Corporate giving types
More than a job
Corporate giving programs enable companies of all sizes to invest in social good. These are a type of corporate philanthropy that facilitates charitable giving to nonprofits. These programs are often driven by employee giving.
In today’s corporate landscape, employees seek more than just a job. They’re seeking companies that align with their values and where they feel proud to work. They want to feel good about their employers knowing there are opportunities to give to causes that matter and do good socially.
Implementing a solid corporate giving program will help businesses attract and retain talent while crystalizing employee engagement and satisfaction. Let’s take a look.
Corporate gift matching programs aim to make it easier for employees to donate their money to charitable causes they care about.
With a corporate gift matching program, a company can match their employee donations to their preferred charities, up to a certain amount. For example, an organization might match staff donations to Mite up to $1000 per year. This is an impactful way for companies to double the impact of their employee’s contributions.
Volunteer grant programs are a popular form of corporate giving. It works by companies agreeing to donate a set amount of money to nonprofits in exchange for employees putting in volunteer hours at that same nonprofit. Corporations may offer volunteer grant programs that match up to $15,000 in employee contributions. Organizations generally set an approximate time goal, for example, 15 hours, and once the staff volunteers have documented and met the target, the company will donate monies to match the volunteer time.
Community grants are another type of corporate giving program that financially awards a nonprofit to support its work in the community. A company may have a pool of funds that it would like to grant to a local charity on a yearly basis or as a one-off on an initiative they are keen to support. These might be projects that directly affect the community where the organization operates, and that bring about social good and sustainable change.
Team volunteer grant
A team volunteer grant is a corporate giving program where an organization provides a monetary donation to a nonprofit organization when a group of employees volunteers at the nonprofit together. These programs encourage team building, community service, and employee engagement. This type of corporate giving program is very similar to the Volunteer Grant, except that it is most frequently conducted on a single instance basis and involves an entire team of volunteers.
Employee grant stipend programs are a flexible option for corporate giving programs. This is where companies award grants to employees, which are then donated to the nonprofit of the employee's choice. There is flexibility in this type of program because the corporation may have a large stable of nonprofits from which to choose. Alternatively, staff can fill out a form with the details of a cause they wish to support and if approved, the company will send a check to the nonprofit in the employee’s name. This is a great way to get staff more involved in social responsibility programs.
An Employee Product Donation Program (EPDP) is a corporate giving program that enables employees to donate company products to nonprofit organizations. EPDPs are a great way for companies to give back to their communities and engage their employees in philanthropy. EPDPs can be structured in different ways, such as allowing donations of any company product or donation only within a specific product category.
We can help you choose the right corporate giving program for your organization. Contact Mite today.