Corporate giving represents a major revenue opportunity for nonprofits, but organizations are typically unaware of this. To make sure your team isn’t overlooking corporate support, learn about these key areas of corporate giving:
- Matching Gifts
- Volunteer Grants
Corporate social responsibility benefits all parties involved: companies, nonprofits, and donors. If you’re ready to boost your nonprofit’s revenue, let’s dive in!
Matching gifts is a type of corporate philanthropy that allows donors to double (sometimes even triple!) their donations to nonprofits. Here’s how they work:
- A donor makes a gift to your nonprofit.
- The donor researches their employer’s giving program.
- If eligible, the donor submits a match request to their employer.
- The employer reviews the request and verifies the gift with the nonprofit.
- The employer sends a check to the nonprofit.
Think about it: If donors can multiply their contributions without reaching back into their own pockets, why wouldn’t they? Plus, they might even donate more! In fact, 1 in 3 donors indicates they’d give a larger gift if matching is applied.
All it takes is submitting a brief match request. Plus, if you use a matching gift database, your nonprofit can pinpoint match opportunities with minimal effort.
When a supporter is passionate about giving but doesn’t have the capacity to do so, they typically turn to volunteerism. Companies support this generosity with volunteer grants.
The process is very similar to matching gifts. Here’s how volunteer grants work:
- An individual volunteers with a nonprofit.
- The volunteer checks their eligibility for a grant with their employer’s program.
- If eligible, they submit a grant request to their company.
- The company confirms the volunteer hours with the nonprofit.
- The company sends a check to the nonprofit.
Typically, companies have a set grant amount for a minimum number of hours volunteered. Make sure to check each program’s guidelines and restrictions. That way, your team won’t miss out on this revenue.
If your volunteer base is rapidly growing, volunteer grants may be a powerful revenue source for your nonprofit. Learn more with Double the Donation’s volunteer grant guide!
Oftentimes, nonprofits are the major beneficiaries of corporate-nonprofit relationships. However, these partnerships should be mutually beneficial.
From the corporate perspective, businesses provide their nonprofit partners with:
- Public recognition by promoting their events
- New volunteers through employee volunteerism
- Additional revenue
From the nonprofit perspective, nonprofits provide corporations with:
- Public recognition for their generous support
- Increased employee morale and retention
- Developed employee skills with volunteer opportunities
Oftentimes, these benefits occur naturally, but it’s up to both businesses and nonprofits to take a proactive approach.
To acquire these partnerships, conduct effective, continuous outreach and ensure your corporate partner is benefitting just as much as your nonprofit.
Corporate giving is a goldmine that often goes untapped by nonprofits. Now that you know the basics of corporate philanthropy, share this information with your team and your donors.
In no time, you’ll boost your fundraising revenue by forming partnerships and making the most of corporate giving!
About the Guest Blogger
Adam Weinger is the President of Double the Donation, the leading provider of tools to nonprofits to help them raise more money from corporate matching gift and volunteer grant programs. Connect with Adam via email or on LinkedIn.