As Q4 continues, many nonprofits out there are trying to solidify year-end connections with corporations that can help their cause. We’ve gone over the benefits and practices of corporate philanthropy for nonprofits in our previous blogs. But today, we’d like to provide a closer look into how your nonprofit can actually find these corporate donors.
Much like Giving Tuesday, corporate giving programs are a way for companies of all sizes to invest in social good. This kind of business relationship is often in the best interest of nonprofits and corporations alike. However, the first step your nonprofit must take to enjoy the benefits of corporate giving is figuring out how to find corporate donors who want to work with you.
Two Key Types of Corporate Giving
Need a refresher on exactly what corporate giving is? In the first installment of our corporate philanthropy blog series, we went over two key types of corporate giving: matching gifts and volunteer grants. For a quick recap, here’s a summary of what these two donation types look like in practice.
Matching Gifts
In gift-matching promotions, companies financially match whatever donations that their employees make to nonprofit organizations. In this way, nonprofits can receive twice as many donations as they normally would. The common ratio for this is 1:1 but some companies will match at 2:1, 3:1, or even 4:1.
Volunteer Grants
Volunteer grants are a pretty important corporate giving program because they provide extra support to nonprofits as a result of their company’s established volunteers. Not to mention that the benefit is twofold: first, with extra resources in the form of volunteers and then in the form of the volunteer grant funds themselves.
Volunteer grants come in two forms: a monetary donation for every hour an employee volunteers or a set grant amount once employees have volunteered a certain amount of time. Companies that offer volunteer grants typically provide grants to one nonprofit per employee per year.
Looking for even more examples of corporate giving practices? Visit the second installment of our corporate giving blog series here.
How to Find Corporate Donors as a Nonprofit
With so many reasons why nonprofit partnerships are such a win for corporations, receiving donations from them should be a piece of cake, right? If only it were that simple. If only your noble pursuit to do good was enough to make the resources flow in! But alas, there is work to be done if you want to get noticed by corporations that are open to giving.
Community Outreach
The good news is that there are ways to get this ball rolling and put yourself out there. First and foremost, community connections are paramount. Being known in your local community for your cause will encourage people to take an interest in you. Then, they might decide to invest their time and effort into seeing your mission succeed.
You can leverage community outreach to find corporate donors in a few ways. Attending relevant local events where you can showcase your mission is a great place to start. Otherwise, simple networking among other successful nonprofit or corporate leaders can get you further than you might expect. Now is not the time to be a wallflower, so get out there and mingle!
Good Timing
That said, timing is also critical to finding corporate partners for your nonprofit. As we know, most businesses are currently in their 4th quarter of the fiscal year. Thus, corporations are hard at work creating their annual budgets and looking for any Q4 deductions to satisfy tax expectations. This is also the time when you usually see a mad scramble on the part of nonprofits to get those business partnerships in place once those budgets are set. Understandable, right?
But the downside to waiting until Q4 is well underway is that EVERYONE is looking for these partnerships at the end of the year! While this can mean having an opportunity to network with more corporations than you might usually have access to, it also means that there will be a lot of other nonprofits trying to do the same thing.
Instead of trying to vie for attention against a wave of eager nonprofits, start reaching out early. Get out there and get noticed ahead of your competition. Your chances for success in creating corporate partnerships will increase by several degrees. Waiting only serves to bolster the chances of your competition succeeding in your place, and you don’t want to let that happen.
Effective Marketing
As with any goal your nonprofit is working toward, implementing a marketing strategy to attract and retain corporate donors is crucial for your success. After all, what is the purpose of good marketing if not to further your cause?
If you’re looking to catch the eye of companies in search of nonprofits to support, you need to make sure that your nonprofit’s branding is top-notch. Take a look at your social media pages, your website – anything that potential corporate donors might also be scrolling through. This is how they decide if your mission is worth their money and time.
If companies don’t know that your nonprofit exists, don’t understand your cause, or worse, don’t think that you are deserving of their resources, it’s probably time to make some changes to your marketing efforts. And, doing so doesn’t just help you attract more corporate giving. Effective marketing will also support your long-term success as an organization.
For more tips, visit our 5 Essential Elements of Building a Brand blog to learn how you can create a high-quality brand that sticks.
Shared Values with Corporate Donors
Finally, keep in mind that not every potential partner is going to be a match. It’s important to seek out the right companies – those that align with your values. Every company has its own identity, priorities, and goals. Your chance at success will be higher if their values align with yours. Digging into company values will provide a better picture of who you’re spending your efforts on. You can assess alignment in the following areas:
Final Thoughts on How to Find Corporate Donors
To sum it up, in order for your nonprofit to benefit from corporate giving, you’ll need to put some decent effort into finding companies that are willing to help. This will probably involve stepping out of your comfort zone. You may also have to make some significant changes to how you market your nonprofit.
Keep in mind, too, that it might take a little while to make the kinds of meaningful connections you’re looking for. But don’t give up! Corporate giving is an ideal way for your nonprofit team to get the resources you need.
Want to learn more tips and tricks to help your nonprofit thrive? Visit our website to stay in the loop! New blogs and guides are posted every month.
