Governance & Oversight

R&P Giving Committee | Governance and Oversight

The success of Rosenberg & Parker’s charitable giving program relies on strong governance structures. The following bodies and roles are responsible for oversight:

Charitable Giving Committee: A cross-functional team of employees and leadership will form the Charitable Giving Committee. This committee is responsible for:

• Reviewing and approving all charitable donations above $5,000.
• Ensuring donations align with the company’s strategy and values.
  
• Evaluating and selecting charitable partners based on their alignment with the company’s goals.

R&P Cares: Composed of employee representatives, this committee will:

• Provide recommendations for charities and causes that resonate with R&P employees.
• Review and approve all charitable donations up to $5,000.
• Help organize and promote volunteer events and employee-driven initiatives.
• Act as a liaison between the employee base and the Charitable Giving Committee.

Accounting Department: Responsible for tracking and processing donations, ensuring compliance with all legal, tax, and financial regulations.

Policies and Procedures

Funding & Distributions:

• Rosenberg & Parker will allocate an amount as determined by the partnership at the beginning of each year for charitable giving.
• By June 30 of each year, R&P will place 75% of the above amount in the R&P Fidelity Charitable Trust Account.
• The remaining 25% will be available for small donations, emergency donations, matching funds, and expenses related to charitable giving (event entrance fees, t-shirts, meals, etc).
• No more than 75% of the funds in the R&P Charitable Trust Account will be distributed each year, which will allow for the charitable fund to grow in perpetuity.

Application Process for Charitable Contributions:

• Charities seeking donations or sponsorships must submit a formal application through the Rosenberg & Parker website.
• Applications must include proof of non-profit status, a description of the project or event, and how the donation will be used.
• All applications will be reviewed quarterly by the Charitable Giving Committee.
• Emergency requests may be reviewed on an ad hoc basis.
  • Internal Applications (Employee Recommendations):
• Employees may recommend charities by filling out an internal form.
• The R&P Cares will review the recommendations and either approve or present to the Charitable Giving Committee for final approval.

Approval Process:

• Committee chairs and department heads can approve donations up to $1,000.
• R&P Cares Committee will review applications up to $5,000, and up to $75,000 in the aggregate per year.
• The Charitable Giving Committee will review applications over $5,000.
• Donations will be processed only after the Accounting Department has confirmed that the organization meets all eligibility criteria.
• Grants or sponsorships that exceed $25,000 or that are tied to multi-year commitments require approval from the Partners.

Employee Volunteerism:

• Rosenberg & Parker encourages employees to volunteer through the Volunteer Time Off (VTO) policy, providing up to 15 hours of paid time annually per employee for approved volunteer work.
• R&P Cares will organize volunteer events, which employees can attend as part of their VTO.

Matching Gifts Program:

• Rosenberg & Parker will match employee donations up to $1,000 annually to any approved 501(c)(3) non-profit.
• Employees must notify R&P Cares committee of intent to donate prior to June 30 so that the committee can allocate the necessary funds. Exception will be made on a case by case basis by the R&P Cares Committee.
• Employees must submit proof of their donation through the internal charitable giving portal to receive matching funds.

Reporting and Accountability:

• All charitable contributions will be documented and reported in the company’s annual Corporate Social Responsibility (CSR) report.
• Organizations receiving significant contributions may be asked to provide follow-up reports detailing how the funds were utilized and the outcomes achieved.
• An annual celebratory event will be held for the entire company by the R&P Cares Committee to review the funds donated, employee volunteer hours contributed, and organizations that benefited from donations.

Compliance and Legal Considerations

• Rosenberg & Parker’s charitable giving program will comply with all local, state, and federal laws regarding charitable donations.
• Due diligence will be performed on all potential recipients to ensure that no funds are misused or allocated to inappropriate organizations.
• The company will not provide donations to political campaigns, organizations that promote violence or discrimination, or organizations not in compliance with regulatory standards.
• In the event that Rosenberg & Parker is sold or ceases to exist, a board will be created to oversee distribution of remaining funds.

Evaluation and Continuous Improvement

To ensure our charitable giving remains effective and impactful:

• Annual Review: The Charitable Giving Committee will conduct an annual review of the giving strategy, adjusting focus areas and budgets as necessary.
• Feedback Mechanisms: Solicit feedback from charitable partners and employees to assess the effectiveness of our giving programs.
• Impact Reports: Review impact reports from recipient organizations to evaluate the outcomes of major donations and ensure alignment with expected goals.

Conclusion

This plan is designed to provide clear direction on how to engage in charitable giving while building positive relationships with community organizations and maintaining alignment with corporate objectives.

The plan is also designed to allow the charitable giving fund to grow over time so that eventually funds will be available in perpetuity, even in the event that Rosenberg & Parker is no longer independent or in existence.