Intuit Foundation

Intuit also administers a Super PAC, the Intuit 21^st Century Leadership Fund PAC, and the Intuit Financial Freedom Foundation that is focused on donating tax filing software and other financial planning resources. ^{3 4}

Founding and History

The Intuit Foundation received tax-exempt status in 2002. In 2004 the foundation matched employee charitable donations up to $1,000 per year for eligible charities. Eligible charities did not include faith-based organizations that discriminated in services; schools that promoted a specific religious viewpoint; or political, fraternal, and labor organizations. ⁵ As of 2021, the foundation matches employee donations up to $5,000 per person per fiscal year. Information regarding eligible charities is not publicly available. ⁶

Finances

In the fiscal year ending on July 31, 2020, the Intuit Foundation derived $4,145,809 from contributions and grants . The foundation had $3,3709,379 in expenses, of which $3,401,706 was paid out in grants and contributions. At the end of the fiscal year the foundation had $943,354 in assets, all of which were held in cash. ¹

Issue Areas

The Intuit Foundation does not have an issue area portfolio or accept grant solicitations. The sole direct recipient of funding is the American Online Giving Foundation, a donor-advised fund. This funding matches employee charitable donations, so employees of Intuit determine where the funding ultimately goes. ⁷

As of guidelines published in 2004, the foundation will not match contributions to schools if they promote a specific religious viewpoint; any religious organization that discriminates in the delivery of social services; or political, fraternal, or labor organizations. ⁵

Partners

The Foundation does not directly contribute to any charitable organizations. Rather, donations are made to the American Online Giving Foundation, a charitable giving aggregations service that specializes in creating donor-advised funds for large corporations and their employees. ⁸

Leadership

Laure Fennel is the president of the Intuit Foundation. She has been employed at Intuit for many years, including a 14-year stint as general counsel. In 2018 she became the chief people and places officer. ⁹

Fennel has contributed to a number of Democratic campaigns and PACs, including $500 to Friends for Harry Reid, $3,000 to Gillibrand for Senate, and 1,000 each to the Obama Victory Fund 2012 and Obama for America. However, in 2011 she did contribute $1,500 to Boehner for Speaker and an additional $1,500 to Friends of John Boehner, committees supporting Republican Rep. John Boehner. Additionally, Fennel has contributed $17,500 to Intuit’s political fund, the Intuit 21^st Century Leadership PAC, over a period of several years. ¹⁰ This PAC has more or less evenly split its contributions between Democrats and Republicans over the last few cycles. ¹¹