Beneficiary Organization - Cost Center field

Summary

When creating a beneficiary organization, the cost center field is required. What is this field used for?

Content

I have a client who needs over 100 beneficiary organizations allocated percentages. First I have to add them to the system. Unfortunately there is no way to load them that I see. So I am adding manually - unless someone knows a way to load?

Furthermore, when i add them manually, the page asks for a cost center, and the field is required. What is this field used for? Seems strange to have a cost center since it is an employee's beneficiary organization.