Is your organization in need of a serious boost in fundraising? Are you searching for a way to unlock more funds for your mission without placing additional strain on your organization’s precious time and resources? It’s time to revamp your fundraising strategy with one of the most underutilized approaches in nonprofit fundraising: corporate matching gifts.
In this article we’ll delve into what matching gifts are, why so many nonprofits are missing out, how they’re vital to your organization’s success, and best practices to help you take full advantage of matching gifts and multiply your incoming donations in no time.
What are matching gifts? 🧐
Matching gifts are a form of corporate philanthropy in which companies financially match individual donations their employees make to nonprofit organizations, effectively netting your organization two donations for the cost of soliciting one. For every $50 donation, if a donor submits a matching gift request to their employer, your organization will receive $100. And some companies even match donations at a 2:1, 3:1, and even 4:1 ratio!
While over 18 million individuals are employed by companies that offer matching gift programs, an estimated $4-7 billion in matching gift revenue goes unclaimed each year. Imagine the difference this unclaimed matching gift revenue could bring for your organization in advancing your cause.
So why are nonprofits and charitable organizations missing out on the matching gifts goldmine? ⭐️
The root of the issue with missed matching gift revenue is a lack of donor awareness. Only a little over 1% of individual donations to charitable organizations are matched through a corporate giving program.
And yet, 1 in 3 donors who are made aware of matching gift programs indicate that they would give a larger donation if their gift is being matched. Donors love to know their donation can have double the impact for your organization’s cause — they are more likely to give, and give more, if matching gifts are applicable to their donation. If given the opportunity, donors are motivated to drive a match to completion and maximize their donation’s impact on your mission.
Why are matching gifts so important for your organization? ✌️
2020 has been a difficult year for everyone, and charitable organizations and nonprofits have certainly felt the fall-out as well in their fundraising campaigns. Perhaps 2020 proved a difficult year for drawing in new donors or achieving annual goals — but with matching gifts, you can boost your fundraising revenue without having to ask donors to reach back into their pockets. Throughout the COVID-19 pandemic, corporate matching gift programs have remained strong, and even in some cases increased. Now more than ever, matching gifts can serve as an essential source of revenue for your organization.
Learning how to take advantage of matching gifts can offset the changes this year may have brought to your organization’s revenue stream, and help bolster your revenue in the years to come so that you can reach, even surpass, your goals and advance your mission.
Make the most of matching gifts and boost your fundraising in no time 🚀
Now that you know all about what matching gift programs are and the meaningful difference they can make for your organization, it’s time to get started. Read on to learn more about best practices when introducing matching gifts to your fundraising strategy.
🤓 Educate and inspire donors
We’ve already covered that the primary reason matching gifts are so underutilized by nonprofits is a lack of donor awareness! Luckily, this issue can be fixed by providing educational materials to donors that outline the basics and how-to’s of matching gifts. Including information on matching gifts in your digital marketing materials and social media appeals can even draw in new donors: 84% of donors say they are more likely to donate in the first place if their gift will be matched!
📍 Provide your donors with next steps
Consider the donation process from your donor’s perspective. A streamlined process will encourage more matches to be driven to completions and garner more revenue for your organization! You can achieve this by providing a simple and clear way for donors to submit matching gift requests to their employer during your donation process. We recommend incorporating this step as a part of your online donation process by directing donors straight to their employer matching gift request forms from your online donation forms.
👋 Follow-up with donors
Following-up with donors is an important step in the donation process - it helps maintain good donor relationships and grow your donor base! The way to maximize the chances that your donors submit matching request forms to their employers after making a donation is simply to remind them. Make use of multiple avenues to achieve this - include reminders about matching gifts on your donation confirmation page, your “ways to give” page, even in personalized email outreach. Provide donors with every chance possible to capitalize on matching gifts.
The simplest and most effective way to accomplish all of the above and incorporate matching gifts into your fundraising strategy is to use a matching gift automation software, like 360MatchPro by Double the Donation. 360MatchPro integrates flawlessly into Givebutter’s online donation tools to automate this entire process for you by informing donors of their eligibility status during the donation process, providing a direct link from your donation forms to their employer matching gift request form, and conducting personalized email outreach that can be customized to reflect your organization exactly as you see fit.
The 360MatchPro and Givebutter integration will set your organization up for success with matching gifts. With this streamlined and automated process management, you and your organization’s team can focus your energies on continuing your good work, and watch the matching gift revenue come rolling in!
To get started with matching gifts, schedule a personalized demo today. Be sure to mention you use Givebutter when you schedule!
Adam created Double the Donation in order to help nonprofits increase their annual revenue through corporate matching gift and volunteer grant programs.