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PotashCorp supports charitable causes through corporate grants, matching contributions and in-kind donations. A donations committee reviews requests for financial assistance and determines recipients.
- Corporate grants totaled $2.1 million in 2006. Multi-year pledges, mainly to universities, make up a major part of this total. Corporate grants declined from 2005 when the company made major commitments to disaster relief efforts related to the Asian tsunami and Hurricane Katrina.
- The company's contributions under the matching gift program totaled $459,000. United Way organizations in Canada, the US and Trinidad were major beneficiaries.
- Company employees contributed $459,000 to charitable organizations under the matching gift program and through their sites' United Way campaigns.
PotashCorp and its employees support their communities through company-sponsored volunteerism and non-cash donations of goods and services. This totaled $567,838 in 2006.
| Community Donations by Sector |
| |
2004 |
2005 |
2006 |
| |
Corporate Grants |
Corporate Grants |
Corporate Grants |
| Education |
$ |
99,244 |
$ |
104,884 |
$ |
176,426 |
| Arts/Culture |
$ |
31,177 |
$ |
63,574 |
$ |
38,322 |
| Health care |
$ |
18,904 |
$ |
58,925 |
$ |
36,563 |
| Charities |
$ |
59,463 |
$ |
27,647 |
$ |
34,855 |
| Conferences |
$ |
-- |
$ |
15,059 |
$ |
9,563 |
| Sports |
$ |
57,864 |
$ |
45,976 |
$ |
46,277 |
| Local community |
$ |
135,151 |
$ |
119,219 |
$ |
162,282 |
| Tickets |
$ |
-- |
$ |
14,418 |
$ |
6,080 |
| Industry-related |
$ |
66,845 |
$ |
65,141 |
$ |
39,989 |
| Multi-year pledges |
$ |
1,225,314 |
$ |
2,253,901 |
$ |
1,521,846 |
| Total - corporate grants |
$ |
1,693,962 |
$ |
2,768,744 |
$ |
2,072,203 |
| |
| |
Matching Gifts |
Matching Gifts |
Matching Gifts |
| Education |
$ |
35,694 |
$ |
29,512 |
$ |
45,677 |
| Arts/Culture |
$ |
5,277 |
$ |
5,417 |
$ |
9,356 |
| Charities |
$ |
59,903 |
$ |
73,957 |
$ |
110,926 |
| Local community |
$ |
47,947 |
$ |
74,064 |
$ |
68,782 |
| United Way |
$ |
293,696 |
$ |
180,879 |
$ |
224,465 |
| Disaster relief |
$ |
-- |
$ |
109,622 |
$ |
-- |
| Total - matching gifts |
$ |
442,517 |
$ |
473,451 |
$ |
459,206 |
| |
| |
In-Kind Donations |
In-Kind Donations |
In-Kind Donations |
| Total – in-kind donations |
$ |
1,300,000 |
$ |
757,000 |
$ |
567,838 |
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Matching Gift Program
The PotashCorp matching gift program is a powerful way for employees to direct corporate donation dollars to the charitable causes they consider most important to their communities. The company matches employees' eligible donations dollar for dollar.
Recent improvements to the program include reduction of the minimum gift that PotashCorp will match from $50 to $25 and raising the maximum that the company will match from $3,000 to $5,000 per employee per year.
Scholarships
PotashCorp provides college scholarships for selected children of employees at all locations. In 2006, it awarded 39 scholarships totaling $63,000. This included 27 one-time $1,000 divisional scholarships and 12 corporate awards worth $3,000 annually for four years.
All scholarship winners receive the same divisional or corporate monetary award, regardless of country of residence.
| PotashCorp Scholarships Awarded |
| |
2005 |
2006 |
| |
Number of Scholarships |
Value |
Number of Scholarships |
Value |
| Divisional scholarships |
28 |
$ |
28,000 |
27 |
$ |
27,000 |
| Corporate awards |
12 |
$ |
36,000 |
12 |
$ |
36,000 |
| Total |
40 |
$ |
64,000 |
39 |
$ |
63,000 |
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