Matching Gifts Increase Fundraising Revenue.
It’s no secret that matching gifts lead to better fundraising outcomes. After all, the core purpose of these programs is to fund worthwhile causes. First, let’s provide some context about what matching gifts are. When a donor works for a company that offers matching gifts, every dollar they contribute to your organization can be matched. If they give $100, their employer will also give $100. Double the Donation-48in48-Why Matching Gifts? 3 Data-Driven Reasons That Prove Value-Supplementary- Alt text: This image depicts that a company will double an employee’s donation with a matching gift.
- Nonprofit eligibility. Companies might match gifts for any 501(c)(3) organization, or they might exclude certain causes from being eligible, such as religious organizations.
- Employee eligibility. Participation may be based on an individual’s employment status, such as full-time, part-time, or retiree.
- Eligible donation amounts. Businesses will list the minimum and maximum donation amounts they’ll match, such as between $15 to $5,000.
- Submission deadlines. To get their donations matched, donors must submit a request to their employers. Companies commonly set deadlines like one year post-donation or at the end of the calendar year.
Matching Gifts Boost Donor Engagement.
While each organization’s matching gift metrics and performance vary, it’s safe to say that corporate giving boosts donor engagement. Matching gifts can make a donor’s impact go twice as far—sometimes even further when companies offer higher match rates! Simply mentioning matching gifts in fundraising appeals results in a 71% increase in response rate and a 51% increase in average donation amount. That’s a major difference! Matching gifts are great for:- Donor acquisition. Inspire new donors by posting about matching gifts online, encouraging prospects to check their eligibility, and explaining how the process works. While they might not initially think their contributions will go far, knowing their company offers matches can help them realize their potential impact. When you develop a close relationship with particular companies, they might even recommend your cause to employees, expanding your donor base to new audiences.
- Donor retention. When companies double employees’ contributions, your donors are more likely to continue supporting your nonprofit. Corporate matches provide a way for donors to see the difference they’re making, motivating them to stick around. Just be sure to recognize donors when they take the extra step to get their gifts matched, so they feel like a valued part of your community.
Matching Gift Companies Make Great Partners.
Companies recognize they have a duty to give back to society. Nonprofits Source’s corporate giving trends article explains that workplace giving is on the rise, because today’s businesses know it’s a powerful way to establish themselves as socially responsible. For one, supporting nonprofits enhances reputation. Plus, programs like matching gifts get employees involved, resulting in a happier workplace. That’s why 39% of companies plan to expand their workplace giving programs in the next two years. Considering that workplace giving already results in $5 billion for charity each year, nonprofits can gain a lot by pursuing these opportunities and fostering relationships with companies that support employee giving. Foster relationships with companies that match gifts by thanking them for their contributions or asking them to promote match opportunities to employees. Over time, this can open doors to valuable collaborations and lasting partnerships. Here’s how you can locate potential partners via matching gifts:- Pay attention to where your matching gift eligible donors work. If you notice several work for the same company, that can indicate a partnership opportunity. You might also look for companies that simply offer generous corporate giving programs.
- Research potential partners. Think of this process as conducting prospect research on companies. Look into these companies and target those who have similar values to your nonprofit or sell products and services that complement your mission. For example, a pet supply store would make a great partner for an animal shelter. They can provide in-kind gifts like pet food and toys, promote the organization to their pet-loving customers, and encourage employees to donate.
- Discuss potential partnership opportunities with companies and encourage the creation of other workplace giving programs. For example, you might line up employee volunteer opportunities or suggest that the company enables payroll deductions with your nonprofit listed as a recommended recipient. In these conversations, be sure to highlight your mission and how your work and the companies’ services complement each other.