Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

United Way is a nonprofit organization working with nearly 1,300 local chapters that raise resources and mobilize care units for communities in need. With over

United Way is a nonprofit organization working with nearly 1,300 local chapters that raise resources and mobilize care units for communities in need. With over $4 billion of annual revenue, United Way continues its status as one of the nations largest charities. A substantial portion of those funds was raised through annual campaigns and corporate sponsorships. Alaina has been asked to coordinate her companys United Way fund drive. Because she has seen some of the projects United Way has supported in her own community, Alaina is excited to help her company try to reach its goal of raising $100,000 this year. Alaina will be distributing pledge cards to each of the companys employees to request donations. There are 150 people working on the first shift, 75 people working on the second shift, and a crew of 25 people working on the third shift. Questions 1) If each person were to make a one-time donation, how much would each person need to donate for the company to reach its goal of raising $100,000

2) Alaina feels that very few people can contribute this amount in one lump sum, so she is offering to divide this amount over 10 months. If the employees agree to this arrangement, how much will be deducted from each persons monthly paycheck

3) Two weeks have passed, and Alaina has collected the pledge cards from each of the employees with the following results: First Shift: 100 employees agreed to have $40 a month deducted for 10 months; 25 employees agreed to make a onetime contribution of $100; 15 employees agreed to make a one-time contribution of $50. The remaining employees agreed to have $20 per month withheld for the next 10 months. Second Shift: 25 people agreed to a one-time contribution of $150; 25 people agreed to have $40 a month deducted for 10 months; and the remaining employees agreed to a one-time contribution that averaged about $35 each. Third Shift: All 25 people agreed to double the $40 contribution and have it deducted over the next 10 months. How much was pledged or contributed on each shift?

First Shift:

Second Shift:

Third Shift:

How much has Alaina raised?

5) Did she meet the $100,000 goal? If not, how much is she short?

6) If Alainas company were to match the employees contributions with $2 for every $1 the employees contributed, how much would the company contribute?

7) What would be the total contribution to United Way

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Tracking Your Trek Looking Backward To Determine Your Forward

Authors: Erica Pauly

1st Edition

979-8839157330

More Books

Students also viewed these Accounting questions