Once you hear matching items, what do you consider?
Possibly it’s a significant donor who matches contributions made throughout a giant marketing campaign. As a nonprofit skilled, you may’ve even participated in a kind of. However do you know that there’s one other sort of matching items that may really present extra worth and are sometimes simpler for organizations like yours to learn from? Introducing: company matching items.
Many donors, together with those that give to your group, are eligible for matching items via their employers. Nonetheless, nonprofits typically underutilize this fundraising technique.
As a Google Ad Grants agency, we perceive the facility of harnessing each device at your disposal that may assist your nonprofit fulfill its mission. That’s why we’ve answered some essential questions on matching items so you’ll be able to leverage this main fundraising energy. These embody the next:
- What are corporate matching gifts?
- How do matching gifts differ from matching grants?
- How does the matching gift process work?
- What are corporate matching gift program criteria?
- What should the donor side of matching gifts look like?
- Is there a deadline to submit a matching gift request?
- Why are matching gifts important?
- Why aren’t more nonprofits using matching gifts?
- Which companies offer matching gifts?
- How do I get leadership support for matching gifts?
- How can I educate my team about matching gifts?
- How can my organization promote matching gifts?
- What is a matching gift database?
- How should I manage matching gifts with multiple chapters or affiliates?
- Are matching gifts the only type of corporate giving?
- Where can I learn more about matching gifts?
Able to familiarize your group with the fundamentals of matching items? Let’s leap proper in!
1. What are company matching items?
Corporate matching gifts are a type of company philanthropy during which corporations match donations their workers make to nonprofits and colleges. Most matching reward packages are open selection, which means any and all fundraising organizations can profit with no need to have a proper, pre-existing relationship with the company.
That’s the easy model.
Matching items are basically free cash. They let donors maximize the impression of their items with out reaching again into their very own pockets. In consequence, nonprofits can double and even triple their donation income.
2. How do matching items differ from matching grants?
Matching items are a kind of company philanthropy the place corporations match donations made by their workers to eligible nonprofits. Because of this when a donor offers, their employer contributes an equal (or typically higher) quantity, successfully doubling the impression. Many corporations match donations at a 1:1 ratio, however some supply 2:1 and even 3:1 matches, making it a simple technique to multiply fundraising {dollars} with out extra asks.
Matching grants, then again, are beneficiant funds put up by main donors, foundations, or companies that may multiply the giving by any donors, typically inside a restricted time-frame. In contrast to matching items, that are donor-driven, matching grants require nonprofits to safe contributions first to unlock the matching funds.
3. How does the matching reward course of work?
Matching reward packages range by firm, however right here’s an summary of the method in a nutshell:
- A person donates to a nonprofit. A supporter donates to your nonprofit, both on-line, by verify, or via one other giving technique.
- The person checks to see if their employer will match their donation. Many corporations have particular tips for matching items, reminiscent of minimal and most donation quantities, eligible nonprofits, and deadlines for submitting requests.
- The person submits a request for a match via their employer. If the donor’s firm affords a match, the person should submit a request for funds, both via their firm’s matching reward portal or paper type.
- The employer verifies the donation with the nonprofit. As soon as the donor submits the request, the employer verifies the donation and ensures it meets their program standards.
- The employer matches the person’s donation. After approval, the corporate points an identical donation—both by verify, digital funds switch, or via an identical reward platform. This course of can take anyplace from a number of weeks to a couple months, relying on the corporate.
Understanding the matching reward course of is vital to unlocking this hidden income. By streamlining the expertise and making it straightforward for donors to take part, your nonprofit can unlock hundreds (and even tens of millions) in further funding—all with out asking donors to offer extra!
4. What are company matching reward program standards?
Many corporations set up a coverage round matching items, full with outlined match ratios, minimal and most quantities, and worker/nonprofit eligibility. Let’s dive deeper into every of these classes to see which sorts of tips try to be conscious of.
Match Ratios
Most corporations match at a 1:1 ratio, which suggests a dollar-for-a-dollar match. Nonetheless, match ratios can span anyplace from 0.5:1 to 4:1. For instance, a 1:1 match on a $50 donation means $100 complete, whereas a 2:1 match on the identical $50 will get you $150 complete.
Minimal and Most Quantities
Firms even have minimal and most donation quantities that they’ll match. The most typical minimal quantity is $25, however these quantities can range from $1 to $100.
In the meantime, program maximums have a good wider vary, typically between $1,000 and $15,000. Nonetheless, quantities will nonetheless range under and above these figures.
With the intention to maximize your matching reward potential, it’s a good suggestion to maintain an eye fixed out for packages with low minimums and excessive maximums. These are going to supply the most effective alternatives for income!
Eligibility
Many corporations have restrictions on the varieties of nonprofits and workers which might be eligible to obtain or request a matched donation.
For nonprofits, most 501(c)(3) organizations are eligible for matching reward packages, together with educational institutions, arts and cultural organizations, environmental organizations, well being and human companies, and extra. The most typical restrictions are often towards spiritual or political organizations, nevertheless it’s nonetheless as much as the corporate. Immediately, most packages are open-choice, which means the worker may give (and get their items matched) to whichever organizations they’d like.
For workers, their eligibility additionally is determined by the corporate’s tips. This could embody full-time, part-time, and retired workers. Some corporations will even match items made by workers’ spouses or vital others, permitting for even higher matching reward potential for organizations!
5. What ought to the donor aspect of matching items seem like?
As you acquire donations out of your supporters, their expertise all through the method can decide whether or not you keep their help. That’s why it’s essential to streamline your whole donation course of, together with your matching reward efforts.
Right here’s how you are able to do so!
Consider Your Present Donation Course of
As donors give to your group, do they see useful sources about matching items? If not, the time of the donation is a main alternative to teach them. That is the place that embeddable matching gift search tool turns out to be useful! Enable donors to make use of the search device in the course of the donation stage to allow them to instantly take motion.
Comply with Up About Matching Items
As soon as donors have submitted their donation, comply with up and allow them to know that their reward can go twice as far—and provides them directions on how they’ll accomplish that. In the event that they haven’t submitted a match request to their employer, now is an ideal time to ship a follow-up electronic mail to get the ball rolling.
Once more, should you select to make use of a device like Double the Donation Matching, you’ll be able to automate this course of. This matching reward platform will routinely electronic mail donors in your behalf with the knowledge they want to determine their eligibility.
You possibly can even transcend electronic mail outreach by calling donors. Contemplate making cellphone calls to a narrowed-down listing of high-value matching reward donors who usually tend to submit a match request. Telephone calls take extra of your workers’s time, however being selective about who you name can add a significant human contact to your matching reward outreach.
Streamline Your Verification Course of
Whereas some organizations are unfamiliar with the verification course of for matching items, the excellent news is that it’s easy sufficient for groups to handle properly. Verifying the unique donation with an identical reward firm means familiarizing your group with the company giving platforms that corporations are utilizing.
A few of these top corporate giving platforms embody Benevity, YourCause, and CyberGrants. Understanding the rules for every of those main distributors will aid you reply to verification requests shortly and keep away from lacking out on any matching {dollars}. Be sure you educate your workers so that they perceive how the verification course of works.
Thank Your Donors
Thanking your donors ought to go with out saying, nevertheless it’s nonetheless one thing we now have to emphasise. Use your automation instruments to thank your donors not solely following their donation but additionally after you’ve obtained the match from their employer. It will aid you domesticate the relationships it is advisable to proceed rising and serving your mission as a nonprofit.
For top-value donors, take into consideration much more personalised approaches to offer your thanks. Handwritten letters, eCards, and cellphone calls from senior management workers are only a sampling of the channels you should use.
Reviewing how your nonprofit handles the matching reward lifecycle may also help you streamline the matching reward course of for donors. Make it as straightforward as doable for donors to submit their matching reward requests, after which comply with up to ensure they perceive what the subsequent steps are.
6. Is there a deadline to submit an identical reward request?
The deadline to submit a matching gift request will range based mostly in your donor’s employer. Nonetheless, there are three important varieties of deadlines a selected program may implement. This consists of necessities for donors to finish their submissions…
- Inside a set variety of months post-donation. An organization will match a present as much as a sure variety of months after the donation is made. For example, this may very well be three, six, or 9 months after the date of the donation.
- By the tip of the calendar 12 months. An organization will match a present inside the calendar 12 months of when the donation is made.
- By the tip of the calendar 12 months, plus a grace interval. An organization will match donations made via the tip of the calendar 12 months after which add extra months for workers to submit a request. These grace intervals often undergo the tip of January, February, or March.
Nonetheless, the extra time that passes after a supporter makes a donation, the much less doubtless they are going to be to submit a match request. That’s why you need to promote matching reward alternatives to them as quickly as doable.
7. Why are matching items essential?
Past boosting your fundraising income, matching items can even assist enhance donor retention and engagement. Do you know that 1 in 3 donors say they would give a larger gift if a match was utilized to their donation?
Simply figuring out that their donation will go twice as far encourages donors to offer a bigger reward on the outset. Equally, 84% of donors say they’re extra prone to donate if a match is obtainable in any respect. If in case you have a possible donor who’s on the fence about giving to your group, selling company matching items may give them the additional push they should make their determination.
Listed here are another eye-opening matching reward statistics to assist put issues in perspective:
As you’ll be able to see, there are many advantages that include matching items. They encourage donors to offer to your group whereas additionally boosting the preliminary reward quantities.
8. Why aren’t extra nonprofits utilizing matching items?
It seems, a lot of the time, each nonprofits and donors don’t find out about matching items. And that results in vital quantities of accessible income being left on the desk.
For nonprofits, causes embody a scarcity of workers, sources, and time wanted to zero in on matching reward income. Many occasions, organizations don’t know who a donor’s employer is or what their matching reward coverage is, so that they’re not of a lot help all through the donor expertise. To not point out, guide follow-ups would require an funding of sources that many organizations merely lack.
For donors, in the meantime, most don’t even know that their firm affords an identical reward program. Moreover, the method of getting their donation matched could seem method too sophisticated or unclear to get began with, particularly with out correct steerage.
The end result? Approximately $4-$7 billion in matching gift funds goes unclaimed yearly. That’s cash that may very well be reinvested into nonprofits to assist help their operations and unfold their missions. However fortuitously, fixing for these points is straightforward with a devoted technique and the instruments to again it up.
9. Which corporations supply matching items?
Excellent news: There are extra corporations that match donations than you might assume.
Among the top matching gift companies embody Microsoft, Apple, Google, Dwelling Depot, and Disney. Actually, 65% of the Fortune 500 have reported providing matching reward packages for his or her employers. Many of those corporations supply excessive most match limits and match donations to most varieties of nonprofits.
For instance:
- Microsoft matches as much as $15,000 in donations to most nonprofits at a 1:1 ratio for full- and part-time workers.
- Disney matches as much as $25,000 in donations to most nonprofits at a 1:1 ratio for full- and part-time workers.
- Apple matches as much as $10,000 in donations to most nonprofits at a 1:1 ratio for full- and part-time workers.
Nonetheless, that is solely a snapshot of the various matching reward corporations on the market. And it’s not simply massive companies handing out cash, both. These corporations vary in measurement and tips, which is why it’s important that you simply perceive the place your donors work (and whether or not they qualify for the packages) to get in on this funding supply.
10. How do I get management help for matching items?
Usually, step one in rallying your group round matching items is focusing consideration on getting management help. With out backing from management, it might be more difficult to get the remainder of your workers on board within the first place.
At the start, it is advisable to assist management see the worth in matching items. This momentum will then trickle all the way down to the remainder of your workers. Double the Donation outlines effective ways to get your management on board with matching items. These embody:
- Utilizing inside information. Quite than speaking in regards to the worth of matching items, present the impression they’ll have in your group via information. Spotlight details about your variety of match-eligible donations versus precise submitted matches, complete income raised from matching items, and the variety of donors who work for matching reward corporations.
- Spending time growing a method. Take a number of hours a month to develop your matching reward technique, after which encourage your management to do the identical. This manner, you’ll make your methods much more efficient.
- Holding brief conferences with management. Schedule brief, 15-minute conferences that respect your management group’s time however nonetheless let you show the worth of matching items. Clarify the fundamentals of matching items, their impression, and their advantages. Then, schedule future conferences to report again in your progress and development.
When your management is on board together with your matching reward plan, your whole group shall be extra keen to work towards your matching reward targets. Get them excited in regards to the prospect of a substantial income enhance, and you’ll want to showcase how leveraging matching items successfully can get you there.
11. How can I educate my group about matching items?
Subsequent, it’s time to get the remainder of your group on board. Sadly, many nonprofits don’t spend time educating their workers about matching reward packages. That is very true for organizations that don’t notice the impression matching items can have on their income.
That’s why we’ve rounded up some efficient steps that you may take to get your group up to the mark:
- Goal the suitable workers members. This consists of workers members who’re answerable for campaigns and occasions, funds, marketing, and extra. For instance, marketing campaign and occasion organizers can promote matching items of their communications with attendees, whereas finance workers can observe and report on matching reward income. Your advertising group can then promote matching items throughout all communications.
- Present academic sources. Provide academic sources (Double the Donation offers a number of great ones without spending a dime or low value) to teach your group about matching items so that they’re extra receptive to the knowledge. This manner, they’ll know what there may be to find out about matching items and may reply questions from donors as they come up.
- Make matching items a part of onboarding. Practice new group members on the matching reward course of so that they find out about them from the outset. You can too give out one-pagers, arrange calls or conferences, and attend webinars to assist educate all present workers. Double the Donation’s Matching Gift Academy generally is a nice asset for this, too!
Educating your new workers members and giving these refreshers to your whole group will assist make matching items simpler throughout your group. Be sure you supply useful sources that they’ll entry and supply coaching so that they’re able to deal with something matching gift-related that comes throughout their desk.
12. How can my group promote matching items?
We’ve made it clear {that a} ignorance is a giant difficulty in terms of matching items. So, how can your group market matching gifts to your donors?
We’ll cowl a few of the high advertising strategies under!
Google Advert Grants
Do you know Google affords eligible nonprofits $10,000 in month-to-month advert credit to advertise their web sites? The Google Advert Grant is a good advertising device for selling matching items.
Because the Google Ad Grant program requires you to arrange advert campaigns with particular targets, you’ll be able to create a marketing campaign for selling matching items. Then, you’ll be able to create adverts directing customers to your matching reward web page to encourage them to take part.
At Getting Consideration, we’re dedicated to serving to nonprofits navigate Google Advert Grants, from figuring out program eligibility to managing advert campaigns. We’d be completely satisfied to consult with you to find out how we will greatest serve your Google Advert Grant wants.
Electronic mail Outreach
Electronic mail outreach can take a number of totally different kinds: affirmation emails, newsletters, thank-you letters, and extra. Once you ship out most of these messages, it’s essential to say matching items for the most effective outcomes.
Right here’s some textual content you’ll be able to embody in your thank-you electronic mail after a donor has contributed to your trigger:
Thanks for supporting our group! Do you know that many corporations match their workers’ donations to our nonprofit? Examine your eligibility and entry the suitable kinds and directions to submit a match in the present day.
You possibly can even embody a hyperlink to be taught extra about matching items inside your electronic mail!
Social Media
In case your nonprofit has a robust social media presence or is within the technique of constructing one, benefit from post-scheduling instruments to submit about matching items all year long.
Social media impacts donors—actually, 32% of donors who give online say that social media is the channel that the majority conjures up them to offer. Whether or not you’re utilizing Fb, Twitter, Instagram, TikTok, or different platforms, you’ll want to embody hyperlinks that direct supporters to the knowledge they’ll have to submit a match request to their employer.
Double the Donation even gives its customers with free, customizable social media marketing templates inside the platform that can assist you get began!
Donation Web page
When supporters are already in your donation web page, which means they’re severe about donating to your trigger. Since donors are most engaged at this step, that is the proper time to advertise matching items.
All it is advisable to do is immediate every donor to supply their employer’s identify straight inside your donation type as they provide—both with an optionally available freeform textual content subject or utilizing a devoted matching gift search tool. From there, you should use your matching reward database to display screen donor data for matchable transactions!
Devoted Matching Present Web page
By making a dedicated matching gift page, you’ll be able to present donors with basic academic details about matching items, in addition to company-specific matching reward kinds, tips, and directions.
Having a selected web page that homes the entire data donors want will make it simpler for supporters to submit a match request. You can ship donors there via social media posts, emails, and different varieties of communication.
Matching Present Search Software
By investing in matching reward software program that provides entry to a matching gift database, you’ll hand-deliver donors up to date and complete details about their employer’s matching reward tips and kinds. For the most effective outcomes, this device may be embedded in your donation kinds, affirmation pages, Methods to Give pages, and extra!
13. What’s an identical reward database?
Talking of embedding an identical reward search device, making the funding in matching reward software program can present simply the increase it is advisable to drive these match-eligible donations to completion. Extra particularly, a matching gift database may give you entry to details about hundreds of firm matching reward packages.
How does an identical reward database work?
An identical reward database is definitely accessible by way of a search device plugin. This plugin can go anyplace in your web site, together with donation kinds and devoted matching reward pages, and permits donors to seek for their eligibility in seconds.
Right here’s the way it works:
- The donor accesses the search device in your web site.
- The donor sorts their employer’s identify into the search device.
- The search device then populates with details about their employer’s matching reward program.
Sounds nice, proper? If you happen to’re searching for efficient matching reward software program, we advocate checking out Double the Donation, the main supplier of matching reward instruments. In any case, Double the Donation affords a strong matching reward automation device that empowers donors to entry Double the Donation’s complete matching reward database. This useful resource homes data on greater than 24,000 corporations and subsidiaries and their matching reward packages, making it simpler than ever to find the suitable information whenever you (or your donors) want it.
Double the Donation Matching additionally scans data donors present in the course of the donation course of, determines their matching reward eligibility, and triggers automated emails that define the subsequent steps particular to the donor. Plus, Double the Donation Matching integrates with greater than 100 of the main nonprofit CRMs, peer-to-peer fundraising software, and donation software program, so it’s a wonderful selection should you’re already utilizing a number of of these instruments.
14. How ought to I handle matching items with a number of chapters or associates?
For a lot of organizations, encouraging matching items means retaining observe of your donors’ employers and having a set course of in place for outreach. Nonetheless, bigger organizations which have a number of chapters or associates could run into points when managing matching items.
For the most effective outcomes, most of these organizations ought to consolidate their matching reward course of. In accordance with Double the Donation’s complete guide for chapters and affiliates, consolidation signifies that every unit will comply with a central course of to safe matching items.
Listed here are some high tips about how you are able to do this:
- Select the way you’ll consolidate. Whether or not that is on a nationwide stage, a regional stage, or impartial by chapters, you’ll need to base this determination on how constant you need your donor expertise to be and the way you need reporting to happen.
- Develop an motion plan. Your motion plan ought to embody understanding your present course of, placing collectively an identical reward group, optimizing the verification course of, and figuring out your income targets.
- Standardize the follow-up course of. Set clear tips to make sure particular person chapters are figuring out and following up with match-eligible donors. This manner, you’ll be able to proceed the dialog round matching items and create a extra constant donor expertise.
These methods could make a large distinction in case your group runs in a number of areas. A constant course of will assist your groups keep away from lacking out on matching reward alternatives and create particular tips every unit ought to comply with, all whereas offering a extra seamless donor expertise.
15. Are matching items the one sort of company giving?
Along with matching items, there are lots of different varieties of company philanthropy. From financial grants for volunteer hours to occasion sponsorships and extra, listed below are a few of the high corporate giving programs:
Volunteer Grants
Often known as “{Dollars} for Doers” packages, volunteer grants are a kind of company philanthropy during which corporations present financial grants to organizations the place their workers usually volunteer.
Right here’s how volunteer grants work:
- A person volunteers with a nonprofit.
- The person tracks their hours and submits a request for a volunteer grant with their firm.
- The corporate verifies the hours with the nonprofit.
- The corporate gives a verify to the nonprofit.
If you have already got a devoted group of volunteers, encourage them to verify their eligibility for a volunteer grant. You may be capable of get some further company {dollars} this manner.
Volunteer Time Off
Volunteer Time Off (or VTO) is a kind of company giving program during which corporations present workers with paid day off to volunteer with nonprofit organizations. In contrast to conventional PTO used for holidays or private days, VTO permits workers to offer again to their communities with out sacrificing their wage or work hours.
When correctly utilized, VTO can turn out to be a win-win for each companies and nonprofits. Workers get to make a distinction with out monetary obstacles, corporations construct stronger group connections, and nonprofits acquire precious volunteer help to additional their mission.
Fundraising Matches
Fundraising matches are much like matching items in that donations are matched by an organization.
The distinction?
Fundraising matches apply to fundraising occasions, like walk-a-thons or 5Ks. The participant’s employer will then match the cash the participant raises (moderately than offers straight) via sponsorships or different donations.
Computerized Payroll Deductions
One of many easiest types of company giving is automatic payroll deductions. By this company giving program, workers have a portion of their paychecks donated to a nonprofit regularly.
Particular corporations could have tips on which organizations they’ll donate to. Usually, the group has to share related values with the corporate, like environmental causes or different points. As soon as your group has been authorised, this can be a nice supply of recurring donations.
In-Type Donations
Many corporations donate extra than simply cash to nonprofits. Some additionally present in-kind donations, which suggests items or companies. To provide you an instance, an organization may donate computer systems, consulting companies, and even meals to organizations.
In-kind donations not solely profit nonprofits but additionally give corporations a way of delight in serving to a worthy trigger.
Sponsorships
One of the impactful types of company giving is sponsorships, the place companies present monetary or different help to nonprofits in trade for recognition, branding alternatives, or group goodwill.
Sponsorships typically type mutually helpful partnerships—corporations acquire visibility and improve their company social accountability efforts, whereas nonprofits obtain important funding or sources to additional their missions.
16. The place can I be taught extra about matching items?
Now that we’ve answered the commonest matching reward questions, it is best to have a deeper understanding of what matching items are. Now you can begin encouraging participation out of your supporters and watch as your donation income will increase exponentially.
If you happen to want some extra details about matching items earlier than you get began, we’ve compiled some useful sources under:
