Do you represent a new organization looking to hit the ground running by trying out some fundraising best practices? Part of an established organization seeking a new way to engage and retain your recurring donors through a difficult year? Simply trying to find a way to excite your donor base and refresh your fundraising strategy?
If you answered “yes” to any of these questions, we want you to know about one of the best-kept secrets in the nonprofit sector: corporate matching gifts.
In this article, we’ll walk you through what matching gifts are and what you’re missing, why they’re so important to your organization, and how you can start raising more money in no time.
What are matching gifts?
Matching gifts are a form of corporate philanthropy in which companies contribute money to nonprofits and other organizations by matching the individual donations of their employees.
If a supporter of your organization gives $50, they can submit a request to their company to receive a donation match and make their $50 donation a $100 donation! In fact, some companies match donations at a 2:1, 3:1, or even 4:1 ratio. These matches really add up if you know how to ask for them—especially considering that over 18 million individuals work for companies with matching gift programs!
If matching gift programs are so widespread, why don’t organizations see matches from companies more often?
$4-7 billion in matching gift revenue goes unclaimed each year. That kind of money could make a monumental difference for organizations like yours – imagine the incredible change you could make for the causes your organization cares about! So why isn’t your org seeing gift matching revenue when so much money is set aside for you in the first place?
It’s a simple issue of donor awareness. Even though those 18+ million individuals have the power to get their gift matched, very few donors know that matching gift programs exist in the first place. Of those who do, only a small percentage understand the steps it takes to actually get their donation doubled by their employer.
If your donors knew they could double their impact, they’d surely take the opportunity to make sure that match moves to completion.
Why are matching gifts important for your organization?
It’s no secret that this year has been tough for everyone, and your fundraising/advancement campaigns are no different. While previously your strategy may have involved drawing in new donors, now you may need to rely on your recurring donors and upping your ask. But how do you ask for more money from your supporters without actually requiring them to increase their donation amount?
Luckily for organizations like yours, corporate matching gift programs have stayed strong (and, in some cases, even increased) during the Covid-19 pandemic. These programs have helped boost and bolster fundraising and advancement efforts throughout the year, and are a great way to increase engagement from recurring donors without asking them to increase their individual contributions.
Exploring how you can make more from matching gifts could make all the difference this year and for the years to come!
How to start making more from matching gifts
So we know the what and the why of matching gifts. But what about the how? Since we’ve identified that the number one roadblock to your organization seeing those matches come in is donor awareness, you need to address that first and foremost.
Make sure you’re doing the following when trying to take advantage of matching gifts:
+ Educate and encourage your donors. 84% of donors say they’re more likely to donate if a match is offered. Letting your donors know they may be eligible for a matching gift from their employer during the giving process is key to encouraging them to look into their company matching gift program – and possibly even give a little bit more!
+ Guide your donors to their next steps. Minimizing the number of steps a donor has to go through to get their gift matched maximizes your chances of seeing that match to completion. Make sure donors have a quick and easy path straight from your website to their company’s matching gift request form.
+ Remind your donors to submit their matching gift request. Sometimes donors are in a hurry, or just breeze through the donation process without paying attention to your initial calls to action. Remind them of the opportunity to double their impact via personalized emails, newsletters, or on your “Ways to Give” page.
The easiest and most efficient way to achieve all of the above is to use a matching gift automation software that integrates directly with your donation management software, like 360MatchPro by Double the Donation. 360MatchPro integrates seamlessly with GivingFuel forms to help you raise more from matching gifts by informing your donors of their match eligibility, providing donors with a one-click path to their company’s matching gift request form, and sending out custom email outreach based on your organization’s configuration.
With automation taking care of everything you need to get those matching gifts flowing in, you can rest easy knowing your organization is getting a boost in fundraising revenue without dedicating too much of your time or resources. With the 360MatchPro and GivingFuel integration, matching gift success is right around the corner!
To get started on your matching gift journey, schedule a personalized demo today. Make sure you mention you use GivingFuel when you schedule!
About Double the Donation: Automate your matching gift fundraising with the industry-leading solution from Double the Donation. The 360MatchPro platform provides nonprofits with tools to identify match-eligible donors, drive matches to completion, and gain actionable insights. 360MatchPro integrates directly into donation forms, CRMs, social fundraising software, and other nonprofit technology solutions to capture employment information and follow up appropriately with donors about matching gifts.