Fundraising events fuels charities and nonprofit organizations with their causes. On top of the donations from supporters, another type of fundraising events charities can look into includes corporate fundraising.
Group giving through company fundraising is a great practice for organizations seeking to help a community through a charity or nonprofit. Corporate donors are categorized under the major donors of an organization with whom they make an effort to develop deep relationships.
What are Corporate Fundraising Events?
Corporate fundraising is an avenue where nonprofits connect with companies to gather financial support. Partnering with a company is beneficial especially for generating a regular amount of funds for community projects. It may take time for a nonprofit organization to connect and work with a corporate partner. However, once a company considers a proposed partnership from a charitable institution, it is a stable source of funding to support a nonprofit’s causes.
Types of Corporate Fundraising Events
Company Concerts
Healthy organizations engage their employees in meaningful yet fun opportunities to explore their talents, together with colleagues. Such events are also a great opportunity to raise funds for partner charities or nonprofit organizations seeking support.
Small fees charged for admission are one of the ways to generate funds for donation, through a company event setting. Employees may also pledge a certain amount towards a cause or a charity they dedicate the concert. Most of the support from such company events can be achieved through the employees, family members of employees, suppliers as well as colleagues in the business.
Silent Auctions
Auctions have always been a favorite when it comes to raising funds for charities and causes. The good thing is, they remain exciting and lively, no matter how many times the idea has been used. Items can be from donations from the employees of the company or items pre-bought to be auctioned to participants.
Additionally, corporate auctions can seek help from exclusive wholesale drop shippers for possible items they can auction. Auctions can be hosted onsite or online and go for 24 hours or even a week, depending on how much your company aims to raise for your partner charities.
Donation Drives
Donation drives for corporate fundraising are in three forms – through cash, product donations, and volunteer work. With cash donations, companies allot a certain budget, either from profits or from pooled money from their employees, which is later given to their charity partner. For product donations, they provide a certain amount of product regularly, on specific dates for a nonprofit. In some cases, companies also provide product sponsorships during the fundraising events of charitable organizations.
Volunteer work is also common for charity partner companies. They offer their services and time, free of charge during donation drives, events, and other campaigns and causes that require the physical presence of individuals. The charities who receive these donations – whether in form or in kind, possess full liberty on how they will utilize the donations that they receive from partner organizations. Donations from such drives can be big or small but are a constant that can help nonprofits thrive while working towards their missions and goals.
Grant Funds
Although grants can be quite difficult to achieve especially for starting charitable organizations, it is a partnership that nonprofits should continue on working on. Some big companies create a foundation, an extension of the company itself, that oversees the grant-making and awarding process. Companies that offer grants create qualifications ensuring that the money they donate or grant to a charity is used in an outcome they believe in and support.
Grants for charities are of two forms – programmatic and capability building. A capacity-building grant is a type of grant that provides operational support for nonprofits. These grants aim to strengthen the management and governance of a charitable organization. Meanwhile, a programmatic grant applies to a particular project or program supporting a specific cause.
The process of applying and granting grants for charities is quite complicated. Nowadays, grants are also increasingly hard to find. To qualify for one, the nonprofit should support the same advocacies an organization or foundation supports. As a basic requirement, the nonprofit should hold a nonprofit status for two years. They should have a 501(c)(3) status with the IRS and should comply with the granting foundation requirements.
Fundraising Events and Charity Work for Businesses
There is a wide number of possible fundraising events to generate and pool money for charities, through corporate fundraising. In some cases, companies allocate a portion of their employees, with consent, as regular donations to charities and causes they believe in and support. Corporate fundraising is fun, rewarding, and a good way to return their blessings to society.
