Corporations support nonprofits in myriad ways, including grants, employee match and volunteer programs, event sponsorships, and more. The best alliances offer valuable benefits to both organizations, bolstering a nonprofit’s finances and helping a company’s reputation, too. Ideally, these collaborations should last for multiple years, with the mutual benefits compounding over time.
But how can your organization get a foot in the door with a corporation and forge a successful partnership?
The Chronicle recently spoke with three corporate-giving strategists who shared their suggestions to help you start or ramp up your efforts. Among their top tips: Shop local. As the saying goes, charity starts at home, the experts say, and that’s particularly true for corporate support. Smaller charities can benefit from getting to know businesses in their geographic area, including small and midsize companies and headquarters of well-known brands.
For charities that aren’t already pursuing corporate partnerships beyond one-time gifts, finding these collaborations will likely require being seen out and about. Joy Stephens, founder and CEO of the Corporate Giving Network, recommends nonprofit leaders take time to immerse themselves in their local business community by attending chamber of commerce meetings and other networking events.
“Usually it’s easier to get money locally,” she says. “You know what’s around you. Chances are, you have connections to that company.”
Don’t feel you have to cast as wide a net as possible and seek one-off partnerships with many companies, Stephens adds. A better strategy is to keep the corporate funders you have for the long run. “If you have longer-term relationships — three- or four- or five-year partnerships — you’re golden,” she says. “You don’t have to fundraise every year.”
She notes that businesses enjoy the good press that comes from being linked to a cause, and on your end, knowing you can count on a company’s financial support in years when individual giving is down can keep your programs running smoothly.
Get all the tips in the full story, 7 Ways to Secure Corporate Partnerships — and Make the Most of Them. To go deeper, see our tool kit, How to Tap Into Corporate Giving, and register to watch the recording of our recent webinar, Unlocking Corporate Grants and Partnerships.
Take care,
Lisa Schohl
Senior Editor, Advice
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