The Ultimate Way to Communicate with Donors
Matching gifts are a valuable and often underutilized source of funding for nonprofits. As a form of corporate philanthropy, they represent an opportunity for organizations to double (or even triple) donations without any additional fundraising effort. But beyond the financial benefits, matching gifts also provide valuable engagement opportunities for donors.
In this guide, we’ll cover the basics of matching gifts, including how they work and their benefits. We’ll also cover how to use matching gifts to engage with donors and how to promote these opportunities within your organization.
What are Matching Gifts?
Matching gifts are a type of corporate philanthropy where a company agrees to match (or multiply) the charitable contributions made by its employees. For example, if an employee makes a $500 donation to a nonprofit, the company might match that donation with an additional $500 (or sometimes more), effectively doubling the total contribution to the nonprofit.
The matching ratio can vary widely, ranging from 1:1 (where the company matches the donation dollar for dollar) to 3:1 or higher (where the company donates $3 for every $1 donated by the employee). The exact ratio is usually determined by the company’s matching gift policy.
The process for requesting a matching gift varies by company. Typically, it involves the employee submitting a matching gift request to their employer, either through a dedicated matching gift platform or directly to the HR or corporate responsibility department. The company then verifies the donation and sends the matching funds to the nonprofit.
While matching gifts can be a fantastic source of funding for nonprofits, they are often underutilized because donors don’t know their employer offers such programs, or they don’t know how to access them. This is where communication and engagement strategies come into play.
Benefits of Matching Gifts for Nonprofits
There are several key benefits that matching gifts provide to nonprofits:
1. Increased donations
The most obvious benefit of matching gifts is the potential to double or even triple donations. This can significantly boost a nonprofit’s fundraising efforts without any additional cost.
2. Increased donor engagement
Matching gifts can also help to increase donor engagement. Donors who know that their contribution will be matched are more likely to give and may even be motivated to give more. This can help to strengthen the relationship between the nonprofit and its donors, potentially leading to higher donor retention rates.
3. Broader reach
Matching gifts can also help to extend the reach of a nonprofit’s fundraising efforts. When a company matches an employee’s donation, it not only amplifies the financial impact but also signals to other employees that the company supports the nonprofit. This can lead to increased awareness of the nonprofit and potentially attract new donors.
4. Enhanced corporate relationships
Matching gifts offer a unique opportunity for nonprofits to forge and strengthen relationships with corporations. By actively promoting matching gifts and providing clear instructions on how to access these programs, nonprofits can position themselves as valuable corporate partners. This can open up additional avenues for funding and collaboration.
How to Use Matching Gifts to Engage Donors
Now that we’ve covered the basics, let’s look at some strategies for using matching gifts to engage with your donors.
1. Communicate about matching gifts
The first step in using matching gifts as an engagement tool is to communicate about them. Let your donors know that their employer might offer matching gifts and explain what this means. Make it a habit to mention matching gifts in all your fundraising communications, including your website, emails, and social media posts.
2. Make it easy to apply for matching gifts
Another important step is to make it easy for donors to apply for matching gifts. Consider providing clear instructions on how to access their company’s matching gift program, including how to fill out the matching gift form. You could also provide a matching gift database on your website to help donors find out if their employer offers this benefit.
3. Say thank you
Remember to thank donors who take the time to apply for matching gifts. This not only shows your appreciation but also encourages them to do so again in the future. A personalized thank-you message that acknowledges the matching gift can make donors feel valued and appreciated.
4. Leverage matching gifts for campaigns
Consider leveraging matching gifts for specific fundraising campaigns. For instance, you could run a campaign where all donations are matched, encouraging donors to give during this specific period. This not only amplifies the financial impact but also creates a sense of urgency that can boost donor engagement.
5. Use social proof
Share stories of how matching gifts have made a difference in your organization. This can inspire other donors to apply for matching gifts, as they can see the tangible impact of such programs. This also gives you an opportunity to highlight the donors who have contributed through matching gifts, making them feel valued and appreciated.
How to Promote Matching Gifts Within Your Organization
While it’s important to engage donors about matching gifts, it’s equally important to promote these opportunities within your own organization. Here’s how you can do that:
1. Educate your team
Make sure your entire team understands the concept of matching gifts and their benefits for the organization. This includes board members, staff, and volunteers. By educating your team, you ensure that everyone is equipped to discuss matching gifts with donors.
2. Include matching gifts in your fundraising strategy
Incorporate matching gifts into your overall fundraising strategy. This might involve setting goals for matching gift revenue, including matching gifts in your annual report, and acknowledging donors who have contributed through matching gifts.
3. Leverage technology
Use technology to streamline the matching gift process. For example, some donor management software platforms include features that allow you to track matching gifts, making it easier to manage these opportunities. You could also use matching gift platforms or databases to help verify donor employment and identify matching gift opportunities.
4. Track and measure your success
Finally, track and measure your success with matching gifts. Monitor the number of matching gift requests, the total revenue from matching gifts, and the increase in donor engagement as a result of these programs. This data can help you refine your matching gift strategy over time and demonstrate the value of these programs to your organization.
By implementing these strategies, your nonprofit can make the most of matching gift opportunities, boosting both your fundraising revenue and donor engagement. Remember, every donation counts, and with matching gifts, your donors’ contributions can go even further.
