Apply effects to extend beyond mask?

When applying effects to images or video with transparent parts, how can I extend the effect into the transparent area?

For example, I want to add a glow to a logo which I have layered on top of my background video track in the edit tab. But the glow is constrained to the alpha matte (ie: the logo itself), so I cannot achieve the desired effect.

Is there a way for the glow to extend beyond the matte using the tools on the edit or color tabs, or do I have to make a fusion comp for this?

+1 to this feature request. The workaround is to nest the item into a timeline larger than the element itself then apply the effect to the nest.