Growing your nonprofit’s funds is a vital component of running a successful, sustainable, and impactful organization. But what if we told you that there’s a way to double existing support to collect more for your cause without having to solicit dollars from donors once again?
That way is called corporate matching gifts, and this underutilized source of nonprofit revenue is one of the greatest ways to elevate any organization’s fundraising efforts. Plus, you don’t have to just take our word for it, either — we have the research to back these claims up!
In fact, fundraising studies by Double the Donation have provided nonprofits like yours with the following key statistics regarding matching gifts:
- More than 26 million people work for companies with corporate matching gift programs.
- 78% of match-eligible individuals have no idea whether their employer matches gifts.
- $4 – $7 billion in matching gift funds goes unclaimed per year.
- 84% of donors are more likely to donate if a match is offered.
- 1 in 3 donors will make a larger donation if a matching gift is applied.
- An automation tool can double or triple an organization’s matching gift revenue.
In this guide, we’ll dive into each of the facts above. Whether you’re a matching gift expert or a corporate fundraising novice, any nonprofit professional should know these stats, along with the tangible impact they might have on your fundraising efforts.
Stat #1: More than 26 million people work for companies with corporate matching gift programs.
Corporate matching gift programs are likely more common than you realize. Tens of thousands of companies offer matching donation benefits to their employees, who total nearly 27 million — or 26,802,622, according to Double the Donation’s real-time database analytics.
With a group of match-eligible individuals that large, chances are a number of your nonprofit supporters will fall within the category. If your existing or prospective donors do work for top matching gift companies, their financial contributions are eligible to be doubled by their employers. This offers your organization an additional donor engagement opportunity while also collecting what is essentially “free money” from corporate supporters.
Stat #2: 78% of match-eligible individuals have no idea whether their employer matches gifts.
Despite so many people being eligible to participate in their employers’ matching gift initiatives, the vast majority are completely unaware of these giving programs in the first place. Although thousands of companies offer matching gifts to employees, many fail to adequately promote these opportunities to their workforces.
One of the biggest roadblocks to securing matching gift support is that your eligible donors don’t know about the opportunity. Since millions of employees were never informed about matching gifts, you can’t expect these individuals to request available gift matches on your behalf. And because the companies offering donation matches don’t often inform eligible employees about the programming, nonprofits like yours have to pick up the slack and educate donors themselves.
Stat #3: $4 – $7 billion in matching gift funds goes unclaimed each year.
Billions of dollars in available corporate matching gift revenue is left on the table by nonprofits like your own—largely due to the widespread lack of awareness covered above. When donors don’t know about or choose not to participate in their employers’ matching gift opportunities, those dollars (although originally allocated toward corporate philanthropy) will stay with the companies that offered them.
Your organization is likely not making the most of your matching gift potential. Eligible donors are never being informed about the programs, and even those that are aware of their employers’ gift-matching offerings might not know how to get involved and request their corporate match on your behalf. Just think of all the mission initiatives you might be able to take on if only you had these bonus corporate gifts—that often remain right out of reach.
Stat #4: 84% of donors are more likely to donate if a match is offered.
Donors love giving to their favorite charities, especially so when they know their dollars are being stretched to make twice an impact, thanks to matching donations from their employers. In fact, knowing their gift would be eligible for a company match can be a driving factor for 8 out of 10 donors to complete their donations.
When you seamlessly incorporate matching gifts into your nonprofit fundraising strategy, you can see significant advantages not only to your corporate giving revenue growth but to your individual giving as well. This is especially useful for supporters-turned-donors who had previously been on the fence about contributing financially, having decided to take the next step due to the knowledge that their gift, if made, would be matched by their employer.
Stat #5: 1 in 3 donors will make a larger donation if a corporate matching gift is applied.
Not only are donors more likely to give in the first place when they’re aware that a match is being offered, but they’re also more likely to give in larger quantities.
And here’s a bonus stat! As a result of the previous statement, mentioning matching gifts in fundraising appeals results in a 51% increase in the average donation amount.
More donors choose to up their initial gift size when they recognize their potential for a matching donation. For some, this adjustment is completed in order to reach their company’s minimum donation threshold so they can qualify for a match. Yet, for others, the increased gift size is simply due to a heightened level of inspiration as well as engagement with your mission. For example, when an individual sees how a $50 gift can become $100, they might choose to contribute $100, which then translates into $200 of impact.
Stat #6: An automation tool can double or triple an organization’s matching gift revenue.
You already know that equipping your team with top-of-the-line resources is essential for ensuring efficient practices and maximal results. Matching gift automation software works the same way and has even been proven to increase nonprofit match revenue by up to 200%.
A matching gift automation platform (such as the industry-leading solution, 360MatchPro) can not only help your organization raise a ton more dollars in corporate matching gift revenue, but it can also save your team time, energy, and resources by taking on the brunt of the undertaking on its own. And when the day-to-day tasks are streamlined and pre-programmed, your nonprofit fundraisers can retain additional effort to allocate to your highest-value matching gift donors and mission-related tasks.
The right matching gift strategies can help your organization maximize its corporate giving revenue and better reach its potential. And you don’t have to craft your fundraising plan blindly because research — like the above statistics from Double the Donation and other experts in the matching gift fundraising space — can help guide your way.
Take advantage of this knowledge to propel your organization’s giving and connect with your own corporate matching gift program. Get in touch with iDonate today to get started.