Volunteer

Matching Incentive Program (MIP) for Verizon Retirees

The Verizon Matching Incentive Program provides an opportunity for all eligible retirees to have their contributions, up to $5,000 per year, to accredited US colleges and universities matched 1:1 by the Verizon Foundation.

Here are some frequently asked questions about the Verizon Foundation Matching Incentive Program:

What types of non-profit organizations can eligible retirees have their donations matched by the Verizon Foundation?
Eligible retirees can have their donations up to $5,000 per year to accredited US colleges or universities matched 1:1 by the Verizon Foundation through the Matching Incentive Program.
What types of monetary donations can be matched by the Verizon Foundation?
In order to be eligible for a MIP match, retiree donations must be in the form of a personal tax-deductible contribution of $25 or more from the retiree's own assets, paid directly to the eligible 501(c)(3) organization or NCES institution. Donations must be current contributions from the retiree's own assets, and must be made, not merely pledged. A matching gift cannot be used to satisfy a personal pledge (e.g. a pledge of $2,000 cannot be satisfied by $1,000 from the retiree and $1,000 from the Foundation match). Donations can be in the form of one of the following:
  • personal check
  • money order
  • credit card payment
  • transfer of stock certificate
The Foundation will not match donations of real estate, in-kind services, materials or supplies. Contributions, or portions thereof, that are not tax deductible will also not be matched. Retirees must maintain an accurate record (e.g. canceled check, credit card statement) of their contributions including the date, amount and method of payment for three years from the date of the donation.
No, Verizon Foundation does not fund private foundations - only tax exempt IRS qualified 501(c)(3) public charities.
Is the Verizon Foundation permitted to enter/register Matching Gift requests on behalf of an employee/retiree?
No. The policy and compliance rules that govern the Verizon Volunteers Matching Gifts and Volunteer Incentive Program prohibit the Verizon Foundation from registering a donation on behalf of an employee/retiree. Eligible employees and eligible retirees must register their gift online at http://foundation.verizon.com/donor. Employees/Retirees can contact the Verizon Foundation Customer Service Center at 1-866-247-2687 from 8:00AM to 8:00PM Eastern Time Monday through Friday- this staff answer questions about registration – but are not permitted to enter any donation.
Can donations to an eligible nonprofit organization be matched by the Foundation, when the retiree or someone with whom they share a close personal relationship receives direct or indirect financial compensation from the organization?
No. Only personal gifts made by eligible retirees are eligible to be matched by the Foundation.
If I collected donations from family members and friends, or through a fundraiser, such as a bake sale, or by setting up a collection box to help raise money for a particular accredited US college or university, will this money be matched by the Foundation through the Matching Incentive Program?
No. Only personal donations made by eligible retirees are eligible to be matched by the Foundation. Donations must be current contributions from the retiree's own assets, and must be made, not merely pledged. A matching gift cannot be used to satisfy a personal pledge (e.g. a pledge of $2,000 cannot be satisfied by $1,000 from the retiree and $1,000 from the Foundation match).
If I am an eligible retiree, why doesn't the Foundation website allow me to input a Matching Incentive Program gift?
Because the Foundation is 100% Web-based, it relies on an electronic file feed from Human Resources. In some instances, retiree data is incomplete, causing the system to reject a retiree's Matching Incentive Program request. Affected retirees should contact the Verizon Foundation's Customer Service Center at 1-866-247-2687 from 8:00AM to 8:00PM Eastern Time Monday through Friday and provide the representative with their name, former company name and social security number. The Foundation will investigate and verify the retiree's eligibility with Verizon Human Resources. Verizon Wireless and MCI retirees are not eligible to participate.
Can I transfer Verizon stock over to an eligible 501(c)(3) nonprofit and have it matched by the Verizon Foundation through the Matching Incentive Program? If so, what date would apply to my gift of stock to the nonprofit?
Yes. Since the value of securities is determined based on the market value on the actual date of the contribution, the date that the nonprofit received the stock would be the date of your gift. Securities must have a publicly listed market value.
Does the Verizon Foundation match retiree donations to qualified nonprofits through Donor Advised Funds?
As of January, 2008, donations made by eligible retirees to qualified nonprofits through Individual or Family Donor Advised Funds qualify for matching gifts (MIP) from the Verizon Foundation.
How does the nonprofit verify receipt of my gift/donation?
You should direct the nonprofit to verify receipt of your gift/donation online at http://foundation.verizon.com/nonprofit/mip. If the organization needs assistance navigating through the verification process, they may contact the Verizon Volunteers Program Support Center via email at vznmail@cybergrants.com or by calling (866)247-2687 between 8:00AM and 8:00PM ET. Note: Retirees should ensure that someone at the nonprofit, other than themselves or someone with whom they share a close personal relationship, confirm receipt of their gift/donation.
Can I register membership dues, fees paid or monies for which I receive a benefit/gift for matching?
No, you are not permitted to request a MIP grant on behalf of organizations where you or an immediate member of your family receive any direct or indirect commercial or financial benefit as a result of your donation (including memberships, tickets, tuition, etc.)
Can I use the matching gift to subsidize a personal pledge or fee?
No, the matching gift cannot be used to satisfy a personal pledge (e.g. a pledge of $2,000 cannot be satisfied by $1,000 from the employee and $1,000 from the Foundation match).

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