Considering a Matching Gifts Program for Your Small Business
By Sarah Ford on September 9, 2014
By Adam Weinger, Double the Donation
You want to launch a matching gift program at your small business? Great! Before we dive into HOW, I thought it might be helpful to quickly review the basics.
Matching gift programs are a type of corporate giving program in which an employer matches an employee’s donation, generally dollar for dollar, to eligible nonprofit organizations. For example, if a Bank of America (BoA) employee donates $500 to an eligible nonprofit, then all the employee needs to do is submit a matching gift request form, and BoA will write a check for $500 to that same organization, literally doubling the donation to a total of $1,000!
Some companies match donations as little as $25 and others as high as a $300,000! We know that not all businesses can make these kinds of financial commitments (see one of Rachel’s previous posts). But because the decision about much to match is yours to make, smaller businesses can still participate in this kind of giving even with fewer financial resources (as is outlined in this blog by America’s Charities).
The Business Benefits
One of the best reasons for having a matching gift program is how it can help enhance employee pride. There are various studies that have been conducted by research organizations on the impact of corporate giving programs (like matching gifts) on employee engagement and retention.