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Honeywell Political Action Committee (HIPAC). Overview. What is a PAC and Why Have One?. Top 10 Corporate PACs. PAC = Political Action Committee. A PAC is run by its board, which are employees of Honeywell - PowerPoint PPT Presentation
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Honeywell Political Action Committee (HIPAC)
Overview
2 Honeywell Confidential File Number- 2
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.
HIPAC is a tool that supports Honeywell growth.
Top 10 Corporate PACs
3 Honeywell Confidential File Number- 3
Sign up online at https://www.honeywell.com/secure/easymatch/hipac
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.
4 Honeywell Confidential File Number- 4
• 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.
How does HIPAC decide how dollars are distributed?
HIPAC gives employees the power to impact elections
U.S. House and Senate Elections
• U.S. House – Average Winner: $1,253,031
• U.S. Senate – Average Winner: $9,635,370
5 Honeywell Confidential File Number- 5
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.
6 Honeywell Confidential File Number- 6
What are the benefits of HIPAC?
House Spent in 2007/2008 Cycle
54%46% Ds - $1,273,500
Rs - $1,073,000
House Breakdown (110th Congress)
• 236 Democrats• 199 Republicans
Senate Breakdown (110th Congress)
• 49 Democrats• 49 Republicans• 2 Independents
Senate Spent in 2007/2008 Cycle
44%
56%
Ds - $249,500
Rs - $323,500
338 House candidates supportedin last election cycle: 95% win rate
34 Senate candidates supportedin last election cycle: 91% win rate
Honeywell PAC Giving: 2008 Election Cycle
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)
BenefitsBenefits
7 Honeywell Confidential File Number- 7
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.
8 Honeywell Confidential File Number- 8
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/
9 Honeywell Confidential File Number- 9
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?- [email protected]
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.
10 Honeywell Confidential File Number- 10
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.