Saturna Employees Choose To Make a Difference by Donating Bonuses
Jane Carten MBA
President and CEO
Bellingham, WA (December 31, 2009) — Would you trade your holiday bonus for the chance to increase your impact on the community? Employees at Saturna Capital have done just that. For the second year in a row many of them have forgone their end-of-year bonus, making sizeable donations to charity instead.
Employees were presented with a choice: They could receive a year-end bonus and direct a dollar-for-dollar matching donation to the qualifying non-profit organization of their choice, or they could decline their bonus altogether and allow Saturna to make charitable donation of three and a half times the size on their behalf. This year, through the company's Charitable Giving Program, nearly 50% of eligible employees chose the latter, boosting the combined total of employee-directed gifts to $100,500, a 30% increase over last year.
"I am heartened by the generosity of our employees whose spirit of philanthropy continues to exceed expectations," said Jane Carten, Saturna's President and Director, "We experienced unprecedented success in 2009, so it makes perfect sense to share our good fortune within the local community and beyond." Saturna's assets under management increased by over 100% between November 2008 and November 2009.
Contributions were directed to 38 non-profit organizations, the vast majority of which are based in Bellingham and Whatcom County. Organizations receiving the largest donations include: The Warren Miller Freedom Foundation ($10,000), St. Paul's Academy ($7,000), Bellingham Food Bank ($5,500), and UPLIFT Charity ($4,500). Other top recipients include the Beth Israel Building Fund, Brigid Collins Support Center, Evergreen Aids Foundation, The Experiment in International Living, Helpline House of Bainbridge Island, Hope House/Assumption Church, The Idiom Theater, Millennium RDS, Bellingham Yacht Club's Sink the Dinghy Program, Slum Doctor Programme, Sterling Donor Advised Fund, The INN University Ministries, Whatcom Middle School PTSA, and the WWU Foundation (Carten Family Scholarship).
About Saturna Capital
Saturna Capital Corporation, established in 1989 in Bellingham, WA, is the investment adviser and administrator to over $2.5 billion in assets in the Amana Mutual Funds Trust (which includes Amana Growth Fund, Amana Income Fund, and Amana Developing World Fund) and the Saturna Investment Trust. Saturna Investment Trust consists of six funds: Sextant Growth (domestic equities), Sextant International, (foreign stocks), Sextant Core (bonds and equities), Sextant Bond Income (long-term bonds), Sextant Short-Term Bond, and the Idaho Tax-Exempt Fund.
Saturna Capital also manages private accounts for families, businesses and endowments. Saturna Brokerage Services provides general discount brokerage services and underwrites the Saturna mutual funds. Saturna Trust Company, headquartered in Reno, NV, provides trust services to families, charities, trusts, estates and retirement plans, specializing in the administration of Islamic trust services.