Matching a part of an employee’s charitable donation is something companies across the country do for their workers. In fact, over 26 million Americans are employees at companies that practice this. Double the Donation, a software company, found that at least 65% of Fortune 500 companies participate in this practice as well. 91% of those employers match donations at a 1:1 ratio. Many employees consistently report they are more likely to make more frequent and larger charitable donations if their employers provide matches.
As an employer, corporate matching gifts can help your organization meet or exceed their goals, but you must encourage this practice and collect matching gifts. Here’s how.
Proactive Approaches
Most corporate matching gifts programs are managed by HR departments, which provide employees with matching gift forms. Typically, employers send completed forms, along with matched donations, to the charities employees have chosen. Dollar-for-dollar matching is most common among participating businesses, but some companies offer more, others less. Many employers match donations to any non-profit, but some are more restrictive.
Don’t just hope matching donations will roll in. Encourage matching by drawing up a list of employers in your area that offer incentives for employees to give. 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 operates a foundation, its matching program may run through that entity.
Once you have a comprehensive and accurate list, post it on your website’s donation page. Also use the list to reach out to existing donors you know work for those companies. All of your non-profit’s solicitations should encourage supporters to check with their employers about the availability of matching.
Automated solutions now exist to help non-profits identify donations eligible for a match. Donors themselves can use these solutions to determine whether their employers will match their gifts. Then, after your non-profit receives a donation, matching gift software can submit paperwork to participating companies.
Pooling Efforts
If, despite your non-profit’s best efforts, corporate matching gifts only occasionally trickle in, consider creating your own matching pool. Ask board members and major donors to match contributions during a limited time period, for certain populations or for a minimum donation amount. For instance, your board might match all donations from new contributors in February or a major donor might commit to match gifts made at your annual gala.
Also keep in mind that some charitable foundations will match gifts to jump-start a fundraising effort or major campaign. Such an arrangement could be easier to set up than securing a large employer to donate to your organization.
Don’t Miss Out
Double the Donation estimates that between $4 billion and $7 billion in corporate matching gifts goes unclaimed every year. Don’t leave money on the table! Educate donors and corporate givers and be persistent. If you don’t receive a matching donation, send reminders. Contact us for more ideas about boosting your non-profit’s revenue.
