Many businesses and corporations in your community help nonprofits, and if you’re a nonprofit executive or fundraiser, you should consider pursuing support from companies. When corporate sponsors help your nonprofit, they are looking to have their brand benefit from the halo effect of being a good corporate citizen in their community. In other words, by doing good, they hope they will get new customers, retain current ones and be a leader in their community.
There are several ways that your nonprofit can get corporate sponsors to help you propel your mission forward, which can make a significant impact on your organization.
One of the easiest ways to double and even triple donations made by corporate employees to your nonprofit is to make them aware of matching gift programs from the companies where they work. When donors understand what corporations make matching donations, they fill out the appropriate matching gift form and once approved, your charity will get additional funds that at least match, if not triple the amount of the employee’s gift to your organization. One of the best resources for matching gifts is Double the Donation.
A great way to get people from corporations involved in your organization is by creating volunteer opportunities. When you promote volunteerism in your nonprofit, you are giving people that work at businesses a chance to get familiar and roll up their sleeves for your programs, which often leads to fundraising dollars. Volunteerism is an excellent way to recruit corporate employee supporters, which can place your nonprofit on the radar of corporations for future financial support from both employees and the companies where they work. Remember, businesses want to know the nonprofits their teams support because it helps companies with employee retention.
Another fantastic way to get corporate support is to ask for in-kind contributions from companies. Instead of supporting your nonprofit with money, a corporate sponsor can provide you with necessary goods or services that are valuable to your organization. For instance, you can receive marketing, legal or financial expertise from firms that offer you in-kind donations, which can save your organization thousands of dollars in professional fees. Another opportunity can also exist by asking corporate sponsors to help you with their teams in providing your CRM or technology support.
Some corporations provide their employees with an opportunity to donate to a favorite charitable cause through a payroll deduction. Deductions made directly from wages is an excellent way to get support from workers because it’s automatic, which means that the highest likelihood is that your nonprofit will receive a larger average gift. As an example, instead of a donor giving you $50, if a corporate employee deducts just $5 weekly automatically from their paycheck, in one year, that donor will have donated $260 to your nonprofit.
Corporate grants are direct financial contributions to your nonprofit organization. Pursuing corporate donations is one of the most cost-effective ways to raise money. Events, for instance, typically are one of the most expensive ways to fundraise with every dollar donated costing your organization about $0.30. However, like raising funds from individuals, when your organization pursues corporate grants, the expenses can be approximately $0.10 for every $1.00 raised. For the world’s largest repository on grant information, make sure to start with a visit to the Foundation Center.
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