Don't forget the match: corporate and matching gifts should not be overlooked
Your organization and other nonprofits may still be reeling from the news that charitable giving took a hit in 2022. You've also no doubt been watching the markets rally off and on this year and kept your fingers crossed that inflation may have abated somewhat. Given these headwinds, most certainly your development team is laser-focused on cultivating individual and family donors for both year-end gifts as well as for long-term support, including encouraging donors to support your organization's agency or endowment fund at the community foundation.
As you gear up for holiday season giving campaigns, don't forget about corporate giving and matching gifts programs. Although corporate giving was down in 2022 when adjusted for inflation right along with the rest of giving, it's nevertheless a category that should not be overlooked. Especially with corporate downsizing and some headquarters moving across state lines, you'll want to keep the dialogue going with business leaders and associates of large employers in our region.
Ask individual donors whether their year-end gift might be eligible for a corporate match. Many employees are not even aware that their company offers a matching gifts program. Encourage your donors to investigate and tap into this benefit. Mentioning matching gifts programs in your letters, emails, and social posts will help ensure that your year-end communications aren't inadvertently causing you to miss out on corporate and employee giving to your organization.
Given the overall decline in giving, the potential of matching gifts is perhaps, well, unmatched. Nearly 80 percent of the 26 million individuals working for a company with a matching gifts program are either unaware of their company's match or lack specific information; 84 percent of donors are more likely to donate when a match is offered; and 33 percent would give more knowing that a gift would be matched and doubled. That's a lot of potential to grow your annual fund or boost the assets in your endowment fund at the community foundation.
This article is not intended as legal, accounting, or financial planning advice.