When you think of Ben Franklin what comes to mind?
Drafting the Declaration of Independence and the Constitution? Certainly. Conducting scientific investigations into electricity and mathematics? Absolutely. Helping negotiate the treaty ending the American Revolution? Almost single handedly.
But do you know the role Ben Franklin played in the world of corporate philanthropy?
Ben got the Pennsylvania Legislature to cough up the “Benjamins” as part of the nation’s first corporate matching program. In 1751, he was able to establish a 1:1 corporate donation matching program to build the nation’s first hospital in Philadelphia.
In regards to corporate contributions, how far have we come in 260 years? Giving as a percentage of personal disposable income has hovered around 2% for – drum roll please – 40 years. And since 1974, corporate charitable donations, as a percentage of corporate pre-tax profits has averaged 1.1%. Since many corporations offer matching programs, why is corporate giving so much less than personal giving percentage-wise?
It is estimated that anywhere from $6 to $10 billion in
available corporate donation matching funds GOES UNCL
That’s “BILLION”…with a “B.”
Corporate matching programs hold great potential for nonprofit fundraising programs.
65% of Fortune 500 companies offer matching programs. Even just mentioning matching gifts as an option in your fundraising campaigns has an impact. These are the average results:
- 71% increase in the response rate
- 51% increase in the average donation
Even better still, 91% of companies match donations at a 1:1 ratio and 5% match at a higher rate such as 2:1 or 3:1. There is a huge opportunity here.
If you want to easily tap into these unclaimed funds, iDonate can help.
The iDonate Unified Giving System gives nonprofit organizations the ability to process cash and corporate matching donations as well as noncash donations, including vehicles, gift cards, electronics, real estate and more. Using iDonate’s platform, our customers have achieved a 3x average online donation conversion rate and a 2-3x improvement in average gift size.