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Saturna Capital Employees Direct Year-End Bonuses To Charities
The company's 2010 holiday-related charitable giving program helps leverage donations for greater impact
Bellingham, WA (December 23, 2010) — The employee-directed Charitable Giving Program developed by Saturna Capital Corporation, investment adviser to the Amana, Sextant and Idaho Tax-Exempt Funds, distributed $107,000 to 37 non-profit organizations in 2010 holiday-related donations. Since 2008, the company employees have directed a total of $284,000 in donations, which included year-end bonuses relinquished by half of the company's employees in order to take advantage of the higher-impact donation structure designed by Saturna.
Uniquely structured, Saturna's 2010 holiday donation program went beyond traditional matching contributions offered by many companies and allowed employees to leverage their holiday bonuses for greater impact. All 47 eligible employees were given the choice to direct a charitable donation equal to the amount of their holiday bonus to one non-profit organization. The employees who chose to forgo a bonus were able to increase their charitable contributions by three and half times.
"Many sectors of the economy have not rebounded from the recession, and non-profits are struggling to meet greater demand for services with limited resources," said Jane Carten, Saturna's President and CEO. "We like the idea of encouraging our employees to share responsibility in choosing the beneficiaries of our corporate donations, because it fosters the culture of giving we promote as part of our core values."
2010 contributions were directed to 37 non-profit organizations, the vast majority of which are based in Saturna's home town of Bellingham and Whatcom County. Organizations receiving the largest donations include: St. Paul's Academy ($7,000), the Bellingham Food Bank ($5,500), Make.Shift ($4,500), Mt. Baker Scout Foundation ($4,500), Peaceful Communications ($4,500), and UPLIFT Charity ($4,500). Other top recipients include Womencare Shelter, the Beth Israel Building Fund, Brigid Collins Support Center, Casa Peregrinos, Helpline House of Bainbridge Island, Interfaith Coalition, The Lighthouse Mission, Mt. Baker Planned Parenthood, NAMI Whatcom County, North Cascades Conservation Council, Regent College Foundation, Bellingham Yacht Club's Sink the Dinghy Program, Slum Doctor Programme, Whatcom County Pregnancy Clinic, Whatcom Hospice Foundation, Whatcom Volunteer Center, and the WWU Foundation (Carten Family Scholarship).
About Saturna Capital
Values-Based Global Equity Managers
Saturna Capital, established in 1989 in Bellingham, WA, is the investment adviser and administrator to over $3.2 billion in assets in the Amana Mutual Funds Trust (which includes Amana Growth Fund and Amana Income 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. Saturna Sdn. Bhd. is an investment adviser and research firm in Kuala Lumpur, Malaysia.
