In the ongoing search for funding, it’s important for nonprofit organizations to leave no stone unturned. A corporate matching gift program is one strategy that can enhance your organization’s fundraising plan. Here’s a refresher course on how to increase your nonprofit’s fundraising by taking advantage of a corporate matching gift program.
How they work
Dollar-for-dollar matching is common among many corporations, but some companies may offer more, and others less. Many match donations to any nonprofit, but some are more restrictive and won’t match donations to, for example, political or religious organizations or those that are potentially controversial.
Most matching gift programs are managed by HR departments, which provide employees with matching gift forms. Employee donors send these completed forms, along with their donations, to the charity of their choice. The forms generally provide step-by-step instructions for securing the matching funds from your donor’s employer — including deadlines, required support documents and where to send them.
Be sure your staff is familiar with your matching gift forms. Train all employees and volunteers who open donor mail on procedures for handling matching them. Otherwise, they may unwittingly throw away donations.
Steps to take
Don’t simply submit the forms your donors provide. You can take other simple steps to increase the amount of matching funds you receive. One often-successful approach is to draw up a list of employers in your area that offer matching funds. Typically, you can find this information in annual reports, on company websites or by calling companies’ HR, PR or community relations departments. If a company also operates a foundation, matching programs may run through that entity.
Once you have a comprehensive and accurate list, post it on your website’s donation page, and use it to reach out to existing donors you know work for those companies. Although it can be time consuming, it’s important that you keep this information up to date. Another strategy is to include a matching funds message in all of your solicitations. Letters might include a P.S. reminding potential donors to check with their HR departments to see if matching funds are available.
Post a similar message on the donations area of your site or in your print newsletter. This approach is more passive than compiling a list of companies, but it’s also less labor-intensive. You simply write a matching funds appeal once, such as: “Does your employer offer matching funds on employee donations? To potentially increase your impact, check with your HR department and include the matching gift form with your donation.” Then repeat that message at every opportunity.
Other options
Corporate programs represent only one chance to raise more cash for your organization. Another is to create your own matching funds pool.
Approach your board and major supporters about providing matching donations related to a specific campaign goal. Countless parameters are possible. You may want to, for example, match all donations from new contributors in the month of March, or match repeat donors who increase their donation amount by $20.
The advantage to your organization is plain: You make the process of donating more attractive, which should, in turn, boost your intake. For their part, donors get to enjoy making a larger dollar impact than they’d have been able to manage on their own. Knowing the donation will be matched, donors might even bump up the amount of their gift. This can be especially true if you have a minimum amount eligible for the match.
Make the move
Using a corporate matching gift program can be a win-win for all concerned. Employees obtain access to an easy method to increase the power of their gifts and the corporations that employ them gain valuable PR and goodwill. Last but not least, nonprofit organizations obtain access to large pools of potential donors.
