Guidelines
A charity must be nominated by a U.S.-based CIBC World Markets client or employee to be considered for participation in Miracle Day*. Unsolicited letters of inquiry and proposals are not accepted. Nominated charities should not submit a proposal or supporting materials unless invited to do so by the Miracle Day project manager. We cannot acknowledge or return unsolicited materials.
* CIBC World Markets Corp. maintains a wholly owned subsidiary in Israel and is administering the CIBC World Markets Miracle Day program on that company’s behalf.
Nomination Guidelines
The organization must meet the following requirements:
- Hold a current IRS Determination Letter indicating tax exemption pursuant to section 501(c)(3) of the U.S. Internal Revenue Code
- Have as one of its principal missions improving the health, education or welfare of children who are underserved, at-risk or in need
- Utilize donated funds in the United
States or Israel. CIBC World Markets Corp. maintains a wholly
owned subsidiary in Israel and is administering the CIBC World
Markets Miracle Day program on that company’s behalf.
The following types of organizations or purposes are ineligible:
- Individuals, political, religious or advocacy groups
- Colleges and universities
- Schools, camps, and community centers, with the exception of those whose primary purpose is to serve children with special needs
- Scholarship funds with multi-year commitments
- Federations or umbrella organizations who redistribute funds in their own name
- Multi-year commitments
- Conferences, golf tournaments, and
advertising ventures
Donation And Distribution Guidelines
Limit On Client-Directed Donations And Allocations
On Miracle Day 2007, clients are limited to
up to a maximum $75,000 in commissions/fees they generate on Miracle Day and a minimum order size of 100,000 shares. Clients may allocate 50% of the commission amount, not to exceed $37,500, to approved charities of their choice according to the commission ranges outlined below. The remaining commissions will be directed to the general pool of funds.
You may allocate 50% of the commission amount, not to exceed $37,500, to the number of charities according to the following commission ranges:
| Commissions | Charity Allocations |
| <$10,000 | 1 |
| <$25,000 | 2 |
| >$25,000 | 3+ |
To illustrate this new charity allocation limit, if you generate $20,000 in net commissions on Miracle Day, $10,000 (50%) may be directed to a maximum of two charities on the Miracle Day Charity List. The remainder will be directed to the general pool and allocated to Miracle Day charities at CIBC World Markets’ sole discretion.
General Pool Of Miracle Day Charities
As in prior years, CIBC World Markets invites employees to nominate charities for consideration. Employees are allowed to nominate one charity to which they have served as a volunteer or board member, and/or made a financial contribution. The employee-nominated charities undergo the same review process as those nominated by our clients.
If an employee-nominated charity does not receive client designations, the charity will receive a donation from the general pool. The general pool consists of net commissions that exceed the 50% client allocation limit as well as any commissions not specifically designated to an approved charity. The allocation of the general pool will be tiered, based on a variety of factors at CIBC World Markets’ sole discretion.
For Miracle Day inquiries, please contact us via email at MiracleDayUSA@us.cibc.com or via phone at 212-667-7160.