Every nonprofit organization has to use some sort of fundraising in order to keep things running smoothly. And while there are multiple ways to raise money for your mission and cause, one of the easiest methods to gain more revenue is to incorporate and promote matching gifts across your organization’s fundraising efforts.
Matching gifts are corporate giving programs that encourage employees to donate to nonprofits. Employers will make a matching contribution to an eligible nonprofit after an employee has donated and submitted a matching gift request.
Matching gifts allow companies to boost their cultures of corporate social responsibility. Donors get to give twice as much without opening their wallets a second time.
And nonprofits obviously benefit by receiving twice as many donations. Below, you’ll find the top five ways your nonprofit should be incorporating matching gifts into your fundraising efforts.
1. As Part of Peer-to-Peer Fundraising
If your nonprofit isn’t already taking advantage of peer-to-peer fundraising, it should be! Nonprofit Hub’s helpful infographic can tell you why peer-to-peer fundraising works, and this article will explain how matching gifts can help your peer-to-peer fundraising strategies.
One of the benefits of peer-to-peer fundraising is that your donors are already talking to their friends, family members and colleagues about giving to your nonprofit. If your existing donors work for a company that offers a matching gift program, ask them to mention the program to their coworkers when they’re asking for donations.
Your nonprofit can not only use peer-to-peer fundraising to acquire more donors, but if those donors work for companies with matching gift programs, you can bring in twice as many donations.
2. As Part of Your Major Gift Outreach Strategy
Every organization is looking for a major gift prospect. Prospect research can help you find your next major gift donor, but you can encourage major gifts by promoting matching gifts.
When donors realize that their large donation can become two large donations, they will be more inclined to make a contribution and become a major gift donor.
Additionally, when one of your major gift donors works for a company that matches donations, your organization is in a better position to form a partnership with that company, resulting in more donations and volunteers in the future.
3. As Part of Your Annual Fund
People give for many different reasons. Whether it’s the tax incentive or that warm, fuzzy feeling, donors want to contribute money to causes that they care about.
You can appeal to donors’ motivations for giving and receiving twice as many donations when you promote matching gifts for your annual fund.
Annual giving can lay the foundation for regular donors and potential major gift contributors. When you throw matching gifts into the mix, you are able to maximize donations and help donors’ contributions go twice as far.
4. As Part of Your Phonathon
One of the quickest and easiest ways to encourage donors to look into matching gifts is to simply talk to them about it. While you could send out emails and direct mail that effectively market matching gift programs to donors, sometimes it’s better to just talk them through the process.
When your nonprofit hosts its next phonathon, incorporate matching gift information into the script. Although donors won’t be able to immediately submit a matching gift request, they’ll be armed with the necessary facts to divide and conquer matching gifts.
For more help with your phone fundraising, check out these six simple tips.
5. Across Your Fundraising Events
If you’re a school, religious group or general nonprofit, there’s a good chance you host fundraising events throughout the year.
For these events you’re likely asking companies to donate, sell tickets, have a silent auction and ask for donations. A little known fact is that the majority of companies with matching gift programs will match the tax deductible component of an individual’s contribution. That means if you sell a ticket to a fundraising gala for $500, a large percentage of that would be matching gift eligible if the donor works for a company with a matching gift program.
Make sure to raise matching gift awareness among your event supporters.
Matching gifts can help take your nonprofit’s fundraising efforts from good to great. Whether you’re incorporating them into your peer-to-peer fundraisers or in your phonathon, your organization can benefit from the marriage of fundraising and matching gifts.