GreatAmerica Financial Services launched a new philanthropic fund directed by its employees. The new employee advised fund is in addition to the GreatAmerica Donor Advised Fund established in 2001. The funds are expected to provide more than $1 million to projects in Cedar Rapids, IA, and Iowa City, IA, each year. Both funds will be managed by the Greater Cedar Rapids Community Foundation.

“The employee advised fund will bring increased awareness of the non-profit community to GreatAmericans who wish to learn more about and participate in community betterment efforts,” Martin Golobic, co-chief executive officer at GreatAmerica, said. “It’s also an opportunity to understand their perspectives based on their personal beliefs, values and experiences.”

The employee advised fund will focus on four areas: health and human services; arts and culture; environment; and public projects. Non-profit organizations will be able to apply to the fund and the fund is expected to increase its giving amounts as profitability increases.

Non-profits applying for funding must have a connection with a GreatAmerica employee and be a registered 501(c)(3) organization among other eligibility requirements. Applications for the first funding cycle will be accepted online between Oct. 20 and Dec. 2, 2022.