Did you know that employers offer a matching program to encourage philanthropy among their employees? Do you match? To find out more, ask your human resources department about your matching program.
When an employee donates, they’ll request the matching gift from their employer, who then makes their own donation. Companies usually match donations at a 1:1 ratio, but some will match at a 2:1, 3:1, or even a 4:1 ratio. Ask your Human Resources if your company matches.
Why are corporate matching gifts valuable?
Corporate philanthropy and matching gifts are valuable because they are free money for your nonprofit! It gives you more bang for your fundraising buck, so to speak. Your organization will receive two donations for the work of soliciting one, and donors love knowing their gifts went twice as far.
Why do companies match donations?
Companies of all sizes match donations their employees make to nonprofits because it’s an easy, structured way for them to support good work in their communities. CSR, or corporate social responsibility, is an important factor in how the public perceives brands and companies these days.
Corporate matching gifts are an efficient and straightforward way for companies to build relationships with charities.
Taking Advantage of Your Employee Match
Employee match programs require a small amount of effort to engage, but the work will pay off for the nonprofits you choose to support. Here is how you can make the most of your employee match program.
– Step one: Learn the rules. Some companies have a preferred list of charities they partner with, while others match gifts to any charity an employee may support. The match likely has an annual limit. If you don’t know how your company’s match program works, contact your Human Resources department today! Don’t forget to ask if they allow employees to volunteer their time with local charities. Some companies offer paid time off to staff when they volunteer with an organization in their community.
– Step two: Make your donation. Within the guidelines your company provides, select a charity. Be sure to keep proof of your gift or volunteer time, which may require providing contact information for a receipt.
– Step three: Dot the i’s and cross the t’s. Typically, companies only need a receipt as proof of contribution and a single form requesting that they match the donation. Provide these (and any other required materials) promptly to the appropriate personnel at your company, likely the Human Resources department or Corporate Social Responsibility (CSR) team. Confirm that the match was made.
Don’t leave money for social good on the table! Take advantage of your employee match program this year and every year.