Over 26 million Americans work for companies that match at least part of employees’ charitable donations. Software company Double the Donation has found that this includes at least 65% of Fortune 500 companies. Of those employers, 91% match donations at a 1:1 ratio. Not surprisingly, workers consistently report they’re more likely to make charitable contributions — and larger ones — if their employers provide matches.
Matching gifts offer a major opportunity to meet or even exceed your organization’s ambitious goals. Here’s how to encourage and collect matching gifts.
Proactive approaches
Most matching programs are managed by HR departments, which provide employees with matching gift forms. Typically, employers send completed forms, along with matched donations, to the charities employees have chosen. Dollar-for-dollar matching is most common among participating businesses, but some companies offer more, others less. Many employers match donations to any not-for-profit, but some are more restrictive.
Don’t just hope matching donations will roll in. Encourage matching by drawing up a list of employers in your area that offer incentives for employees to give. Typically, you can find this information in annual reports, on company websites or by calling companies’ HR, PR or community relations departments. If a company operates a foundation, its matching program may run through that entity.
Once you have a comprehensive and accurate list, post it on your website’s donation page. Also use the list to reach out to existing donors you know work for those companies. All of your not-for-profit’s solicitations should encourage supporters to check with their employers about the availability of matching.
Automated solutions now exist to help not-for-profits identify donations eligible for a match. Donors themselves can use these solutions to determine whether their employers will match their gifts. Then, after your not-for-profit receives a donation, matching gift software can submit paperwork to participating companies.
Pooling efforts
If, despite your not-for-profit’s best efforts, matching gifts only occasionally trickle in, consider creating your own matching pool. Ask board members and major donors to match contributions during a limited time period, for certain populations or for a minimum donation amount. For instance, your board might match all donations from new contributors in February or a major donor might commit to match gifts made at your annual gala.
Also keep in mind that some charitable foundations will match gifts to jump-start a fundraising effort or major campaign. Such an arrangement could be easier to set up than securing a large employer to donate to your organization.
Don’t miss out
Double the Donation estimates that between $4 billion and $7 billion in matching gifts goes unclaimed every year. Don’t leave money on the table! Educate donors and corporate givers and be persistent. If you don’t receive a matching donation, send reminders. Contact us for more ideas about boosting your not-for-profit’s revenue.
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