The fundraising landscape is constantly evolving.
In order to best prepare for success and effectively bankroll their mission programming, nonprofit organizations should be proactive about adapting their strategies to maximize their impact. One increasingly relevant aspect of this shifting landscape is the role of corporate giving in nonprofit fundraising.
In this guide, we'll explore:
Let’s dive in!
Corporate giving, or corporate philanthropy, encompasses the various ways a business gives back to society by contributing to charitable causes. For nonprofits, corporate giving opportunities supply them with much-needed financial support, access to valuable resources, increased reach or visibility, and more.
As you flesh out your strategy, understanding the different forms of giving will empower your team to locate available programs. Take a look at the following types of programs and consider how each one can benefit your organization.
First up, employee matching gifts are one of the most-used types of corporate philanthropy programs. Within this kind of initiative, companies match donations their employees make to charitable causes. When an employee gives, they can submit a matching gift request to their employer, who then verifies the donation and supplies a matching contribution of (typically) equal value.
All in all, matching gifts provide a valuable source of funding for nonprofits, as they effectively double the impact of each donation. Not to mention, the presence of a match can inspire greater individual giving, too!
Corporate or employee volunteerism refers to the practice of a company’s employees donating their time and skills to charitable causes. This provides nonprofits with access to new supporters, valuable time and resources, and unique expertise to drive forward their missions.
There are many forms of employee volunteerism that can benefit an organization, too. These include:
An event sponsorship involves a mutually beneficial partnership between a nonprofit and a corporation in which the company provides support or resources to help fund an upcoming event.
For nonprofits, corporate sponsorships can cover critical event expenses, such as venue rental, catering, marketing materials, entertainment and more. Additionally, a co-marketed sponsorship effort can drive awareness and increase the reach of an upcoming event.
In return, corporations benefit by gaining exposure, brand visibility and a positive public reputation among the nonprofit's audience and attendees.
Cause marketing, or cause-related marketing, involves a marketing collaboration between a nonprofit and a corporation. While there is a wide range of benefits for this type of corporate philanthropy initiative, the efforts are generally centered on a shared goal of increasing visibility, awareness and support for each team.
In a cause marketing campaign, the company typically donates a pre-determined portion of proceeds from revenue generated through a specific marketing effort to its nonprofit partner. This might include co-branded product sales, point-of-sale campaigns, percent-of-sales campaigns and more.
Corporate in-kind giving partnerships differ from other forms of philanthropy in that they involve the donation of goods or services rather than monetary contributions. This can include products (e.g., clothing, food, school supplies, etc.), equipment (furniture, appliances, construction materials, tools, or vehicles), professional services (tax assistance, legal aid, marketing consultations, or advertising) and more.
While no funds are donated directly through this type of in-kind giving, such gifts provide invaluable resources that drastically reduce operational costs, allowing organizations to stretch limited budgets further than before.
A systematic approach to corporate giving enables organizations to tap into a wide range of available funding sources, ensuring no opportunity goes untapped.
Consider implementing the following strategies to get started today. Then, continue to scale your impact and build strong, mutually beneficial relationships.
From there, continue prioritizing ongoing communication and collaboration with your partners to nurture those relationships and drive impact for the time to come.
Understanding and adapting to patterns in corporate giving—as well as overall nonprofit fundraising—is crucial for nonprofits to ensure their efforts remain relevant and effective. We recommend assessing your organization’s current efforts, identifying a path forward, and building a realistic growth plan to capitalize on these opportunities. Then, continue to grow your efforts over time!
Let’s take a look at a few emerging trends we’ve observed that we anticipate will continue gaining momentum into the year and beyond:
Additionally, organizations are investing in technology and resources to streamline and automate the processes involved with corporate fundraising and stewardship, ensuring effective communication and ongoing collaboration with corporate partners.
Corporate giving supplies a significant opportunity for nonprofits aiming to enhance their fundraising efforts and expand their overall impact. And the potential continues to grow as the philanthropic landscape develops around us.
By staying informed about emerging trends, prioritizing strategic collaborations with corporate partners, and investing in the right technology to do so, organizations can position themselves for long-term sustainability and success. In the end, you’ll be better equipped to advance your mission and create positive change in the world.