Fundraising is essential for any nonprofit organization to survive and thrive. It’s how they can continue to provide their services to the community and make a difference in people’s lives. However, fundraising can be challenging, especially for smaller nonprofits with limited resources.
One way to overcome this challenge is to leverage matching grants. Matching grants are a type of fundraising where a donor agrees to match the donations made by other donors up to a certain amount. For example, a donor might agree to match all donations up to $10,000. This means that if the nonprofit raises $10,000 in donations, the donor will match that amount, bringing the total raised to $20,000.
Matching grants can be a powerful tool for nonprofits, as they can motivate donors to give more and can double the impact of their donations. In this article, we will discuss how to leverage matching grants for fundraising success.
- Find a matching grant donor
The first step in leveraging matching grants is to find a donor who is willing to provide a matching grant. This can be an individual, a foundation, or a corporation. Look for donors who have a history of supporting causes similar to yours and who have the financial resources to provide a meaningful match.
When approaching potential matching grant donors, be sure to make a compelling case for why your nonprofit is worthy of their support. Provide data and stories that demonstrate the impact your organization has made in the community. Also, be clear about how the matching grant will be used and what impact it will have on your fundraising efforts.
2. Set a fundraising goal
Once you have secured a matching grant donor, it’s time to set a fundraising goal. This goal should be achievable but also challenging. It should be ambitious enough to motivate donors to give, but not so high that it is impossible to reach.
Consider the size of the matching grant when setting your fundraising goal. If the matching grant is small, you may want to set a smaller goal. If the matching grant is large, you may want to set a higher goal to maximize the impact of the match.
3. Promote the matching grant
Once you have set your fundraising goal, it’s time to promote the matching grant to your donors and supporters. Make sure that everyone in your network knows about the matching grant and how it works. Use social media, email, and your website to spread the word.
When promoting the matching grant, be sure to emphasize the impact that the match will have on your fundraising efforts. For example, if your matching grant is $10,000, let your donors know that every dollar they give will be doubled. This can be a powerful motivator for donors to give more.
4. Create a sense of urgency
To maximize the impact of your matching grant, it’s important to create a sense of urgency. Let your donors know that the matching grant is only available for a limited time, and that they need to act quickly to make their donation count.
You can create a sense of urgency by setting a deadline for the matching grant, or by creating a fundraising thermometer that shows how close you are to reaching your goal. You can also use social media to provide updates on your progress and to encourage donors to give.
5. Thank your donors
Finally, it’s important to thank your donors for their support. Make sure that you acknowledge each donation, no matter how small. Let your donors know how much you appreciate their support and how their donation will make a difference in the lives of those you serve.
If your matching grant donor allows it, consider sending a thank-you note or email to each donor who gave during the matching grant campaign. This can help to build stronger relationships with your donors and can encourage them to continue to support your organization in the future.