The ALATEC Corporate Care Fund, administered by the Community Foundation of Huntsville/Madison County, is a special charitable fund which allows employees of ALATEC to apply for grants during periods of extreme financial hardship brought on by natural disaster, death, serious or life-threatening illness or injury, or other crisis. This new fund allows tax-deductible donations to be made by the Company or its employees to create funds available to ALATEC employees who suffer an unexpected tragedy.
“The ALATEC Corporate Care Fund allows our Company and team members to help take care of our own when they need help the most” said Donna Faulkner, Executive Vice President of ALATEC. “By making use of this specialized fund administered by the Community Foundation, we are able to make tax-deductible contributions to a fund to help our employees, and they can receive much-needed financial assistance without incurring a tax liability on the assistance received.”
ALATEC employees who have been impacted by one of the eligible incidents can apply directly to the Community Foundation for assistance. An independent committee reviews the grant applications and makes awards based on the criteria defined by the Company when the fund was created.
“The Corporate Care Fund allows the company to create this financial safety-net for their staff in the event of a tragedy, and remain totally independent of the grant-making process. This is important for ensuring anonymity, preventing favoritism and also avoids hard feelings towards the Company if a grant request from a particular individual is denied,” stated Stuart Obermann, President/CEO of the Community Foundation. “ALATEC is one of only two employers in Madison County who have implemented this progressive program for the benefit of their employees.”
About ALATEC, Inc.
ALATEC, Inc. is a Service Disabled Veteran Owned Small Business and also an Employee Stock Ownership Plan (ESOP) company founded in 2001 and primarily focused on Federal Government service contracts.
About the Community Foundation of Huntsville/Madison County
Our Mission: The Community Foundation of Huntsville/Madison County serves as the trustee of our community’s future, fostering philanthropy and mobilizing partners, while striving for an exceptional quality of life both today and tomorrow.
Since our founding in 2009, the Community Foundation has raised or managed over $13,000,000 for charitable causes and has distributed, on behalf of our donors, over $3,000,000 to local, regional, and national nonprofit organizations.
For more information about the Community Foundation, the Corporate Care Fund or other corporate giving programs available, contact Stuart Obermann at 256.535.2065 or stuart@communityfoundationhsv.org.
