Deploying targeted corporate philanthropy strategies continues to help nonprofits reach financial goals.
Corporate philanthropy is the act of a business providing support to a cause. Corporations typically do this through charitable donations or providing their time in the form of volunteerism. Did you know that corporate philanthropy increased by 3.5% in 2016 vs. 2015 giving?
In 2016 alone, corporate giving generated over 18 billion dollars to nonprofits nationwide. Many corporations around the world see the value in philanthropy. Based on 2015 data, 6 out of 10 companies offered employees paid time to volunteer in the community.
Corporations are also engaging employees to give by offering matching donation programs. In 2015, 9 out of 10 companies encouraged this form of philanthropy. Corporate philanthropy offers nonprofits a unique opportunity to drive their programs, build key relationships, and of course make a bigger difference in the community with a corporation’s support. How is your nonprofit engaging corporate donors?
Are you helping businesses see the value in creating a culture based on philanthropy?
— VolunteerHub (@volunteerhub) November 16, 2017
Here are 4 corporate philanthropy strategies your nonprofit should encourage corporations to participate in.
As mentioned earlier in this post many businesses see the value in matching gifts as a form of corporate philanthropy. Matching gifts allow a corporation to get their employees involved in a cause and make a bigger impact. Matching gifts also greatly increase employee philanthropy and participation.
A survey by The Big-Give Research Initiative found that 84% of participants are more likely to donate if a match is offered by their employer. It is estimated that between 2 and 3 billion dollars is donated through matching gift programs on an annual basis.
How does your nonprofit get corporations involved in a matching gift program?
Here are a few tips:
- Make sure your nonprofit is promoting matching gifts on your donation page.
- Use your nonprofit’s website to promote matching gift programs to donors and corporations.
- Use social media to let the community know about matching gift programs.
- Contact corporations and small businesses in your community and leverage their involvement.
- Promote matching gifts on all your fundraising communications.
- Provide donors and prospects with the ability to see if their company participates.
Payroll deductions are an appealing way to promote corporate philanthropy. Payroll deductions make the process of giving easy by automatically deducting a charitable gift from employee’s paycheck. These contributions come out of an employee’s after-tax earnings. This type of corporate philanthropy is appealing for a business because it limits the number of admirative expenses.
According to a study by charities.org allowing employees to make financial donations directly from their paycheck also has been shown to increase engagement. In order for your organization to receive payroll deductions, you need to get on a corporations list of eligible nonprofits. A great way to build a list of what businesses to reach out to regarding payroll deductions is to analyze your existing donor base and identify where your supporters work.
Community grants offer benefits to both a corporation and nonprofits working in the community. A community grant are funds provided by a business that is available for eligible nonprofits and community-based organizations that make a difference in an organization’s local community.
This form of corporate philanthropy can offer a corporation positive brand recognition in the community that they are headquartered and/or do business.
Community grants are also important because they have the potential to impact the local economy around a corporation.
Volunteer grants are a great way to make a financial impact and promote volunteerism at the same time. Volunteer grants are charitable gifts that are provided to a nonprofit organization in recognition of volunteer hours that have been devoted by a company’s employees.
Did you know that 80% of companies that have volunteer grant programs pay between $8-$15 dollars per volunteer hour? Many companies across the world are getting involved in volunteer grants as a form of corporate philanthropy.
Currently, 40% of all fortune 500 companies offer volunteer grant programs to their employees and nonprofit partners.
Corporate philanthropy is a huge component of nonprofit fundraising. There are many avenues that corporations can use to get involved in giving such as providing matching gifts, offering payroll deductions for donors, creating community and volunteer grant opportunities. How is your nonprofit promoting these programs to organizations in your community?