Soliciting Matching Gifts

Transcription

1 Soliciting Matching Gifts Soliciting matching gifts is not straight forward. Responsibilities for the mechanics of data maintenance and acquisition, asking for matching gifts, pledge collection and follow-up (both with individuals and organizations), corporate agents, alumni events within organizations and other aspects of matching gifts typically cross many program areas in a development office. Ensuring that all areas are motivated to maximize revenue, keep the data clean, manage volunteers and keep all of this together requires good management techniques and a watchful eye to ensure everything that needs to be done is done. In addition to the nuts and bolts processes, credit for the revenue stream actually received may fall within a completely different program area from those departments which play an active role in soliciting these gifts. Solicitation techniques for matching gifts need to carefully consider the whole process from start to finish; acquisition of data, acquisition of the original gift from the donor, and acquisition of the match from the organization. The additional need to recognize donors and have policies and procedures in place that count matching gifts for internal and external needs is additionally critical. 1

2 Solicitation and follow-up strategies are complicated by the guidelines or parameters companies have in place, and this also ties into the ethics of the ask request for matching funds and the subsequent direction of matching gifts and reporting back to the organizations. Since multiple areas in development are involved, it is somewhat difficult to give the most complete and comprehensive solicitation picture in a short article. However, here are some simple tips and tricks and cost effective suggestions and ideas. Fundraising The three tenets of a good fundraising program are to increase dollars and donors, educate internal and external constituents, and identify prospects. In essence - creating the behaviors across all constituent groups that reinforce giving and engagement. Increasing matching gift participation is firmly rooted within the tenet of education. We all understand that matching gifts come down to donor awareness and a little additional effort on their end to fill out and submit forms and ensure that their gifts are matched. There are a number of inexpensive (if done strategically) initiatives that will enhance matching gift comprehension and donor effort to fulfill gift potential. PS Mention: A P.S. should be used in most letters as it provides an opportunity to stress an important point and studies show that the P.S. is often the one part of the letter read and remembered the most. (Note: Letters also include s.) A statement such as, Double or triple the impact of your gift at no additional cost. Please check with your employer to see if your gift can be matched through a company matching gift program, can serve as a nice matching gift reminder. The Importance of MG Blurbs and Web Site Integration: 2

3 You should draft sample language that you and your internal constituents can place on their websites and within newsletters. Sample advertising language: Free Money! Yours for the Asking! (Institution Name) receives over $1 million each year in free money due to company matching gifts, thanks to donors who request the form from their participating employer and send it to (Institution Name) with their gift. (Institution Name) takes it and follows up with the company to receive the match. Matching Gifts are an easy way to double or even triple your gift to (Institution Name)! Check with your employer today to see if your employer will match your gift to (Institution Name) or visit our online lookup site: All asks and educational materials need to be closely integrated into your institutional web presence including matching gift company lookups, employment information capturing using update and online giving forms in your alumni community. Creative ideas in your web site and in your communications can go a long way to ensuring your matching gift success. Telemarketing All scripts and asks should include employment information acquisition, and enquiries as to whether the constituent works for a matching gift company. Design your scripts to encourage additional giving and participation. One inexpensive strategy for collecting employment information is to provide luggage tags made from business cards submitted with pledge cards or collected at events. These are laminated and sent back to the constituent. Luggage tags can be talked up in your scripts, direct mail appeals and at events. Appeals Appeal processes are one of the key areas to increase matching gifts. Prospects working for a matching gift company should get more appeals than those not working for one. And don t forget the education of the major gifts staff. Major donors that are officers in may have more favorable matching gift ratios. 3

4 Corporate Agent Programs The use of corporate agent programs can be useful in both promoting the benefits of matching gifts, encouraging participation for all giving, and creating networking opportunities for clusters of constituents within specific organizations. They can be further developed into a mini-campaign within a company to engage potential donors who don t have an existing link to your institution but who can be cultivated to support your organizational mission in tandem with colleagues. Educational Postcards This strategy can work well to jumpstart matching gift awareness. The direct mail piece is a simple postcard, not seeking a gift, but rather utilized as a Did You Know primer. Mail this postcard utilizing 3rd class postage rates at the beginning of the fiscal year every other year, prior to your annual giving cycle. Utilize a unique marketing design for the front of the postcard to catch the prospects attention. The back-side of the postcards has a message similar to: Do You Know? Many employers will match gifts to higher education given by employees and spouses, even if they are retired. When contacted by (Institution Name Here) Annual Giving program in the coming year, simply check with your personnel office to obtain the necessary form, complete it, and send in along with your gift or pledge payment to double or triple your gift to (Institution Name Here). For more information and to see if your company matches, visit (Institution Website Here). Thank you for supporting (Institution Name Here)! Matching Gift Brochures: Though an old standard, this is still very useful and an inexpensive method if utilized strategically. The key is to whom the brochure is mailed to and then to focus on production options to lower the cost per piece as much as possible. 4

5 As a general rule, only include the full-length brochure listing majority of major matching gift companies in direct mail appeals to recent donors of the last five years. Direct mail return rates on longer lapsed donors and non-donors are so low that the cost of including a brochure to these audiences is not a wise investment. Matching Gift Post-Its: An inexpensive reminder that can be placed on all telefund acknowledgments and pledge reminders. Follow-up and Stewardship: Good pledge collection processes are essential to ensure that matching money is not left on the table. Work with your Information Technology staff to develop a standard program that identifies those donors that have recently made a gift, are coded as working for a matching gift company, and did NOT submit a matching gift form with their gift. The data elements you will want pulled include: name, address, gift date, gift amount, gift designation, matching gift company, and ratio. Draft a letter template that acknowledges/notes appreciation of gift, notes indication of company employer, and potential match ratio. The donor will either: 1) send in matching gift form; 2) disregard notice; or 3) note that company doesn't match any longer, or no longer employed by company. Let s hope for #1. 5

6 Stewardship should encompass recognition of both the original gift and the matching gift. Special recognition in special clubs may also help to encourage the type of behavior you want donors to follow. Stewardship and follow-up is also useful with organizations that are matching gifts. You need creative naming and recognition strategies, and you should lobby these organizations to improve their matching gift programs. Thanks to Mike Westfall for assisting with this paper. 6

7 About the Author Brian Dowling has worked at a number of non-profit and higher education organizations in both the United States and Canada where he gained understanding, knowledge and perspectives of managing in small, medium and large shops. This experience included multiple system conversions, web site development, budgetary and financial responsibilities, operations management and more. He has consulted in the United States, Canada and Australia, written numerous articles and presents regularly at conferences. He invests his spare time in SupportingAdvancement.Com and is an amateur musician. About SupportingAdvancement.Com SupportingAdvancement.Com is a high traffic web property with the mission of providing free resources of interest to those working in the fundraising profession. Efficiency is crossing the bridge quickly. Effectiveness is deciding if you need to cross at all. Hopefully, you'll find some resources and ideas here to help you be more efficient and effective. Under the reporting and systems pages you ll find additional information on reporting, data warehouses, business intelligence and related links