Matching Gifts: An Overview
What are matching gifts?
Matching gifts are a type of corporate philanthropy where companies match donations their employees make to eligible nonprofits. They are important because they are essentially free money, but often overlooked by nonprofits.
What is the impact of matching gifts?
Approximately $2-3 billion is donated annually though matching gift programs. However, matching gifts are often overlooked by organizations due to limited information on their donors’ employers, as well as limited resources and time available to devote to securing matching gifts. In fact, an estimated $4-7 billion in matching gift revenue goes unclaimed each year.
How do matching gifts work?
Once an individual makes a donation to a nonprofit, they can determine their match eligibility to see if their employers will match their donation by using a company name search tool, which populates results from a large matching gift database. If they learn their company offers a matching gift program, they can submit a match request to their employer, which the nonprofit will verify, and the company will then issue a check to the nonprofit.
How to Promote Matching Gifts
Because donors are frequently unaware of whether or not their employer (or spouse’s employer) offers a matching gift program, it’s important to effectively promote matching gifts to them. This is where marketing automation comes into play. Your organization’s goal should be to seamlessly present matching gift opportunities to your donors and make it as easy as possible for them to submit a match request.
Matching Gift Statistics
If you take a look at the statistics below, you’ll see why effective marketing is essential.
Only 1.31% of individual contributions are matched at the average nonprofit organization.
This is a result of a lack of awareness and lack of marketing. However, incorporating marketing automation into your organization’s process can significantly boost your matching gift revenue.
84% of donors say they’re more likely to donate if they know their donation will be matched.
This is why marketing is so important. You’re more likely to receive donations from individuals and allow them to maximize their impact if they’re aware of a matching gift program. Leverage marketing automation software to make this step easier.
1 in 3 donors say they would give a larger gift if their donation were matched.
Not only will donors be more likely to give, but they will likely give more if they know they can maximize the ultimate amount of their donation through a corporate matching gift program.
Sending matching gift reminder emails within 24 hours of a donation results in a 53% open rate.
This rate is 2-3 times higher than the average nonprofit email open rate. Taking swift action yields higher results.
Using several different methods to identify match-eligible donors results in 77% more identified match-eligible donations.
The more avenues you take to determine which donors are match eligible, the more likely you are to boost your donation revenue. Matching gift marketing automation can help with this.
Matching Gift Outreach
When it comes to marketing matching gifts, your organization will face several challenges. Sometimes identifying donors who are match eligible is difficult, especially when donors don’t know whether they’re eligible for a match.
Organizations often don’t plan enough outreach or even have enough time to reach out to every donor. Large organizations also have a wide range of roles and individuals, and it can be challenging to coordinate among them.
Here are some effective areas where you can market matching gifts to your supporters:
During the Donation Process
If matching gift opportunities are apparent throughout your donation process, donors will be more likely to consider and submit a matching gift request once they’ve made their gift.
Throughout Your Website
Feature matching gift information throughout your website so your donors can easily locate matching gift forms, guidelines, and instructions for submitting match requests to their employers.
Sending out an email newsletter or direct mail campaign? Encourage supporters to match their donations by promoting matching gifts across your nonprofit’s communications.
Essentially, you can market matching gifts through the following avenues:
Dedicated Matching Gift Pages
However, for many organizations, this is easier said than done. This is why automating your marketing outreach can make promoting matching gifts easier, especially when you have a lot of data to track.
Top Matching Gift Companies
Microsoft – Matching Gift Program Information
Microsoft is a technology company that develops computer software, consumer electronics, and more. The company matches up to $15,000 at a 1:1 ratio. Full-time and part-time employees can submit requests for a match at any point during the last 12 months.
The Home Depot – Matching Gift Program Information
The Home Depot is a large home improvement retailer in the United States. The company will match up to $1,000 per employee for each organization they donate to, with a maximum of $3,000 per employee. Full-time and part-time employees must submit their matching gift requests by January 31st of the year following the date of the donation.
Disney – Matching Gift Program Information
The Walt Disney Company is a mass media and entertainment company. They match donations to most nonprofits made by full-time and part-time employees. The company will match up to $25,000 at a ratio of 1:1.
Matching Gifts Automation: The Benefits
#1: Identify Opportunities for Revenue
Make It Easy to Search
By adding a matching gift widget to your donation form, your donors will be able to search for their employer in a database of thousands of companies that offer matching gift programs. This makes it incredibly easy for your supporters to determine whether they’re eligible for a gift match from their employer. Your donor can then view the forms, guidelines, and next steps they must take to submit their match request, if eligible.
Don’t Miss Out on Opportunities
By using a matching gift automation platform, you can automatically identify matching gift eligibility based on the email address your donor provides during the online donation process. If they use an employer email address, you’ll be able to grab their employer’s information and determine if they offer a matching gift program, growing your revenue as a result.
#2: Automatically Double the Impact
Send Automatic Emails
Make it easy to automatically increase your donor’s gift through a corporate match. An automation platform will trigger out emails to donors based on their eligibility for a matching gift. This takes the pressure off of your organization and individual team members and ensures you can double a donor’s impact without too much effort on your end!
Find Your Data
When you’re a large organization with a large donor base and several pieces of data to track, having matching gift data and performance insights right in front of you is essential. A matching gift automation platform tracks this data for you so you can find the information you need without having to comb through individual match requests.
#3: Tell Your Brand’s Story
Make It Sound Like You
When you can’t customize your messaging with your logo, email domain, or even color scheme, it won’t feel consistent with your brand. A matching gifts automation platform will help you customize your triggered emails automatically so you can keep your branding consistent and continue to tell your story.
Make It Personal
Reaching out to your donors and forming a connection with them is the most important thing your organization can do. By adding personal information to your email, including the donor’s name, donation amount, date, and more, you’ll make it clear that you value their time and commitment to your organization, and continue stewarding them.
How to Automate Matching Gifts with 360MatchPro
How can you enjoy the benefits mentioned above? By investing in a matching gift automation platform like 360MatchPro by Double the Donation, your organization will be able to efficiently monitor outreach to your donors, track the progress of matching gift submissions, and increase the resulting revenue from these efforts.
360MatchPro provides a streamlined process for securing matching gift revenue. Here’s how it works:
Streamline the Donor Experience
Your donors can give the same way they always have, but they’ll also have an opportunity to initiate a donation match on your donation form, confirmation page, and through follow-up emails. Easily remind your match-eligible donors to submit a match request via automated outreach.
Automatically Increase Revenue
By sending out the right automated messaging to your donors based on their eligibility, you can generate more matching gift revenue for your organization. During the process, you can also track the status of each match request through to completion. This detailed data will be invaluable for your team.
Easily Submit a Match
Provide your donors with the information they need to complete their match request, straight to their email. Then, your donors can easily complete the match process electronically, or via paper PDFs or E-Sign.
Keep all of your donor data in one place so you can more easily leverage the information you have. Identify your top matching gift revenue opportunities and sync your matching gift data with your CRM to keep it organized.
Benefits of 360MatchPro
Generate More Revenue
360MatchPro will automatically email your donors the information they need to complete their match request, which means your team won’t have to spend as much time following up with donors, and you’ll generate more revenue in the process.
Once you’ve received the first donation from a new donor, you’ll be able to form a long-term relationship with them by making the matching gift process easy and helping them see how much bigger of an impact their gift can make.
Improve Your Processes
When you are able to track the matching gift process from start to finish with each donor, your process will become more streamlined and your organization can instead focus on what’s most important: its mission.
Investing in a matching gift automation platform like 360MatchPro by Double the Donation can not only boost your matching gift revenue, but also make your tracking process much simpler. You’ll make your organization’s employees’ jobs easier and more streamlined, and this will result in more matching gift opportunities.
Automation goes a long way in terms of effectively reaching out to your supporters and easing the pressure on your team.
Additional Matching Gift Resources
Matching Gift Programs
New to matching gifts and not sure where to start looking?
Check out this guide to corporate matching gift programs and maximize your donations.
Top Matching Gift Companies
Curious as to whether your donors are linked to top matching gift programs?
Check out 360MatchPro’s list of top companies that match donations.
Marketing Matching Gifts
Are you looking for an effective way to market matching gifts to your supporters?
Check out this helpful guide to promoting matching gifts.