As a nonprofit, there are many ways you can raise money. From traditional methods like special events and annual campaigns to more technological strategies like give-by-text and crowdfunding.
While you may be familiar with those don’t overlook corporate giving. According to Giving USA 2018, giving by corporations grew by 8 percent over the previous year, totaling $20.7 billion.
Many companies create corporate giving programs as a way to give back to their local communities, increase employee engagement, and foster meaningful partnerships with nonprofits.
But how you approach a corporation matter. Here, we go over five tips on how your nonprofit should approach corporate giving.
- Choose the right partner
- Prepare a value proposal
- Consider In-kind Donations
- Create a campaign and toolkit ahead of time
- Build a relationship
Corporate Giving Tip #1: Choose the Right Partner
Make sure you seek out a corporation that aligns with your mission and core values. To illustrate, many companies partner with Boys & Girls Club, the organization dedicated to providing hope and opportunity to all youth. Microsoft, Best Buy, and Ross are just a couple of the nonprofit’s partners. They all have in common support for youth education services.
In addition to looking for corporations that align with your mission and core values, your first targets should be reaching out to local businesses and corporations. It is easier to build personal ties with a local corporation. They would understand the publicity and benefits a partnership could provide in their community.
Corporate Giving Tip #2: Prepare a Value Proposal
When working with a corporation you must show the value of your nonprofit partnering with their company. This cannot just be about social impact. Corporations need to know how they will impact the community. Will their contribution garner them positive publicity? How will their logo be used? Etc.
Corporate Giving Tip #3: Consider In-Kind Donations
We all like money. But sometimes corporations can make nonmonetary gifts as well. In fact, many corporations opt to give in-kind support, like donated goods, services, staff expertise, or any other contribution that isn’t cash. This type of contribution helps to fulfill their philanthropic values, fuel the nonprofit’s mission, and engage their employees.
Asking for in-kind support is a good way to begin a relationship with a corporate partner. In-kind support can also have a positive impact on your nonprofit’s budget.
For instance, consider a partnership with a printing company. Imagine if this company prints your annual report, direct mail pieces, and newsletters. These are items that you don’t have to budget for, and these are items that help you market and raise money. It’s a win-win.
Corporate Giving Tip #4: Create a Campaign and Toolkit Ahead of Time
Many companies want to empower employees to give back, But, employers, due to a lack of time often struggle with administering a corporate giving campaign effectively. This presents a unique opportunity for nonprofits. You can make it easier for the employers to administer and execute a partner campaign by creating the campaign and a toolkit for them.
A corporate giving toolkit should include:
- Sample social media posts
- Email appeal templates
- Posters and flyers
- Partnership talking points
- Photos from your fieldwork
- Video testimonials by beneficiaries or volunteers
- A personal message from your staff or board member
- Suggestions for campaign hashtags to track social media engagement
Corporate Tip #5 Build A Relationship
Most importantly, we cannot forget that corporations are people too! People give to people; you have to build a relationship with them as well. Don’t ask for money right away. Set up a meeting with the person in charge of giving and start a conversation. Get to know them and learn what their needs are and align your proposal with their company’s core principles.
With these tips, any nonprofit can be apart of a corporate giving program.
If you don’t believe me check out this interview with Abraham Quiroga, Business & Employee Development Division Manager for Magic Valley Electric Cooperative discussing corporate giving.
I hope this helps. Your feedback is appreciated.
If you are a CEO or ED of a nonprofit organization and want to learn from me and others join the Supporting World Hope Facebook Group.