Securing a corporate sponsorship is a mutually beneficial opportunity for both businesses and nonprofits. Not only do businesses provide financial and social support for nonprofit organizations, but companies gain a valuable boost in their brand.
While most commonly utilized for financial benefit, a corporate sponsorship also raises awareness for the cause of the nonprofit, and boosts both volunteer numbers and overall visibility and credibility. Choosing a business to approach for a sponsorship may seem daunting for any nonprofit, but searching locally is a great start. A company likes to see the immediate impacts of their giving, and a local business can remain more in touch with the nonprofit and its cause. Looking for a corporate partner that aligns with your nonprofit’s mission is essential, and can lead to forming an established and meaningful connection.
Consumers want socially responsible businesses, and a business can look more appealing with corporate sponsorships. Aligning a brand with a cause allows a company to increase profitability while bettering society and working to be more transparent and responsible. Giving back in the workplace engages employees and increases productivity, and a corporate-nonprofit partnership is attractive to workers who want to feel connected to their community.
Holding the top spot of listed corporate sponsors, Wells Fargo offers both volunteer grants and matching gifts, sponsoring 2.89% of nonprofit organizations in the US. Stating they were motivated to “address complex societal issues,” Wells Fargo provides financial stability by “serving and supporting those in need throughout the United States (Wells Fargo Community Giving Page).”
The Allstate Foundation emphasizes partnerships with both national organizations and local nonprofits in the form of grants, to “create innovative, long-term solutions for those in need (Allstate Foundation), and matches employee donations 1:1.
So how can a nonprofit acquire corporate sponsorships? Simply ask! Once you have done sufficient research on possible partners that match the mission of the nonprofit, explain to a prospective partner the contributions your nonprofit can offer and show interest in bringing value to the partnership. It is important to remember, though, to maintain the relationships you have cultivated by continuing to recognize and work with your sponsor, so that both parties are able to reap the benefits of the partnership.
Jordan Hannan and Jordan Lappin