Giving Back through A Standalone 501(c)(3) Entity to Support iQorians in Need
Loren Dennis is Senior Vice President of Operations at iQor in charge of special projects. One of Loren’s favorite projects he has spearheaded is iQor Qares. In this episode, he explains what it is and why iQor has invested significant resources into it.
One of iQor’s core values is “always giving back.” In the past, when iQor employees – aka iQorians – ran into emergencies, the company organized fundraisers through events to provide financial assistance to those in need across our global population of approximately 35,000 employees. While noble, these efforts were ad hoc and only moderately effective because it was not a unified effort under one entity.
The iQor senior leadership team (SLT) decided to create a standalone philanthropic organization called iQor Qares. It was formed in Q4 2019 as a 501(c)(3) non-profit with its own board of directors (BOD). Loren sits on the BOD along with members of iQor’s SLT to oversee the direction and execution of its mission, which is to be a financial resource to iQor employees and their local communities when unforeseen hardship occurs during times of natural disasters, such as floods, hurricanes, earthquakes, fires, and more.
Building the Philanthropy
In 2020, the primary focus of iQor Qares was to get the entity established in the U.S. This was a new venture for all involved. Creating the organization and getting approved in every state across the U.S. required a lot of coordination with government entities. The Board made headway across nine states, standing up the organization as a philanthropy ready to be of service to iQorians.
From a donation standpoint, the initial rollout of iQor Qares is in the U.S. to support any employee regardless of geographic location. iQor employees can set up donations to be made automatically from each paycheck. As is customary with a 501(c)(3), reporting is provided to the employee for tax deduction purposes. In 2021 donations began to be collected to help iQorians anywhere in the world.
Examples of iQorians Supported through iQor Qares
Loren explained that approved requests for support remain anonymous except between HR and the iQor Qares vetting committee. Beyond this group, identities are not revealed to protect their privacy.
In 2021, examples of recipients of support include an iQorian whose home caught fire, where much of the house was destroyed. iQor Qares provided support to aid with meals for the iQorian’s family while they dealt with the transition to temporary housing. iQor Qares also provided support to iQorians who were displaced by the horrific floods in Texas in mid-2021.
iQor Qares is also available to support employees and their families during times of loss. When iQor was made aware of a tragic death of our own, iQor Qares was quick to provide their family with funds to aid in funeral expenses. When an iQorian family member was battling cancer, they were met with high hospital bills that drained their finances. iQor Qares helped cover heating costs to keep their home warm during the winter months, so the employee could focus on their health and not stress about bills.
Small Donations from Many iQorians
As you can see by these examples, life circumstances can cause financial hardship. The vision of iQor Qares is for many people to give a small amount. Loren specifically says he’s not asking for large donations. If many people regularly donate a small amount from each paycheck, the coffers are well supplied, enabling us to respond to situations in times of need.
Looking to 2022
Loren and the BOD at iQor Qares are spreading the word and expanding into other countries in 2022. Hopefully, conditions will allow for an annual charity golf event. The power of volume with many small donations will make a difference in people’s lives. The easiest way to set up automatic contributions is to visit the website iqorqares.com to configure a steady donation from each paycheck.
How to Apply for Assistance from iQor Qares
iQor Qares is set up to provide financial aid to iQor employees who are experiencing temporary financial hardship. iQor employees in need of assistance should begin by contacting their local HR representative. This individual will have a confidential conversation with the iQorian and assist with the application process at iqorqares.com.
How to Donate to iQor Qares
iQor employees can easily set up a donation commitment. It’s simple and safe.
iQor employees can donate here at iqorqares.com.
Anyone outside of iQor is welcome to make a one-time donation (or as often as they want)!
People outside of iQor can donate on this website.
What Loren Does for Fun When He’s Not Working
For Loren, it’s all about family. Whether it’s watching a movie, having a family game night, or spending time outdoors, he cherishes each moment with his family.
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