4 Insightful CSR Statistics Nonprofits Need to Know
With heightened awareness of social and environmental issues, corporate social responsibility (CSR) is a powerful force for positive change. In the CSR world, companies pledge to make a meaningful difference beyond their bottom line. That’s great news for nonprofits!
Understanding CSR and its implications enables your nonprofit to secure new forms of financial support. To help you harness this power, we’ll shed some light on the current corporate philanthropy landscape with four insightful CSR statistics, illuminating the path toward collaborative solutions and greater impact.
Whether you work at a grassroots organization or are a seasoned nonprofit leader at an established nonprofit, we’ll provide actionable insights that explain why your organization should focus on CSR.
94% of major U.S. corporations plan to heighten or maintain their charitable giving.
Charitable giving is a mainstay in the corporate world. Both big and small companies recognize the power of these programs to position themselves as value-driven to consumers and employees. Nonprofits Source’s list of corporate giving trends suggests that 94% of corporate leaders currently plan to grow or maintain their business’s charitable support over the next few years.
Tapping into companies’ generosity means a few things:
Various opportunities for support: Since many companies prioritize charitable giving, your nonprofit can tap into a range of programs, like matching gifts, volunteerism, and event sponsorships. For sustained impact, you can also form ongoing partnerships.
Increased competition: While the commitment to charitable giving is promising, it also indicates that the landscape is more competitive for nonprofits vying for corporate support. Your nonprofit must differentiate itself, articulate its impact, and showcase innovative approaches effectively to attract corporate partners.
Reliability: Knowing that companies are committed to charitable giving provides a sense of stability for your funding sources. This consistency suggests that your nonprofit can rely on corporate giving as a way to sustain operations.
CSR trending upward is a major win for nonprofits. It brings both opportunities and challenges, emphasizing the need for your nonprofit to adapt, innovate, and collaborate to secure sustainable funding and advance your mission.
78% of donors are unaware if their company offers a matching gift program.
When a company offers matching gifts, it promises to match employees’ donations to eligible nonprofits. Typically, these corporate giving programs have guidelines regarding employee eligibility, nonprofit eligibility, and donation amounts.
While this is a wonderful opportunity for nonprofits, there’s a lack of awareness among donors and nonprofits surrounding matching gifts. Corporate giving research indicates that 26 million individuals work for matching gift companies, but only 22% of this group knows their company offers this type of program. Considering that 1 in 3 donors will give a larger gift if they know it’ll be matched, you need to bridge that knowledge gap.
Here’s how you can step up your nonprofit’s matching gift game:
Conduct internal training. Your fundraising team should be able to answer donors’ questions about matching gifts, so teach them how to check individuals’ eligibility, submit matching gift requests, and track match progress.
Promote matching gifts. Across all fundraising appeals, include information about how matching gifts can double donors’ contributions. Feature stories on your website about how matching gifts have transformed your cause, share instructive infographics on social media, and encourage donors to check their eligibility in your email newsletters.
Integrate a matching gift search tool into the donation process. By embedding an employer search tool into your donation form, confirmation page, and post-donation emails, you’ll encourage donors to research their eligibility whenever it’s most convenient for them. The tool will pull up their employer’s guidelines, match ratio, and match request form, helping the donor envision how their gift can go further.
Spread the word about matching gifts and ensure donors know these opportunities exist. When donors know their contributions can go further, they’re more likely to take the time to submit match requests to their employers. Plus, you’ll boost donor retention by making each gift more impactful.
Auto-submission is projected to yield an 80% increase in matching gift revenue.
Traditionally, donors have to fill out potentially lengthy matching gift request forms with information about their donation and the benefiting nonprofit. They often have to share a copy of the donation receipt.
Auto-submission is the latest innovation in matching gift technology, and it can reduce confusion and frustration surrounding the match process for donors. This feature streamlines the process by automatically submitting donors’ matching gift requests to their employers. That means donors don’t have to take the time to locate or fill out forms.
Right now, this new functionality is expected to yield an incredible 80% increase in matching gift revenue for nonprofits. This statistic is important for several reasons, including:
A Streamlined Donation Process: Matching gift auto-submission simplifies the giving process, making donors more likely to submit match requests. Make sure your donors know about the convenience of not having to fill out forms manually.
Efficiency and Resource Optimization: Automating the submission process saves time for your nonprofit. With auto-submission, your staff can focus its time and energy on other fundraising activities.
Data Accuracy: Auto-submission ensures the accuracy and completeness of donors’ matching gift requests by automatically transferring donor information and donation details. This reduces the likelihood of errors that could result in delayed or rejected matching gifts.
This functionality requires donors’ employers to leverage CSR software that integrates with your nonprofit’s matching gift platform. By embracing this functionality, you’ll optimize your fundraising strategy and unlock new avenues for donor engagement.
80% of volunteer grant companies provide between $8-$15 per hour volunteered.
According to 360MatchPro’s list of volunteering statistics, volunteer managers have noted that volunteer recruitment has been their greatest challenge for the past eight years. Luckily, companies can help overcome that obstacle.
Modern businesses recognize how volunteerism enhances the employee experience, helping give greater purpose to their workers. That’s why they often supply volunteers for their nonprofit partners’ fundraising events and even encourage them to volunteer on their own through volunteer grant programs.
Also known as "Dollars for Doers" programs, volunteer grants incentivize employee volunteerism by providing financial support to nonprofits where employees spend their time. For your nonprofit, this means you get extra helping hands and financial support. Most often, companies provide between $8-$15 per hour of employee volunteer time.
Not only can you connect with skilled volunteers through these programs, but these individuals will be even more motivated since their employer will give a grant to your organization.
Here’s how you can make the most of this opportunity:
Raise awareness. Just like with matching gifts, there’s a lack of awareness surrounding volunteer grants. Provide information on how volunteer hours can translate into financial support. Then, provide step-by-step instructions to educate your volunteers on the process.
Track volunteer hours. Using a volunteer management platform, maintain detailed volunteer records, including dates, hours, and tasks performed. That way, you can encourage grant-eligible volunteers to submit their requests and provide accurate information to their employers.
Express gratitude. To retain volunteers, establish a culture of gratitude by acknowledging their hard work. Reach out with a thoughtful letter or publicly recognize their efforts when warranted. Be sure to emphasize their volunteer grant's impact, or if they haven’t requested one yet, encourage them to check their eligibility.
This CSR statistic underscores how valuable volunteer grants can be for nonprofits. By leveraging these programs, your team can tap into additional funding and incentivize volunteer engagement on a new level.
Final Thoughts
Keeping up with the latest CSR statistics empowers nonprofits like yours to access new funding opportunities and transform corporate giving into a reliable revenue stream. The ones we shared underscore the importance of workplace giving in particular, indicating it’s a powerful way to amplify donors’ and volunteers’ impact.
Fold these opportunities into your fundraising plan by looking for matching gifts and volunteer grant opportunities and encouraging donors and volunteers to check their eligibility for their employers’ programs. In no time, you’ll grow your revenue and boost supporters’ satisfaction.