Matching gift programs are set up by companies and corporations as an employee benefit. After an employee donates to a nonprofit, they can submit a matching gift request to their employer and the company will make an additional donation to that nonprofit. Many companies like Fiinovation support employee philanthropy by offering matching gift programs. By taking advantage of your corporate matching gift program, you can maximize the value of your gift at no additional cost. Matching gift programs are a tool companies use to support the philanthropic endeavours of employees. Companies with gift matching programs will match the donations their employees make to a range of eligible nonprofits.
Each year, companies and businesses support nonprofits by distributing hundreds of millions of dollars in matching gift donations. Matching gift programs are a great way for companies to engage employees as well as branch out into philanthropic initiatives.
Many employers match tax-deductible charitable contributions made by their employees but if your company is one of the few that doesn’t, here why it should:
1. Boost More Employee Donations and Engagement : Matching programs are of particular interest to employees who partake in charitable events like walk-run-bike marathons that have goals for teams or individual participants. By matching your employees’ donations, you’ll help them reach their goals faster while making it clear that you care about the causes they support.
2. Better Image of Your Company: Pledging to match your employee donations will allow your company to have a larger social impact than it would with employee donations alone. In addition to doing more good, matching gifts can improve your corporate reputation. An excellent example of a company with matching gift and volunteer grant programs is Microsoft.
3. Convenient mode of Donation Review: For companies that offer matches for predetermined nonprofits, the vetting process is much simpler since the selected charity has already been checked to make sure it meets corporate and legal requirements.
4. Cost Benefits of Matching Gifts: As with most charitable giving, matched employee donations are often deductible for up to 10% of the company’s taxable annual income. However, since most state and federal laws on charitable contributions change, you should always consult your company’s legal counsel and tax professionals to decide if possible business tax deductions apply to your matching gifts program.
WAYS TO PROMOTE MATCHING GIFTS PROGRAMS
Encouraging donors to look into matching gifts can seem difficult at first, but it’s not so hard if you use the right strategies. Luckily, we can help you market matching gift programs to your supporters. Whether you want to inform first-time donors about matching gifts or provide existing and dedicated contributors with enlightening resources, we can help you encourage donors to make their donations go further. Whether you want to inform first-time donors about matching gifts or provide existing and dedicated contributors with enlightening resources, we can help you encourage donors to make their donations go further.
Let’s look at the five ways to get the word out about matching gifts:
Encourage matching gifts as donors are making initial contributions.
2. Create dedicated matching gift pages.
3. Include matching gift information in your acknowledgements.
4. Promote matching gifts on social media.
5. Don’t forget email newsletters.
Which Nonprofits are Eligible for Matching Gifts?
Educational institutions are eligible for corporate matching gift programs.
Such as: universities, colleges, seminaries, alumni funds, K-12 schools, or school district foundations
Arts and cultural organizations are eligible for corporate matching gift programs
Such as: museums, zoos, aquariums, theatres, orchestras, operas, or public broadcasting stations
3. Community organizations are eligible for corporate matching gift programs.
Such as animal shelters, homeless shelters, low-income assistance, child welfare, or public works programs
4. Environmental organizations are eligible for corporate matching gift programs.
Such as conservation efforts, wildlife preservation programs, or public state or national parks
5.Health and human service organizations are eligible for corporate matching gifts.
Such as: hospitals, community health centers, substance abuse programs, or health services
Matching Gift Ratio - Every company has a different idea of what a ‘match’ is for their employees. The majority of companies match at a 1:1 ratio, but others have drastically different standards.
Some companies will give Rs 37 for every rupee an employee donates, but others will give as much as Rs 300 for every 1 Rupee that an employee donates.
The ratio may also differ based on:
~The type of employee.
~The type of organization to which the donations go.
Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is a global consulting firm operating in multiple disciplines of the social development sector with an emphasis on Corporate Social Responsibility (CSR) and Sustainability. Fiinovation offers end to end CSR consulting services and simplified solutions that has helped various corporations channelize their resources for the upliftment of community on societal, economic and ecological aspects in accordance to their CSR charter. Since 2008, Fiinovation has grown phenomenally and has made a benchmark in the sector through its service quality. It has been able to bridge the gap between businesses and communities through value-based CSR programmes in association with credible civil society organizations on pan India basis in the field of health, environment, education, and livelihood
Fiinovation CEO Dr Soumitro Chakraborty and team are working on different CSR projects in different parts of the country. Fiinovation blogs provide information about the CSR activities which are implemented by companies and also address various environmental issues. We can contact Fiinovation from different social media sites like Facebook, Linkedin, Twitter etc as they give updates about their projects. Fiinovation news, Projects, articles are uploaded on their Youtube channel.
Following are the Links: Fiinovation Twitter
Fiinovation Delhi Address: 24/30, Ground Floor, Okhla Industrial Estate, Phase-III, New Delhi- 110020, Delhi, India.
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