One of the fundamental ways of ensuring the success of your nonprofit organization is funding. Of course, you can attract funding in a variety of ways, including individual donors. However, did you know that you can create a mutually beneficial partnership with a for-profit company to finally to support your fundraising goals?Many nonprofits are afraid to approach for-profit companies for a few reasons. For one, how could your nonprofit possibly produce something of value to a for-profit company? Secondly, how can your nonprofit uphold the integrity and values of the organization?
Nonprofits can actually contribute many positive things to a for-profit company. Just because you are not directly fueling them financially does not mean that you are not increasing their value.
Corporate Social Responsibility
The first thing to consider is CSR or Corporate Social Responsibility.
Consumers today are more socially, environmentally, and economically conscious than ever before. This puts pressure on businesses to take progressive strides on company operations in order to maintain and increase sales and customer loyalty.
To achieve good CSR, a company needs to respond to continually evolving customer needs, coming up with more sustainable and environmentally aware solutions to customer problems.
One good way to uphold their CSR status is to partner with nonprofit organizations that can help them. Consumers demand transparency and integrity from the companies they trust, and they are more likely to buy from companies whose values align with their own.
But it’s not just the consumers.
Happy employees are more effective employees.
Teaming up with nonprofits can boost employee morale, inciting more passion and dedication for their companies. Many employees want to feel like they are contributing to the world in a positive way and participating in the success of a nonprofit organization can mean a lot to them. This inspires them to work harder and produce higher quality work, bringing more benefits to their company.
As for upholding the integrity and values of your nonprofit, that’s actually simpler than you’d think! There are plenty of for-profit businesses that care about the imprint they’re making on the world. Your only job is to make sure that you do your research and choose carefully. Know the business you’re walking into, know their values, and make sure that their values align with your nonprofit.
There’s something out there for everybody! Once you’ve sparked up a conversation with the right business with the right values, a whole new world can open up for you. The first and most obvious benefit is that this business should be financially contributing to your nonprofit.
Keep in mind that you’re establishing a new relationship. With this relationship, you can make connections with all of their connections, and that’s a two-way street! You may run into an expanse of new donors from the company employees and consumers.
Plus, you stand to gain more awareness of your brand by getting the attention of the business audience. This could include increased media coverage as well.
In order to truly make this partnership work for you, make sure you clearly communicate what you need from them and ask them what they need from you. Clear communication and mutual effort from both of you will ensure you can maintain a happy and healthy partnership that lasts.
If you have any questions about cultivating a partnership and managing donations, contact us to find out how we can help!
Photo Credit: Han-Hsing Tu