PotashCorp supports charitable causes through corporate grants, matching contributions and in-kind donations. A donations committee reviews requests for financial assistance and determines recipients.
- Grants from the corporate office totaled $2.0 million in 2007. Multi-year pledges, mainly to universities and hospitals, make up 74 percent of this total.
- Grants from the plant sites totaled $0.6 million in 2007.
- The company's contributions under the matching gift program totaled $0.7 million. United Way organizations in Canada, the US and Trinidad were major beneficiaries.
- Company employees contributed $0.7 million 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 $0.3 million in 2007.
In 2008, the Donations Committee set a target to donate 1% of average net income over the prior five years. Even though this is a future target, the company's performance against this target is given in the table below.
Community Donations by Sector |
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| ($) | 2004 | 2005 | 2006 | 2007 |
| Corporate Grants | Corporate Grants | Corporate Grants | Corporate Grants | |
| Education | 99,244 | 104,884 | 176,426 | 169,379 |
| Arts/Culture | 31,177 | 63,574 | 38,322 | 59,714 |
| Health Care | 18,904 | 58,925 | 36,563 | 13,601 |
| Charities | 59,463 | 27,647 | 34,855 | 42,077 |
| Conferences | 2,504 | 15,059 | 9,563 | 12,234 |
| Sports | 57,864 | 45,976 | 46,277 | 55,598 |
| Local Community | 138,428 | 121,719 | 162,182 | 103,341 |
| Tickets | 5,482 | 14,418 | 6,080 | 370 |
| Industry-Related | 66,845 | 65,141 | 39,989 | 28,669 |
| Major Commitments | 1,225,314 | 2,253,901 | 1,521,846 | |
| Education | 1,166,743 | |||
| Health Care | 292,569 | |||
| Local Community | 17,489 | |||
| Total - Corporate Grants | 1,705,225* | 2,771,244* | 2,072,103* | 1,961,784 |
| Plant Site Cash Grants | 581,086 | |||
| Subtotal | 1,705,225 | 2,771,244 | 2,072,103 | 2,542,870 |
| Matching Gifts | Matching Gifts | Matching Gifts | Matching Gifts | |
| Education | 35,694 | 29,512 | 45,677 | 60,857 |
| Arts/Culture | 5,277 | 5,417 | 9,356 | 13,313 |
| Charities | 59,903 | 73,957 | 110,926 | 150,290 |
| Local Community | 47,947 | 74,064 | 68,782 | 50,209 |
| United Way | 293,696 | 180,879 | 224,465 | 388,259 |
| Disaster Relief | -- | 109,622 | -- | -- |
| Total - Matching Gifts | 442,517 | 473,451 | 459,206 | 662,928 |
| In-Kind Donations | In-Kind Donations | In-Kind Donations | In-Kind Donations | |
| Corporate In-Kind | 69,126 | |||
| Plant-site In-Kind | 272,250 | |||
| Total – In-Kind Donations | 975,000 | 567,750 | 425,879 | 341,376 |
| Grand Total | 3,122,742 | 3,812,445 | 2,957,188 | 3,547,174 |
| Donations as % of Average Net Income for Prior 5 Years | 2.8 | 2.5 | 1.3 | 1.1 |
| *Plant site cash donations are included in this total Source: PotashCorp |
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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 the reduction of the minimum gift that PotashCorp will match from $50 to $25. In 2008, the company raised the maximum that it will match from $5,000 to $10,000 per employee per year. Additionally, PotashCorp has developed a matching gift template in partnership with the Saskatoon Foundation which other companies could use to develop their own matching gift programs.
Scholarships
PotashCorp provides college scholarships for selected children of employees at all locations. In 2007, it awarded 39 new scholarships totaling $63,000. This included 27 one-time $1,000 divisional scholarships and 12 corporate awards worth $3,000 annually for up to four years. The company awarded 36 scholarships between 2004 and 2006 which are being paid out. The total amount given in scholarships in 2007 was $171,000.
All scholarship winners receive the same divisional or corporate monetary award, regardless of country of residence.
| PotashCorp Scholarships Awarded | ||||||||||
| 2003 | 2004 | 2005 | 2006 | 2007 | ||||||
| # | Value | # | Value | # | Value | # | Value | # | Value | |
| 2007 New Divisional Scholarships |
31 | $31,000 | 28 | $28,000 | 28 | $28,000 | 27 | $27,000 | 27 | $27,000 |
| 2007 New Corporate Awards |
11 | $33,000 | 12 | $36,000 | 12 | $36,000 | 12 | $36,000 | 12 | $36,000 |
| Past Corporate Awards | 34 | $102,000 | 34 | $102,000 | 34 | $102,000 | 34 | $102,000 | 36 | $108,000 |
| Total | 76 | $166,000 | 70 | $162,000 | 74 | $166,000 | 73 | $165,000 | 75 | $171,000 |
