by Diane Bauhof, Senior Consultant, CFRE
When I advise nonprofits about corporate giving, I recommend including a “corporate giving” section in their gift acceptance policy. It should note whether there are companies or even entire industries that your nonprofit wouldn’t want to partner with because they conflict with its mission. For instance, a nonprofit supporting individuals struggling with substance abuse would not want a partnership with a liquor company.
That corporate giving policy should also include how your organization is willing to recognize companies. Will you include their logo in your collateral/socials? Will you allow a link to their company from your website? Will you allow them to speak at your event? Will you allow them to be in front of your clients/customers, and if so, in what way?
What A Corporate Giving Policy Gives You
Why is this necessary? A written, official corporate giving policy helps you be consistent in your decision making while keeping personal feelings about a company out of the process. It also allows your fundraising team to approach companies without having to backstep later when someone changes their mind. That is not good donor stewardship and will cause frustration to your team.
This scenario came up recently: an organization’s CEO didn’t want company sponsors to have a booth at their public event. On the other hand, they had no problem applying for a grant they’d have to promote on their social media and to their email list inviting constituents to “vote” for their organization so they could win the funding, all the while promoting the company’s name. It’s not that either decision was wrong, but together they were inconsistent.
The Pull Between Money and Mission
There seems to be an ongoing pull in nonprofits between “go raise money” and “I don’t want to put a company’s logo on our invitation”. With corporate giving, you can’t have it both ways. Companies do want to support the communities where their employees live, work and play, but they also want recognition for their support. And they often are seeking a deeper partnership than just a logo. It makes them look good to support nonprofits. According to a recent study, 90% of consumers want companies to tell them about the ways they support charities and causes, and 87% say they would purchase a product because a company advocated for an issue they care about.
There are many right ways to approach corporate giving. You just need to define what it will mean for your organization. It’s okay to have stipulations – companies understand that – but your fundraising and marketing teams need to know the boundaries and guidelines so they can have a productive conversation with a corporate prospect.
So, go determine what a successful corporate partnership looks like (and feels like) for your nonprofit. Get buy-in from the staff and board, write it down, ensure everyone knows the policy, and let your team proceed to find the right corporate partners for you!
#LBH #GlimmersofHope #Blog #CorporateGiving
Do you need help figuring out how to align looking for dollars with your organization’s mission? Call Let’s Build Hope today and let us help you explore which of our services would be right for you!