registration?
A: No, once the gift is made and closed, it cannot be altered. It is important that donors read and follow the instructions.
Q: If a donor indicated their designation to staff at the college but did not list the designation when they registered for the matching gift, what should we do?
A: We do not intend this to be an onerous process. Donors are asked to follow the program guidelines. If the donor neglects to designate the gift online yet the designation is clearly noted on the paperwork, it is okay to reallocate the funds. We ask you to keep this documentation in your files for seven years in the event the 3M Matching Gift Program is audited. Please submit this change in writing along with a copy of the Donor's correspondence to: Matching Gifts Coordinator, 3M Community Affairs, Building 225-1S-23, St. Paul, MN 55144-1000.
Q: If the gift was made and registered online in 2003, but not verified by the university until 2004, can the match be directed to the General/Annual Fund/considered an unrestricted grant?
A: The change affects gifts made after January 1, 2004.
Q: How does an organization set-up a 3M scholarship fund?
A: If donor gifts and 3M Foundation match exceed $5,000, we request the college establish a 3M and Alumni Scholarship account/fund and issue the scholarship in this name. If total giving is less than $5,000, funds may be added to a general scholarship program. There is flexibility on how the program is implemented; the intent is for the gifts and match to go to student scholarships. Funds should be expended within two years and should not be used to establish an endowment.
Q: Define "3M Alumni Scholarship."
A: The award would be a 3M and Alumni Scholarship since it is generated by 3M employees/retirees and matched by the 3M Foundation. It is up to the college to select scholarship recipients. The intent is not to establish a fund for 3M dependents. Awards should be made based on college scholarship criteria.
Q: Should we establish a scholarship fund agreement?
A: There is no need to draw up a fund agreement. The intent is NOT to establish a permanent endowment but to expend the funds to benefit students within two years of the gift.
3M Matching Gift Program Online Process Questions
Q: When does the 3M Matching Gift Program year-end?
A: The Matching Gift Program is on a calendar year. Gifts made during the calendar year must be verified on-line by February 28 of the next year. After that date, the gift is no longer eligible for a match.
Q: If we have questions about the new online process, how do we reach you?
A: We request that all communications be on-line. If you have a question as you're verifying the gift on-line, click the "Need Support" link, and you will receive a response within 48 hours (excluding weekends and holidays).
Q: Will 3M honor paper matching gift forms?
A: As of February 28, 2003, paper forms will no longer be honored. They will be returned to the donors with instructions to go online and enter the gift or the match will not be made.
Q: What do we do with the paper matching gift forms?
A: Please do not forward matching gift forms to 3M; please return the form to the donor with this suggested letter.
Q: Do we need to send a receipt for the matching 3M funds?
A: No. Your online verification of the donor's gift is sufficient.
Q: Is the password established for our organization unique to our organization?
A: No. The password is tied to the individual who will verify the gift is received. If you have more than one individual verifying donations, each individual will have his/her own password.
Q: What happens if the individual who coordinates our matching gift program changes assignments?
A: This is not a problem. The new coordinator will create a new password for him/herself, log into the system and simply update the contact information for your organization.
Q: What do we do if the donor doesn't send the coupon with the Gift ID number?
A: Please contact the donor and ask them to send the coupon to you. Remind them to include the coupon with future gifts.
Q: Can my organization apply for a grant directly from the 3M Foundation through this online site?
A: No. 3M's online site is limited to 3M employees and retirees.
Q: Why are all gifts to our university directed to the foundation?
A: As in the past, all matching funds are paid directly to the university foundation. If 3M donors designate their funds for a department or other program that meets program guidelines, it is the responsibility of the university to ensure the matching funds follow the gift.
Q: How should my organization handle gifts of stock?
A: 3M donors are encouraged to work with their stockbrokers and gift recipients to coordinate the transfer process. The 3M Foundation will match the actual value received by your organization. This amount may differ from what the donor entered into the on-line application. For instance, if a donor gave 10 shares of a stock that was worth $120 per share at the time he/she entered the gift and the stock fell to $100 per share at the time the organization verified the gift, then the amount matched would only be $1,000 (instead of $1,200).
Q: How should my organization handle quid pro quo or gifts that included goods or services received?
A: The 3M Foundation match is on the tax-deductible portion of the donation. Four fields are required at the time of gift verification: amount received, date received, tax-deductible portion and quid pro quo amount. For instance, if a donor gave $100 and received a $20 tee-shirt from the organization in return, the organization would verify:
Amount Received: $100
Date Received: 1/1/04
Deductible Amount: $80
Quid Pro Quo Amount: $20
Q: Will 3M continue to provide the double match when both spouses are eligible donors?
A: Yes. Both donors should enter the gift in their Matching Gift Accounts on-line, print two coupons, and send both with their gift to your organization. You will need to verify both gifts.
Q: What happens if we don't go on-line to verify that the gift was received?
A: The gift will not be matched.
Q: What if the amount the donor entered for the gift and the actual gift vary?
A: If the amount entered by the donor is different from what your organization actually received, only enter the actual amount received in the field provided. For instance, if a donor put $50 in the Gift Amount field, yet your organization only received a check for $30, enter $30 in the Amount Received field.
Q: How often will gifts be matched?
A: 3M will match gifts approximately in March, September and November. Dates are subject to change, but a minimum of two matches will be made per year.
