How To Maximize Corporate Donation Matching
At Booster, we talk a lot about how to make school fundraisers organized, unique, and fun. But fundraisers wouldn’t be much without the generous donors who give to your school.
So, how can you make sure those donations are making the biggest impact possible? One way is through corporate matching. This fundraising strategy can help you literally double (or triple, or quadruple!) the donations you get for your private school fundraising campaigns. Keep reading to learn how.
What is corporate matching?
Corporate matching is a school fundraising method in which a company makes donations to an organization equal to the donations made by employees. Donation matching ratios vary from company to company: many companies donate on a 1:1 basis while some others donate 2, 3, or 4 times the amount donated by employees.
What does this mean for your private school fundraising? Basically, it’s like a buy-one-get-one-free deal for your school. Each donor who successfully gets their donation matched by their company essentially counts as two donors instead of one, with little extra work.
Sounds easy, right? So why aren’t more schools doing it? According to one of our partner organizations, gift matching service Double the Donation, 78% of match-eligible donors do not know their companies offer gift matching, while only 7% of donors at companies with gift matching programs actually submit a match request. Simply put, many donors likely just don’t know they can get their donations matched, or don’t know how to complete the process.
That leaves a lot of money on the table for your school. Booster schools usually raise about 30% of their funds from school parents and the other 70% from friends, family, and local businesses. If a large number of those parents, family, and friends work for companies that offer gift-matching, think of how much you could multiply your donations if only they knew about it.
That’s why we’ve put together this guide on how gift matching works and what steps a donor usually has to take to get their donation matched.
How corporate matching works
What companies offer gift matching?
As mentioned above, one of the biggest barriers to maximizing donations through corporate matching is simply a lack of awareness about the option to get donations matched. There are matching gift databases available - like the one offered by Double the Donation - that can help donors find out if their companies offer gift matching.
Submitting a match request
While it would be great if donations just magically doubled as soon as your school receives them, unfortunately it’s not quite that easy. Donors looking to get their gifts matched typically need to submit a gift match request to their company. The process will vary slightly from company to company, but usually donors will make their donation, check that it’s eligible to be matched, and submit a form to the company. When the request form is approved, the company will make a matching donation.
Donations to educational institutions (including K-12 schools) are pretty commonly eligible for gift matching programs. However, companies may put restrictions on the types of donations that they will match. Donors should check their company’s policies for any restrictions before submitting a match request.
Another common restriction is on the amount of money eligible to be matched. Virtually all companies set minimums and maximums, typically $25 at minimum and around $100 at most. Make sure donors are aware of how much of their donation is actually eligible to be matched.
Tips for maximizing funds through corporate matching
Get the word out
The number one thing your school can do to start maximizing donations is to tell your donors about corporate matching! Encourage potential donors to check with their companies to see if they offer gift matching programs, what types of donations are eligible, and what the minimum and maximum amounts are. Below are a few ways to get the word out about corporate matching:
- Social media - Dedicate a few social blasts to information about corporate matching.
- Fundraising Promotional Materials - Mention corporate matching in your fundraising announcements, newsletters, flyers, and volunteer forms. Include a few instructions or resources on how to find matching companies and determine donation eligibility.
- Talk to donors - Private school fundraising isn’t just about money; it’s also about building community. At your next (virtual or in-person) event, use those networking skills to get people talking. Find out what companies donors work for and make sure they know to look for corporate matching opportunities at their jobs.
To make life easier for everyone, Booster has partnered with Double the Donation to provide a way to easily find and capitalize on corporate matching opportunities right through the Booster fundraising platform. Thanks to this exclusive partnership, Booster helped schools discover a collective $1 million in additional funds in just a few short months.
If you’re interested in adding corporate matching to your private school fundraising mix, find out more about the Booster fundraising platform today.