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Did you know that some employers match charitable donations?
That’s right. If you donate to a nonprofit organization like ReDefiners World Languages, your place of business might match that gift up to a specified amount.
Donation matching is a widespread policy held by many businesses that encourages employees to give money to charitable causes and nonprofit organizations. By asking your business to match a donation, you exponentially increase your dollar’s impact.
To understand the potential effect of donation matching, imagine this scenario: You donate $100 to your preferred nonprofit organization. Then your place of employment, XYZ Corp, will also donate $100.
The above example is a 1:1 donation match ratio. The cool thing about match ratios is that some businesses will match at a 1:2, 1:3, or even a 1:4 ratio. So if you donate $100 to a nonprofit, XYZ Corp will donate an additional $400 for a total of $500 in donations. Your impact has been quintupled!
Why Do Companies Match Charitable Donations?
There are a few good reasons for companies to match charitable donations.
1. Corporate Social Responsibility (CSR)
Corporate Social Responsibility is the idea that the company will hold itself and its stakeholders accountable for its impact on society. By subscribing to CSR, companies are taking a proactive approach to giving back to the community and creating a better tomorrow. An Employee Matching Program is just one way companies engage in CSR
2. Employee Retention and Engagement
According to Double the Donation, Employee Donation Programs increase employee engagement and improve retention. With the current tight job market, this is a must for all companies that wish to stay competitive.
3. Public perception
Public perception is vital to any business. Engaging in charitable ventures like Employee Matching Programs is one way for companies to show off their brands under positive publicity. It is a win-win for everyone involved.
Does Your Company Match Donations?
How do you know if your company matches donations? There are a few good resources you can use to find out. First, try using a website like Charitynavigator for a quick search of your company’s policies.
Second, ask your coworker, supervisor, or Human Resources department. One email to the right person will probably be all it takes to find the information you need. And if you discover that your company doesn’t have an Employee Matching Program, perhaps your inquiry will pique their interest in starting one.
Be sure to read your employer’s matching program guidelines as most companies have rules regarding these programs. For example, some nonprofits are excluded from matching programs for various reasons. There may also be minimum and maximum amounts that employers are willing to match for every calendar or fiscal year, which means that you must submit matching requests within a specific timeframe.
Make sure you are aware of your company’s guidelines before requesting that your donation be matched.
How To Use Your Company’s Employee Matching Program
Once you have determined that your company matches donations, follow these steps to get through the matching process:
Make your initial donation
Receive confirmation that the nonprofit received your donation
Submit your matching request to your employer (which means filling out the necessary paperwork)
Wait for confirmation that your donation has been matched
This is the most common procedure for most Employee Matching Programs.
Start Helping Today
Those who are interested in joining ReDefiners’s GivingTuesday initiative can visit https://www.redefinerswl.org/givingtuesday. For more details about the GivingTuesday movement, visit the GivingTuesday website (www.givingtuesday.org), Facebook page (https://www.facebook.com/GivingTuesday) or follow @GivingTuesday and #GivingTuesday on Twitter.