In our last blog, we went over the basics of corporate philanthropy for nonprofits: what it is, how it benefits all parties involved, and a few examples of corporate philanthropy practices.
For the second installment of our corporate philanthropy blog, we want to get into some more specific corporate philanthropy practices and how you can use them to benefit your nonprofit the most. As a refresher, the most used corporate philanthropy strategies for nonprofits are matching gifts and volunteer grants, but there are plenty of other corporate philanthropy practices that you can try.
If you missed Part 1, read it here!
Now let’s get into a few more examples of this lucrative fundraising tactic.
Online Programs
A super easy way to get started in utilizing corporate philanthropy practices, especially if your nonprofit is smaller or just getting started, is participating in online corporate donation programs. A couple examples of these that you may have heard of already are Target Circle Community Giving, Walmart Spark Good and Facebook Fundraisers.
Target Circle Community Giving
Target has a unique, voting-based fundraising program that members of their rewards program, Target Circle, can participate in for free.
The gist of this program is as follows: Target Circle members receive one “vote” for every trip they make to Target. They are then invited to vote for nonprofits of their choosing across the country, and at the end of each voting period (every three months), Target awards grants to the participating nonprofits based on how many votes they received.
Nonprofits interested in taking part in this program must apply to be featured in their communities.
Walmart Spark Good
Walmart Spark Good is similar to Target’s giving program, as it invites Walmart customers to take part in giving. However, instead of voting for nonprofits to receive funds, customers can either round up the change from their purchases to be donated to local organizations, or they can choose to donate needed items to nonprofits from their Spark Good registries.
Facebook Fundraisers
Facebook Fundraisers are slightly different than Target and Walmart’s giving programs in that they focus more on community donations than corporate donations.
Facebook allows individuals and organizations, including nonprofits, to start fundraising campaigns for a specific cause, and Facebook users can make donations to their selected nonprofit through the social media platform. Nonprofits are given several options for how to present their fundraising campaign, including organic and paid posts, along with reels and live videos, that usually include a “Donate” button.
This article provides a lot of helpful details for a more in-depth look at how exactly this program works.
There are many other rewards program potentials for nonprofits to get on board with depending on your supporter demographics. And remember, offering a variety of options to your supporters can only help your organization in the long term! Take a look at Safeway’s Community Giving Card, Fred Meyer’s Community Rewards, or the Hagen Family Foundation for some additional options to look into.
Corporate Sponsorships
If your nonprofit hosts events or takes on other projects that require a lot of resources, financial or otherwise, corporate sponsorships can also be a big help in gathering what you need.
There are a few ways that corporate sponsorships can look for nonprofits. Today we’ll go over financial contributions and in-kind donations.
Financial Donations
In terms of event sponsorship, corporate financial donations often entail companies becoming “sponsors” of a nonprofit’s event: providing a portion of the needed funds in exchange for the nonprofit recognizing them as a sponsor.
Sponsor recognition is usually in event signage, online advertising like social media, and even on event programs and merchandise like t-shirts or other commemorative items.
In-Kind Donations
In-kind donations are also typically related to sponsoring events, but is different in that it involves companies donating services or goods to a nonprofit instead of funds.
This can take the form of an event auction with donated experiences or items, or something more directly involved in the actual event, such as providing catering, running or providing the provisions for a booth, etc.
Corporate Partnership Programs
To put it simply, a corporate partnership is a longer-term, mutually beneficial relationship between a company and a nonprofit. This can often encompass many other aspects of corporate philanthropy.
There are a few key components of corporate partnerships, including:
- Shared goal(s)
- A commitment of time and/or resources
- Benefits for both parties
Finding a corporate partner will almost always involve putting your nonprofit “out there” in some way. The first step would be to research the kinds of companies you’d think would be most beneficial for your nonprofit to partner with in the long term.
After that, you’ll have to reach out to these corporations and see if they’d be interested in forming a partnership. And try not to be shy – you never know what kinds of businesses will be open to partnering with you until you ask!
Final Thoughts
As a nonprofit, finding the money you need to carry out your mission and achieve your goals can be daunting to think about. However, there are so many options out there that can be extremely helpful, especially if you persist!
Corporate philanthropy is arguably the nonprofit fundraising strategy with the highest chance of success. More often than not, companies are actively looking for nonprofits and causes to support, so don’t be afraid to advocate for yourself and your organization.
Here at KSR, working with nonprofits is one of our greatest passions. If you have questions about how your nonprofit could utilize corporate philanthropy practices, reach out to us today!
