Online fundraising has changed a lot in the past year and nonprofits are looking to stay at the top of their fundraising game. With so many different tools and strategies available, it can be hard to decide what direction to go in. Employer gift matching is an underexplored fundraising avenue that can make a big difference for your organization. Gift matching programs can be a huge revenue booster, but matching gifts can seem elusive and confusing if you aren’t familiar with them.
In order to take advantage of matching gifts, you need a better understanding of how they work. So welcome to Employer Gift Matching 101! We will be covering the matching gift basics: what gift matching is, why matching gifts are important, and how your organization can start raising more money with matching gifts.
Once you know the basics, you’ll be ready to take your organization’s fundraising to the next level with employer gift matching. So, let’s jump in!
What is Employer Gift Matching?
Employer gift matching is a type of corporate philanthropy in which companies agree to match their employee’s charitable donations to a nonprofit organization or educational institution. Each matching gift program is unique, but companies may match their employee’s donations at a 1:1, 2:1, or even 3:1 ratio!
Employer gift matching programs are pretty common, but they are widely underutilized by nonprofits. Over 18 million individuals work at companies that offer a gift matching program, but the majority of employees don’t know whether or not they qualify for matching gifts. This donor awareness gap leads to 4 to 7 billion dollars in matching gift funds going unclaimed each year. Just think of what a difference that would make for your organization!
Why Are Matching Gifts Important?
Now, you might be wondering why your organization should take advantage of matching gift programs. The reality is that utilizing matching gifts can be a game-changer for your organization. First and foremost, matching gifts can provide your organization with extra revenue without taking up any extra time or effort on your part.
Your donors are already passionate about your mission and would likely jump at the chance to double (or even triple) their donation amount. In fact, 1 in 3 donors say they would make a larger donation if they know a match is offered! Matching gift programs enable you to bring in an entirely new stream of revenue without having to bring in an entirely new stream of donors.
Another benefit to matching gifts is that they are widespread and available year-round! Eligibility requirements differ by program, but the majority of nonprofit organizations and educational institutions qualify for most matching gift programs. With the exception of political campaigns and a few religious institutions, chances are your organization qualifies for matching gifts. These programs can help you grow your revenue and save your staff time and effort, so let’s find out how to take advantage of them.
How Can You Raise More with Matching Gifts?
Now that you know everything that matching gifts can do for your organization, you are probably wondering how to get started collecting these funds. The best approach is to inform donors about matching gifts, provide them with clear steps to complete a gift match, and follow up with them throughout the process.
- Inform Donors
The biggest barrier to matching gifts is donor awareness, but the good news is that you can tackle this head on by marketing matching gifts wherever possible. 84% of donors say they are more likely to donate if they know a match is offered, so incorporating matching gifts throughout your fundraising is crucial. You can include a matching gift section on your donation pages, confirmation screens, ways to give pages, and so on to encourage donors to check their match eligibility and drive revenue for your organization.
- Provide Clear Next Steps
Once the donor knows about matching gifts, you want to make it as straightforward as possible for them to complete that match. Provide clear, guided next steps on how to submit a matching gift request in order to increase the likelihood of your organization receiving those match dollars. If you incorporate next steps into the donation flow, you encourage the donor to complete the match when they are already in the giving mindset.
- Follow Up
After the donation has been completed, utilize a follow-up cadence to ensure that no matches were missed. These follow-ups can be beneficial for donors who give offline as well. Donors are busy people and may miss the initial matching gift information. Follow-up emails provide them with a second chance to double their donation.
The best way to incorporate these steps into your existing fundraising strategy is to make use of a gift matching automation platform, like 360MatchPro by Double the Donation. 360MatchPro easily integrates into FlexFormz donation pages to provide donors with a streamlined way to access matching gift program information without interrupting the donation flow.
Now that you know all the basics of matching gifts, you are ready to fundraise like a pro! Remember to inform your donors wherever possible, provide clear next steps, and send follow-ups to make the most of employer matching gifts.
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.