When planning your nonprofit’s fundraising strategy for the year, it’s easy to lose sight of other giving opportunities outside of individual donors. But has your nonprofit explored all corporate giving possibilities? This might bring to mind stacks of applications and a long list of requirements, but corporate philanthropy has evolved far beyond grants. Below, read about ways your nonprofit can build beneficial relationships with corporations that want to give back.
What is corporate social responsibility and what is corporate giving?
In a nutshell, corporate social responsibility (CSR) is a way for a business to give back to society and make a positive impact while also raising brand awareness and generating more revenue. This term is used interchangeably with corporate giving. In 2017, corporations contributed over $20 billion in charitable giving, investing in everything from global initiatives to local community-based NGOs.
CSR programs are extremely valuable for nonprofits because they can help raise awareness for their cause, bring in new volunteers, and of course, help contribute to their yearly fundraising goals.
Corporate giving examples
Companies have realized that they want their giving to go further, drive more impact, create more buzz, and make a lasting impact. This is why they’ve branched out to develop CSR programs that offer many different ways of giving back. Here are a few of the most common ways corporations give back:
These programs can double donations to nonprofits through employee and employer contributions. With every donation an employee makes, their employer pledges to donate the same amount, or more.
Not all donations have to be monetary. When a business makes an in-kind donation, they contribute goods, services, or even advertising efforts to a nonprofit instead of making a monetary donation.
Through volunteer grants, businesses encourage their employees to volunteer with a specific nonprofit. Then, if employees meet a certain number of volunteer hours, the business will donate funds to the nonprofit.
Benefits of corporate social responsibility
Organizations that have embraced corporate giving programs rally their employees to give, fundraise, and share, therefore increasing exposure to your nonprofit. These are a few more benefits:
- Taking part in a CSR raises brand awareness for your nonprofit and puts the corporation in a favorable light—a win-win for all involved.
- CSR programs engage employees, which means a whole new pool of potential donors for your nonprofit.
- These programs can also create new volunteer opportunities for participating employees, which means more helping hands with your fundraising initiatives.
Go beyond grants with these three corporate giving ideas
If you’re ready to bump your fundraising strategy up a notch, try one or all of these fundraising tips:
1. Make generosity easy
Charities want to be heard and spread their mission. Donors want to go beyond the donation and give back via sharing, fundraising, and combining their personal narrative with that of your nonprofit. The perfect solution? Peer-to-peer fundraising.
Peer-to-peer fundraising is a key giving strategy that nonprofits heavily rely on, but it has taken on a new shape in the last decade with the arrival of social media and crowdfunding. Now, peer-to-peer fundraising tools are optimized for social sharing and make it effortless for supporters to promote your cause.
Many employees want to take advantage of their employer’s donation matching and CSR initiatives but aren’t sure how or don’t have the time to explore options. Your nonprofit can make it easy for them to give by putting a peer-to-peer fundraising tool in place.
2. Partner with a business for a donation match drive
A donation match drive is one of the most common corporate giving strategies that nonprofits take advantage of. When you take a dedicated corporation, a group of like-minded supporters, and an already-vibrant social community, successful match campaigns can drive more than double the dollars and infinitely more impact.
Matches can be designed in many different ways, but in most cases, corporations volunteer to match what nonprofits raise dollar for dollar up to a certain dollar amount—all for a good cause. To run a successful donation match drive, you’ll want to partner with a corporation that shares the same mission and values as your nonprofit.
3. Secure a corporate sponsor
Corporations are right to want to impact more causes, reach more customers, and better align their brand with doing good. That’s why sponsoring a nonprofit is in the interest of many corporations.
A nonprofit can also reap just as many advantages from corporate sponsorship beyond monetary donations. It can receive influence, awareness, new volunteers, and of course, new donors.
It may not always be easy to secure a corporate partnership, but these tips can help:
- First, make a list of local businesses you’re interested in approaching. These should be businesses that align with your own mission and serve the same demographic.
- Create a list of benefits each business will receive from the sponsorship that is specific to the business and its mission.
- Compile insights giving trends to your nonprofit and be prepared to explain why this data points to a successful partnership with this business.
- If a business can’t offer monetary sponsorship, make them aware of your other needs. Are you looking for a venue for an upcoming event? Advertising? Food or drink? Many businesses may be willing to provide in-kind donations in lieu of cash.
Tap into corporate philanthropy right now
By combining the power of CSR programs with the rest of your fundraising efforts, you can connect with your supporters on a deeper level, build lasting partnerships with businesses, and increase overall funding. First, you need to ensure your fundraising drive is set up on a platform that delivers the functionality your nonprofit needs with a stellar peer-to-peer option. Sign up with GoFundMe Charity today and discover how you can harness the power of corporate giving through our advanced charity software—all with no subscription costs, contracts, or platform fees.