How do matching gift programs work? Every nonprofit has the same question when they first hear about this revenue-boosting tactic to fundraise. This guide will help you get started right away with expert insights, tips, and FAQs. Keep reading!
In fundraising, there are plenty of strategies nonprofits use to increase revenue. There are peer-to-peer campaigns, special events, and of course that holiday season push. But what about the rest of the year?
Here at Donorbox, we want to help you with fundraising year-round.
Matching gifts are not seasonal. They are not only available for a limited time. Of all the nonprofit funding sources out there, organizations should definitely leverage a matching gift program to boost revenue every day of the year!
But what are matching gifts, you ask?
Matching gifts are a type of giving program that is set up by companies and corporations as an employee benefit. After an employee donates to a nonprofit, they can submit a matching gift request to their employer and the company will make an additional donation to that nonprofit.
Though every matching gift program is unique to the company, every set of guidelines is sure to include the same elements:
These are the key pieces to every matching gift program. As you become more familiar with matching gift programs, you will see these terms and phrases over and over again. Now you’re an expert!
Bonus Resource: 10 Steps to Get Donations from Companies to Your Nonprofit.
As you navigate the world of matching gifts, there are certain programs to keep an eye out for. These companies (along with many others) are very committed to matching gifts. Let’s talk about a few of these programs and what makes them special.
These are just a few of the exceptional matching gift programs out there. As you expand your matching gift fundraising, keep an eye out for these programs, and make sure to follow-up with those employees. There is $4-7 billion in matching gift revenue left on the table each year, and all you have to do is ask for it.
Here are some of the top matching gift companies & their respective programs:
| Matching Gift Company | Match Ratio | Maximum Match Amount |
|---|---|---|
| Johnson & Johnson | Up to 2:1 | $20,000 |
| CarMax | 1:1 | $10,000 |
| ExxonMobil | Up to 3:1 | $22,500 |
| State Street Corporation | 1:1 | $35,000 |
| Gap Corporation | 1:1 | $10,000 |
| BP (British Petroleum) | 1:1 | $5,000 |
| Soros Fund Management | Up to 3:1 | $300,000 |
| General Electric | 1:1 | $5,000 |
Source:- Top Matching Gift Companies: Leaders in Philanthropy
Though each program is unique, the steps for collecting matching gifts are quite uniform. The process consists of the following five steps:
The process is really quite simple and quick. The most vital step of the process is getting donors to submit their matching gift requests; an organization must do everything it can to encourage a donor to submit that matching gift request to their employer.
Now comes the most valuable part of the article: we will tell you exactly what you can do to increase your matching gift revenue.
The biggest hurdle to collecting matching gift revenue is a lack of donor awareness. Not only do donors not know if they are eligible for matching gift programs, but they also don’t even know what matching gifts are.
A donor is more likely to submit a matching gift request if you simplify the process for them. Double the Donation has created a search tool that allows donors to search through an extensive matching gift database of more than 20,000 companies and subsidiaries to find if their employer offers gift matching.
Marketing matching gifts is the single most crucial action an organization can take toward increasing matching gift revenue. And with matching gift revenue basically being free money, it’s hard to come up with reasons not to take advantage of this.
In short, your organization should mention this giving program wherever you can. A matching gift search tool embedded or linked throughout your website and communications will change the game for you. The long version is broken down below:
The strategies for getting more matching gifts listed above are not mutually exclusive. In fact, you should incorporate as many strategies as you can! You never know which one is going to finally encourage that donor to submit a matching gift request.
You can enable the matching gift feature on your website with just three steps. First, fill out the nonprofit information form in Donorbox. Then, add a billing credit card on your organization’s billing page. Finally, click Enable Donation Matching on the company matching settings page. To know more, refer to How to Enable Company Donation Matching.
A 2:1 match means that for every contribution you make, your company will write a check to the organization for double the amount. For example, if you donate $100, your company will contribute double, i.e., $200 to the organization in the case of a 2:1 match.
Matching gifts motivate giving. It has been statistically proven that they not only increases the size of the gift, but also the rate at which people donate. By matching funds, every dollar contributed will have 2x, 3x, or 4x the impact. This empowers the donor and removes the psychological barrier they may have about the limited size of their giving and its impact.
Gift matching also add a sense of urgency in giving. This is because matching fund campaigns usually happen only once or twice a year. So by telling donors that donating “right now” will give them the ability to double or triple their gifts, you create an urgency to seize the limited-time opportunity.
Some of the ways to promote your matching gift program include:
Gift matching offers too great an opportunity to ignore. You are now an expert on matching gift guidelines, major matching gift programs, the process of getting donations matched, and how to truly boost matching gift revenue by marketing matching gifts.
The Donorbox + Double the Donation integration makes for a seamless donor experience. Once you enable the integration, your donors will be able to search for their employer right on your donation form. They’ll then receive follow-up communication from Double the Donation guiding them through the process of requesting and securing their matching gift.
Learn more in this short video!
https://youtu.be/y6erd_FPsPg?feature=shared
For more fundraising tips and know-how, check out our Nonprofit Blog. Subscribe to our newsletter to receive the best of the blog in your inbox every month.
Adam is the President of Double the Donation, the leading provider of tools for nonprofits to raise more money from corporate matching gifts and volunteer grant programs.
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Adam Weinger