Honeywell Political Action Committee (HIPAC)

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Presentation transcript:

Honeywell Political Action Committee (HIPAC) Overview

What is a PAC and Why Have One? PAC = Political Action Committee. A PAC is run by its board, which are employees of Honeywell Allows Honeywell employees to collectively contribute to candidates that support common Honeywell causes. Most major corporations have PACs. It is a competitive differentiator that helps Honeywell promote its priorities in DC and the states. Top 10 Corporate PACs HIPAC is a tool that supports Honeywell growth.

How are HIPAC dollars collected and used? HIPAC solicits voluntary contributions from eligible Honeywell employees. Employee contributions are used for HIPAC’s campaign contributions to candidates for federal, state and local elected office. Under Federal Election Committee (FEC) regulations, HIPAC must report all receipts and expenditure contributions. Sign up online at https://www.honeywell.com/secure/easymatch/hipac

How does HIPAC decide how dollars are distributed? Proportional split in contributions to Democrats and Republicans. Give to candidates that: Share Honeywell’s concerns and philosophy Have significant employee populations, key customers and suppliers in their district/state Have key committee or leadership posts Primary focus is on incumbents, but will support challengers in some races. Achieve a high win rate for candidates supported by HIPAC. U.S. House and Senate Elections U.S. House – Average Winner: $1,253,031 U.S. Senate – Average Winner: $9,635,370 HIPAC gives employees the power to impact elections

Why is HIPAC important? Every day Congress makes decisions that affect Honeywell’s businesses. Here are some examples: Congress regulates chemicals that contribute to global warming. Congress regulates fuel efficiency standards. Congress funds major new weapons systems. Congress establishes new standards for airport security. Honeywell has technologies and solutions that can help solve public policy problems. Here are some examples: Fluorcarbon chemicals that release fewer global warming gases. Navigation technologies that make airplane flight safer. Turbocharger technology improves energy efficiency & performance. Fiber for ballistic material to protect soldiers & law enforcement officials. HIPAC gives us the opportunity to support candidates who understand our businesses and vote for policies that are conducive to our growth objectives.

What are the benefits of HIPAC? Building powerful business and political relationships Leveraging Honeywell business objectives Championing Honeywell customer needs Supporting state, local and federal candidates Charitable giving through Honeywell PAC Match ($1.9M to 1600 charities in 2008) Honeywell PAC Giving: 2008 Election Cycle

What is the “PAC Match” program? Your Honeywell PAC contribution is matched 100% to charities of your choice. You can select one or two eligible charities, which will receive DOLLAR for DOLLAR match. In 2008, $2.1 M was donated to over 1,600 different charities as a result of the PACMatch program. PAC-Match can be applied to school foundations*, the arts, faith-based charities… ANY 501(c)3 non-profit organization (your church, alma mater, child’s school, etc.). * Cannot be used to pay for school tuition. * Is not tax deductible. Consider using PACMatch as your charitable contribution.

Who may join HIPAC? There are federal & state laws that regulate the operation of PACs Laws dictate which employees are be eligible, maximum giving amounts, reporting requirements, etc Honeywell employees are eligible to join if: Bands 4-7 U.S. citizens or permanent residents If you are interested in learning more about the PAC, go to https://www.honeywell.com/secure/easymatch/hipac/

How You Can Get Involved? Fill out Honeywell PAC form if available, or visit the PAC website. After enrolling, you’ll have the option of selecting your PACMatch charitable organization. Questions? sean.ohollaren@honeywell.com menda.fife@honeywell.com sherry.woodahl@honeywell.com Benefits of Honeywell PAC Membership Charitable support through PAC Match Member-only receptions & events Current information from GR on the latest legislative developments. Broadening your political influence by supporting candidates that share your interests Honeywell PAC plays a critical role in promoting and protecting our business priorities in the public policy arena.

Contributions are voluntary but help Honeywell grow. Disclaimer Contributions to HIPAC are purely voluntary and will be used for political purposes. You have the right to refuse to contribute without reprisal. Contributions to HIPAC are not deductible for federal income tax purposes. You must be a U.S. citizen or have legal residence in the United States in order to give to HIPAC. Federal law requires PACs to report the name, mailing address, and name of the employer for each individual who contributes in excess of $200 per calendar year. Contributions are voluntary but help Honeywell grow.