President, Double the Donation
One of the best ways to engage your organization’s donors—not to mention draw in new supporters—is to make your nonprofit stand out. After all, there are probably tons of charitable causes in your community aiming to target your same group of donors. And taking a few steps back, for-profit businesses are vying for those individuals’ dollars as well.
If your nonprofit is looking for new ways to stand out from the crowd, strategic participation in corporate philanthropy fundraising is a fantastic way to go. After all, corporate fundraising:
- Offers additional engagement opportunities
- Increases mission impact
- Leverages corporate co-marketing efforts
- Showcases the legitimacy of your cause
Ready to learn more about the advantages of corporate philanthropy on nonprofits and how these initiatives can further highlight charitable missions? This quick guide will answer these questions and more.
Now, let’s dive in with the “why” behind these programs’ significant impact.
1. Offers additional engagement opportunities
Corporate fundraising comes in many forms, with opportunities available for nonprofit teams of all shapes and sizes. As you explore this guide, we suggest keeping in mind two of our favorite (and extremely common) forms of corporate giving that just about any nonprofit can benefit from—which are matching gifts and volunteer grants.
Each of these initiatives begins with and relies on an individual nonprofit supporter, making them particularly personal forms of corporate giving. When your organization’s supporters work for philanthropically-minded companies, many will offer to financially support the causes their employees care about. In terms of matching gifts, this means the business provides a matching donation in response to an employee making an individual donation first. For volunteer grants, the corporation provides a monetary grant according to the number of hours an employee volunteers with a qualifying organization.
So what does this mean for your donors and volunteers? You get to provide them with unique and powerful opportunities to support your cause above and beyond their typical contribution—whether of money or time—without having to reach back into their own wallets to give more. This can be particularly favorable for nonprofit supporters who are already giving at their limits yet would love to be continually involved with your cause.
2. Increases mission impact
Corporate giving research by Double the Donation reports that 84% of nonprofit supporters are more likely to donate if a corporate matching gift is offered. At the same time, 1 in 3 donors is willing to make a larger contribution if they know it’s being matched.
A big reason for these findings has to do with the idea that people give charitably when they can see their dollars being used to make a significant difference on an organization’s cause. When matching gifts (or, in a similar vein, volunteer grants) come into play, that impact is immediately doubled—or sometimes even tripled.
Let’s look at a few examples:
Imagine you run a food bank that’s currently raising funds to restock your community pantry. On your donation page, you advertise that $5 can feed a family of 4 for a day. That’s already an exceptional giving opportunity that communicates the direct impact of a donor’s potential gift. Incorporating matching gifts in your fundraising strategy can drive impact even higher when you highlight that the same $5 donation can now feed two families.
Alternatively, suppose you’re in charge of fundraising at a local animal shelter. You have a group of volunteers who come in to regularly care for and socialize with the furry friends waiting to find their forever homes. Upon researching your dedicated volunteers’ employers, you determine that many of these team members are eligible to request corporate volunteer grants on your behalf as a result of the donated hours spent working at your shelter. You choose to promote these opportunities to volunteers, focusing on the fact that they can double the impact their generous hours have on your organization. Not only do they spend time caring for the animals, but securing a volunteer grant from their employers enables them to provide much-needed supplies as well!
As you can see, taking the time to market corporate giving opportunities to your organization’s already committed supporters can lead to increased participation, elevated engagement, and more. Meanwhile, it’s also a great way to draw in first-time donors and volunteers looking to make a significant impact on a charitable mission they care about.
3. Leverages corporate co-marketing efforts
Another huge benefit of corporate philanthropy on both nonprofits and companies is the positive marketing attention associated with fundraising efforts.
Let’s say you have an upcoming fundraising event for your nonprofit cause. Seeking one or more corporate sponsorships can be a fantastic way to increase not only funding but also awareness of the campaign initiative.
When you partner with a local business, for example, they agree to give generously to the fundraiser. At the same time, they hang flyers promoting the business around the store, post on their social media accounts, and more to get the word out. Now, more of the businesses’ network—including both consumers and staff members—has been exposed to your fundraising efforts. They may decide to look into your cause, attend your event, or even make a substantial donation themselves.
4. Showcases the legitimacy of your cause
Most companies that offer corporate giving programs have some sort of stipulations in place surrounding the types of nonprofits that are eligible to receive the businesses’ funding. This may be handled by solely offering corporate dollars to organizations on a predetermined list, giving to particular categories and missions of nonprofits, or specifically screening potential causes before entering into a partnership.
When an organization participates in corporate fundraising efforts and works alongside a range of businesses, they communicate to donors and potential supporters that their cause is legitimate.
Not to mention, a nonprofit being listed as a registered charity on a company’s or CSR platform’s compilation of approved corporate funding recipients can even increase exposure to new donors looking to locate a worthwhile organization to give their support.
Whether you’re looking to grow your organization’s matching gift efforts, emphasize volunteer grant opportunities, seek corporate sponsors for your upcoming fundraising event, or leverage other workplace giving initiatives, participating—and prioritizing—corporate fundraising is a must.
Not only will these for-profit business partnerships lead to increased corporate revenue flowing into your organization, but they’ll also drive higher levels of individual engagement and long-lasting support. Good luck!