According to the latest research from Double the Donation , employee matching funds remain a major source of untapped funds for nonprofits. Did you know there are an estimated $4– 7 billion in these funds that go unclaimed each year? With the ever present need to replace lost and reduced revenue, now is the time to incorporate going after matching gifts as part of your 2021 funding plan!
This month, consider setting aside some time to strategize around matching gifts. Does your website or donor thank you email highlight how donors can give via matching funds? Do you reach out once or twice a year to highlight how impactful matching gifts have been for your mission? Some non-profits have even focused their #GivingTuesday strategy as a way to incorporate and encourage matching donations.
Part of any communication strategy should certainly include a social media plan. Is there a hashtag, sample post, and social card you could provide for your donors? Can you do a short, dedicated call to action in the Spring to encourage folks to check with their company about how its matching funds program works?
With MIP’s fund accounting solution’s configurable ledger, we enable nonprofits to track matching funds easily as well as pull and prepare audit reports on how those funds were utilized. Nonprofits who are leveraging matching gift programs can monitor participation within those programs through configurable reporting, which also gives them the ability to illustrate to donors how those funds were used. This allows for accountability, record-keeping and time-vested tracking.
Additionally, through MIP, nonprofits can leverage “what if” budget forecasting to illustrate anticipated return of corporate matching gifts, based on employee gifts made to date in any given period. Nonprofits can use this data for follow-ups with any given company to ensure that their employees are taking the steps to fulfill matching gift requests. MIP manages matching gift program details via UDFs (user defined fields) or notes that are added manually. Make this month the time to make those matches!
Visit this link for more information on MIP’s Fund Accounting Solution or to request a demo.