Learn how to leverage matching gifts to your audience and bring in boosted fundraising revenue in no time. Check out these 5 impressive statistics to share!
Nonprofit professionals across the globe are always looking for new ways to boost their fundraising efforts. How would you feel about unleashing a new source of revenue that can essentially double (maybe even triple!) the gifts you’re already receiving?
As proud partners, that’s exactly what Double the Donation and RaiseDonors are trying to do. By working to assist nonprofits everywhere in maximizing their fundraising revenue through corporate philanthropy, our teams continue to find new and improved ways to leverage corporate giving programs.
If your organization has yet to see the value of matching gifts, here are 5 key statistics that might change your mind:
- An estimated $4-7 billion in matching gift revenue is left on the table every year.
- Over 18 million individuals are employed by companies with matching gift programs.
- 84% of donors report a higher likelihood of giving if the donation is matched.
- 1 in 3 donors is willing to make a larger donation if a match is offered.
- Automating the match-eligible gift search can double or triple a nonprofit’s matching gift revenue.
Sounds impressive, right? Let’s walk through each statistic in further detail to get a better understanding of the way matching gifts can drive your nonprofit mission forward.
1. An estimated $4-7 billion in matching gift revenue is left on the table every year.
Did you know that currently, an estimated $2-3 billion is donated through corporate matching gift programs each year? That’s a good chunk of money that can make a powerful difference! Plus, with maximized usage of these programs, this number has the opportunity to double or even triple.
Before you can leverage matching gift programs, it’s important to understand how they work. The process is simple:
- An individual makes a charitable donation to a nonprofit.
- If eligible, the donor then requests a match from their employer.
- The employer confirms the original donation with the organization.
- The employer then matches that donation to the nonprofit.
So why is so much of the available revenue going unclaimed each year? Businesses and corporations typically set aside a sum of money to go towards charitable giving in the form of employee gift matches. When those match requests never come in, the funds are never distributed to nonprofit organizations in need.
2. Over 18 million individuals are employed by companies with matching gift programs.
While so many individuals work for companies with these programs, very few end up following the necessary next steps and having their donations matched. This is largely due to a lack of awareness surrounding the programs. While some employers actively promote their matching gift programs in order to boost participation levels—like American Express with a 70% employee participation rate— other companies choose not to.
To combat this issue, nonprofits may need to take things into their own hands and educate their audiences on these available resources and how to make use of them. There are a few main steps you can take to encourage donors to complete the process:
- Educate your audience about the existence of matching gift programs. Some of your donors may not even know what matching gift programs are. To solve this issue, you can provide your audience with educational resources about corporate giving programs and encourage them to look further into their own opportunities.
- Encourage donors to quickly see if they’re eligible for a match. Once you’ve educated your supporters, make it as simple as possible for them to research their own eligibility. By employing a comprehensive matching gift database like the one developed by Double the Donation, donors can quickly and easily discover their eligibility requirements by searching for their employer.
When you use an intuitive online giving platform like RaiseDonors, it’s easier than ever to collect, store, and manage important data about each donor— such as their employer information. By tracking this important data, your team can research donors’ eligibility and quickly reference it in the future.
3. 84% of donors report a higher likelihood of giving if the donation is matched.
Not only do matching gift programs lead to increased revenue for nonprofits through the matches themselves, but it can also be a motivating factor when donors are deciding whether or not to give in the first place.
When armed with the knowledge and understanding of matching gift programs, your supporters are much more likely to donate to your organization! That’s great news, whether it’s brand new supporters who have recently been introduced to your mission or long-time donors considering an extra gift.
For some donors, they feel the amount they’re able to give isn’t enough to make a real difference. As a result, they mistakenly believe there’s no real point to giving. However, knowing that a gift may be matched by their employer— thus doubling their impact— can be just the incentive they need to make the jump.
That’s why it’s so important to get the donor acquainted with matching gifts before submitting their donation. And what’s the best way to do that? Include matching gift information directly within your donation form, like this:
In doing so, you’re able to direct the donor’s attention to matching gifts at the ideal moment. After all, engagement is at an all-time high during the donation process.
4. 1 in 3 donors is willing to make a larger donation if a match is offered.
Similarly, many donors are willing to increase the size of their donation if they’re aware that a match will be applied. This is a great way to foster relationships with your current donors or those who already planned to give, but now see an opportunity to make a larger impact.
For example, let’s say a donor was planning to make a $50 donation to your nonprofit. As they complete the donation form, they are encouraged to see if their gift is eligible to be matched with an easy-to-use, fully integrated search tool. They quickly see that, yes, for any donation they make, their employer will match it dollar for dollar.
Then, to really take advantage of their employer’s corporate giving program, they decide to up their own donation to $100. As a result, the employer will give another $100, bringing the total impact of that individual donor’s contribution to $200.
That’s 4 times the original donation they planned to make!
Donors love having the opportunity to make a more significant contribution to the mission without having to reach back into their own wallets to do so. Plus, your organization receives a larger donation, so it’s definitely a win-win situation.
5. Automating the match-eligible gift search can double or triple a nonprofit’s matching gift revenue.
But what about donors who already submitted their gifts without looking into their matching gift program eligibility? And those donors who breeze right past the embedded search tool on your donation page without stopping to do a quick search?
That’s where matching gift automation comes in. With intuitive matching gift software like 360MatchPro by Double the Donation, match eligibility is determined by an automatic analysis of donor information.
The program can scan for email domains and other identifying details to sort donors into categories (e.g. eligible, likely ineligible, or unknown), follow up with donors through automated email outreach, and drive each match to completion.
A comprehensive tool such as this removes much of the manual research required on both the nonprofit and the donor end of the process to provide a streamlined matching gift experience with greater results. And with integrations with fundraising software like RaiseDonors, it’s quick and easy to get started.
Thanks to corporate giving tools and match-automation software, taking advantage of matching gift programs is easier than ever. All you need to do is sign up, sit back, and watch as the matching gift revenue starts flowing in. Good luck!