Hilcorp Energy, a Houston-based oil and gas company, has announced it is giving each of its employees a $25,000 philanthropic bonus to award to causes and nonprofit organizations of their choice, the Alaska Journal of Commerce reports.

Hilcorp will provide nearly $50 million to its employees — the majority of whom live in Alaska — to give to nonprofits. In early 2020, the Alaska Community Foundation began administering Hilcorp’s giving program as the company sought regulatory approval of its $5.6 billion buyout of BP in Alaska. Through the program, the company provides each new employee an individual giving account seeded with $2,500, then matches all employee contributions up to $2,000 per year. Following a screening by ACF, any nonprofit deemed legitimate by the Internal Revenue Service is eligible to receive a gift through the program. The $25,000 bonus will be added to those accounts.

“For a lot of the nonprofits who are really stretching to offer more services and more help for their communities right now, $2,500 or $1,000 goes a long way,” said Alaska Community Foundation CEO Nina Kemppel. “It’s really inspiring to see the thought that goes behind a lot of the gifts. It’s changing the way philanthropy is done in Alaska.”

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