A number of executives at Saturna Capital donated their holiday bonuses to charities, the second year in a row they did so.
The fund company gave employees two choices. They could either receive a year-end bonus and direct a dollar-for-dollar matching donation to a non-profit organization of their choice or decline their bonus altogether, in which case Saturna would increase its value by 3.5 times to a charity of their choice.
Overwhelmingly, 50% chose the latter option, resulting in a combined total of employee-directed gifts to 38 charities of $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, president and chief executive officer of Saturna. Noting that the company’s assets under management more than doubled last year to $2.5 billion, Carten added: “We experienced unprecedented success in 2009, so it makes sense to share our good fortune within the local community and beyond.”
Recipients included: The Warren Miller Freedom Foundation ($10,000), St. Paul’s Academy ($7,000), Bellingham Food Bank ($5,500) and UPLIFT Charity ($4,500).
Saturna has also produced and posted a video of the impact of last year’s donations at its website.